Anthony Onyemaechi Elumelu, one of Africa’s leading investors and philanthropists has been a positive influence on those around him and has been motivating others toward success.
Tony Elumelu
Also know as Tony O. Elumelu, is the chairman of the United Bank for Africa (UBA), Heirs Holdings and Tony Elumelu Foundation as well as Transcorp Group .
With unembellished record, Elumelu, is one of the most sought-after bankers and entrepreneurs, who through tenacity, resilience and philanthropy has continued to thrive where others fear to tread.
Like George Bernard Shaw, the playwright said, “People who say it cannot be done should not interrupt those who are doing it.”
Known for his significant contribution to entrepreneurship in Africa, Elumelu, created The Tony Elumelu Foundation (TEF) in 2010, the philanthropy empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries.
Tony Elumelu Foundation is an African non-profit organization founded and headquartered in Lagos, Nigeria.
It is a pioneer member of the Global Impact Investment Rating System.
This year, the foundation is celebrating 13 years of empowering African entrepreneurs.
The foundation believes in African Entrepreneurship and therefore deliberately built an infrastructure that supports entrepreneurial talents across the continent.
Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed over $100 million in direct funding to 20,000 young African women and men, who have collectively created over 400,000 direct and indirect jobs.
The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
The Foundation’s empowerment means young Africans are having power and control over their own lives.
They get the support they need that is right for them.
Elumelu who is a Fellow of the Nigeria Leadership Initiative (NLI), is involved, through his Foundation, with the Tony Blair Africa Governance Initiative (AGI) in a partnership to strengthen the private sector’s role in the economic transformation of select African countries.
This partnership is called the Blair-Elumelu Fellowship Programme.
He is co-chair of the Africa Energy Leaders’ Group (AELG).
Elumelu revealed that “luck is important but that doesn’t make it a substitute for hard work or labour.
Hard work and passion are the two most important ingredients for luck.
Elumelu’s business model is winning him respect and recognitions from notable organisations and leaders across the globe.
And he is giving back big time through relentless investment in human capital/
These investments in human capital are playing important roles in increasing competitiveness, improving quality of life of the population and in generating economic growth and development of a country
Elumelu was born in Jos, Plateau, Nigeria, on 22 March 1963, to Suzanne and Dominic Elumelu from Onicha-Ukwu in Aniocha North Local Government Area of Delta State.
He studied Economics at Bendel State University (now Ambrose Alli University) obtaining a Bachelor of Science.
Afterward, he studied and received a Master of Science degree in Economics at the University of Lagos.
Elumelu worked in the Nigerian Bank Union Bank as a Youth Corp member during his National Youth Service Corps in 1985, before starting his career as a salesman.
On his early career, he has said: I started my career as a salesman, a copier salesman to be specific, young, hungry, and hardworking, but the reality was that I was just one of the thousands of young Nigerian graduates, all eager to succeed.
In 1997, Elumelu led a small group of investors to take over a struggling Crystal Bank (later renamed Standard Trust Bank).
He turned it profitable within a few years and in 2005, he led one of the largest mergers in the banking sector in Sub-Saharan Africa by acquiring United Bank for Africa (UBA).
He is recipient of many local and international awards; and on 11 October 2022, Elumelu received the National honour of Commander of the Order of the Federal Republic.
He is married and blessed with children.
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