Tony O. Elumelu

Tony O. Elumelu, MFR is Founder of The Tony Elumelu Foundation, an Africa-based and African-funded philanthropy, whose mission is to identify and groom African business leaders and entrepreneurs to achieve the Foundation’s central objective of enhancing the competitiveness and growth of Africa’s private sector. He is also Chairman of Heirs Holdings Limited, an African investment company deploying proprietary capital for the long term in the most promising sectors of the continent and Tenoil Petroleum and Energy Services Limited.. His reputation as a prominent African business leader is founded on his vision and strategy for United Bank for Africa Plc (UBA), a single country bank he transformed into a Pan-African financial services institution serving over 7 million customers in 20 African countries and operating in Europe and the United States. He retired as Group Chief Executive Officer of UBA in July 2010. Mr. Elumelu is the leading proponent of Africapitalism™: the private sector’s commitment to the economic transformation of Africa through investments that create economic prosperity and social wealth. His passionate commitment to proving that the African private sector can be the primary driver and beneficiary of Africa’s economic transformation is evident by the numerous honors, board and committee appointments he has. In 2003, the government of Nigeria conferred on him the national honour of Member of the Order of the Federal Republic. In 2011, New African magazine named him one of the Top 100 Most Influential Africans in the area of business and finance. He also serves as Chairman of Transnational Corporation (Transcorp), a diversified conglomerate with strategic investments and core interests in the hospitality, agribusiness and oil and gas sectors.

The Changing Face of Africa

Africa has grown by leaps and bounds over the last two decades, and will continue to do so. What a change a decade makes. Africa has come a long way since The Economist headline (now described as “regrettable”) of May 11, 2000 that referred to Africa as “The Hopeless Continent”. We are seeing a noticeable shift in the way the continent is perceived from the... Continue Reading

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