NAIROBI, Kenya, July 1 – A new chapter in Kenya’s entrepreneurial story was written this week as the Tony Elumelu Foundation (TEF), in partnership with UBA Kenya, convened a high-level mixer bringing together entrepreneurs, mentors, and ecosystem players at UBA House in Nairobi’s Westlands.
Dubbed the “Entrepreneurship Ecosystem Mixer,” the event was aimed at fostering collaboration and building stronger local networks to support small businesses across the country.
In her address, Somachi Chris-Asoluka, CEO of the Tony Elumelu Foundation, emphasized the organization’s broader mission across Africa: to use entrepreneurship as a lever for economic transformation.
“We believe entrepreneurship is the most powerful tool we have to transform Africa. This gathering reflects our continued commitment to support entrepreneurs beyond initial funding — by investing in networks and mentorships that unlock long-term growth,” she said.
Mary Mulili, UBA Kenya’s Managing Director, reinforced the bank’s role as a key partner in that mission.
“In Kenya alone, TEF has supported more than 1,200 entrepreneurs with not only funding but mentorship and training. These are the catalysts of inclusive growth,” she noted.
She also announced that UBA is offering tailored financial products — including working capital and asset financing — designed to help these small businesses scale.
Since the launch of its flagship programme in 2015, the Foundation has supported over 24,000 entrepreneurs across 54 African countries with over USD $100 million in seed capital.
Collectively, alumni businesses have generated over $4.2 billion in revenue and created more than 1.5 million jobs, according to the Foundation.
In Kenya, the stories of transformation shared at the event underscored just how far the impact has spread.
One such voice was Huntington Mambo Asimpad, founder of Mambo Software and a 2018 TEF alumni.
“We were in a difficult place when we got selected. The training helped us rethink our model, and the seed capital helped us execute. That period marked a turning point,” he shared.
Maureen Amakabane, a 2017 beneficiary and founder of USAFI Sanitation, shared a more personal account.
“I had just lost two businesses. TEF came at a time when I was almost giving up. It gave me clarity, support, and a second chance,” she recalled.
Today, Maureen also leads the TEF Hub in Kenya, mentoring other entrepreneurs navigating the often bumpy startup landscape.
Beyond financial support, the mixer shone a spotlight on the power of mentorship, with figures like Dr. Rosemary Gituma, a longtime TEF mentor and former Cabinet Secretary, urging more leaders to offer guidance to younger entrepreneurs.
“It’s not just funding. It’s the coaching, the space to fail and rebuild, that makes the difference,” she said.
As Kenya’s startup ecosystem continues to rise — recently breaking into the global top 60 in StartupBlink’s 2025 index — such grassroots initiatives remain vital to ensuring that progress is inclusive.
“Entrepreneurship is not just about big ideas, but about resilience, community, and execution,” said one attendee. “Events like this remind us that we’re not building alone.”
With UBA Kenya’s support and a growing network of mentors, the Tony Elumelu Foundation appears set on deepening its presence in the region — not just as a funding body, but as a convener of ideas, ambition, and opportunity.
