President Muhammadu Buhari has described Chairman of the United Bank of Africa (UBA) Group, Heirs Holdings and Transcorp, Tony Elumelu, and as a great inspiration to many, as he felicitates with him on his 60th birthday.
The President said he rejoices with the distinguished banker, economist, philanthropist and founder of the Tony Elumelu Foundation on the occasion.
In a statement signed by his Special Adviser on Media, Femi Adesina, the President said he shared in the joy and warmth of the occasion with the entrepreneur, who was ranked amongst World’s 100 most influential personalities in 2020 by Time magazine.
The statement reads: “President Buhari felicitates with the rChairman of the United Bank of Africa (UBA) Group on the milestone, affirming the honor and pride that the benefactor has brought to Nigeria, and Africa, with his achievements, lighting the way for many to grow through inspiration, mentorship and training, with focus on raising generation of entrepreneurs.
“The President believes Elumelu’s benevolence typifies his humble background and upbringing, starting out as a young banker, daring to dream of a modern and technologically friendly financial institution, Standard Trust Bank, and leading one of the biggest mergers with the UBA, which made history and strengthened the economy.
“President Buhari notes the combination of youthfulness in style, broadness in networking, with both old and young, and the passion in pursuing and realising Idreams that the entrepreneur continually projects, graciously guiding others to nurture their business ideas to reality, especially in meeting societal needs and rendering value.
“As the Chairman of Heirs Holdings, Transcorp and Tony Elumelu Foundation clocks 60, the President joins family members, particularly his wife, Dr Awele Elumelu, in thanksgiving to God for all the resourcefulness and impact, with brighter future ahead.
“President Buhari prays for long life, good health and wisdom for the Humanitarian,” the statement said.
Elumelu: A Profile
Elumelu is reputed to be one of Africa’s leading investors and philanthropists. Apart from Heirs Holdings, his family owned investment company, Elumelu is also the Chairman of pan-African financial services group, the United Bank for Africa (UBA), operating in 20 countries across Africa, the United Kingdom, France, the UAE. UBA which is the only African bank with a commercial deposit taking presence in the United States, also provides corporate, commercial, SME and consumer banking services to more than 35 million customers globally.
He is committed to improving lives and transforming Africa, through long-term investments in strategic sectors of the African economy, including financial services, hospitality, power, energy, technology and healthcare.
Also, Elumelu is also the Chairman of Nigeria’s largest quoted conglomerate, Transcorp, whose subsidiaries include Transcorp Power, one of the leading producers of electricity in Nigeria and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand.
He is the Founder and Chairman of Heirs Oil & Gas, an upstream oil and gas company, whose assets include Nigerian oil block OML17, with a current production capacity of 50,000 barrels of oil equivalent per day and 2P reserves of 1.2 billion barrels of oil equivalent, with an additional 1 billion barrels of oil equivalent resources of further exploration potential.
QHeirs Oil & Gas is committed to creating resource based added value on the African continent.
Tony is acknowledged as the most prominent champion of entrepreneurship in Africa.
In 2010, Elumelu created The Tony Elumelu Foundation (TEF), the leading philanthropy empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and driving job creation across all 54 African countries.
Since inception, the Foundation’s flagship programme has identified and catalysed nearly 16,000 entrepreneurs and created a digital ecosystem of over one million Africans, as part of a ten year $100m commitment to fund, mentor and train young Africans.
The Foundation is increasingly sharing its unique ability to identify and access young entrepreneurs across Africa, with institutions such as the European Commission, United Nations Development Programme, the International Committee of the Red Cross and other global development agencies, implementing thematic programmes that have focused on women and fragile regions. His
businesses and the Foundation are inspired by the economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
He sits on the Board of a number of public and social sector boards, including the World Economic Forum Community of Chairmen and the Global Leadership Council of UNICEF’s Generation Unlimited.
In 2020, in recognition of his business leadership and economic empowerment of young African entrepreneurs, he was named in the Time 100 Most Influential People in the World, and recognised with Belgium’s oldest and highest royal order.
In 2022, TIME again recognised Tony with its inaugural TIME100 Impact list, honouring him alongside six global leaders who have gone over and beyond to move their industries – and the world – forward.