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Tony Elumelu Foundation Announces New Chief Executive

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The board of Trustees of the Tony Elumelu Foundation announces the appointment of Professor Reid E. Whitlock as Chief Executive of the Foundation, commencing February 15.

Professor Whitlock’s appointment follows Dr Wiebe Boer, the inaugural Chief Executive of the Foundation, becoming Director of Strategy at Heirs Holdings, ‎Mr. Elumelu’s pan-African proprietary investment company. 

Founded in 2010 by serial entrepreneur and philanthropist Tony O. Elumelu, the Foundation is Africa’s leading advocate for entrepreneurship, responsible for programmes designed to ensure that entrepreneurs and entrepreneurship become the primary driver of Africa’s economic growth and social transformation.

Professor Whitlock brings thirty years of experience as a business school rector, diplomat, entrepreneur, strategy consultant and advisor to leaders in Africa, Asia and the Middle East on economic development.

He received his Ph.D. and law degree from the Fletcher School of Law and Diplomacy at Tufts University.

He also holds a Masters of Business Administration from Harvard Business School and is a cum laude graduate of Princeton University.

Commenting on Professor Whitlock’s appointment, Founding Patron of the Foundation, Professor Michael Porter said, “Tony’s commitment to African entrepreneurship is unshakeable and I salute his appointment of Professor Whitlock as the CEO of his Foundation.  Professor Whitlock has unique experience in driving competitiveness and entrepreneurship growth in Africa, including in Rwanda that has achieved remarkable progress. I look forward to continuing to support Tony, as he furthers Africa’s revival through the great work of the Tony Elumelu Foundation.”

President Paul Kagame of Rwanda stated “I am delighted to hear of Reid Whitlock’s appointment as the CEO of  Tony’s Foundation. Reid’s work was instrumental in improving Rwanda’s public sector service delivery, competitiveness, and business education. As CEO of the Tony Elumelu Foundation, he now has a unique platform to ensure this work continues across Africa.”

Tony Elumelu, founder and chairman of the Board of Trustees, said, “As Dr. Boer becomes Director of Strategy for Heirs Holdings, I want to thank him for the leadership he has provided, helping transform the Tony Elumelu Foundation from just an idea into a preeminent global philanthropic institution.  I welcome Professor Whitlock, who brings considerable global experience in the private, public, and academic sectors, which will significantly assist in realising the mission of the Tony Elumelu Foundation, in empowering Africa’s next generation of entrepreneurs and driving the continent’s economic and social transformation.”

Speaking on his appointment, Professor Whitlock stated “I am honoured by the opportunity the Board of Trustees has given me. I am excited to join such a dynamic institution, with a truly pan-African focus and an ambitious agenda.  I look forward to leveraging my extensive experience and networks to further help the Foundation achieve its important goals.”

Dr. Whitlock will focus on supervising the Foundation’s four key projects and programmes:

• The $100 million pan-African Tony Elumelu Entrepreneurship Programme – Africa’s largest direct intervention in support of entrepreneurship.

• The Africapitalism Institute, the Foundation’s policy and research arm, which provides a rigorous programme of research and advocacy, in support of the Foundation’s goals.

• The Elumelu Nigeria Empowerment Fund, directly assisting, through private sector strategies, conflict affected and disadvantaged communities across Nigeria.

• The Tony & Awele Elumelu Prize, which champions academic excellence on the African continent.

Professor Whitlock will be supported by the Foundation’s senior leadership team, including:

• Parminder Vir, OBE, the Foundation’s Director of Entrepreneurship, responsible for implementing the Tony Elumelu Entrepreneurship Programme.  Parminder has over thirty years of experience in the creative industries and is the former CEO of PVL Media, a specialist consultancy facilitating cross-border business development in emerging markets. 

• Bob Wheeler, who recently joined as inaugural Dean to lead the establishment of the Tony Elumelu Business School.  Bob has decades of experience in business education, most recently establishing business schools in Pakistan and Kyrgyzstan. 

• David Rice serves as the Director of the Africapitalism Institute.  David is an economist, who led the Milken Institute’s Africa programming, and was also a faculty member at New York University. 

• Abimbola Adebakin, who will be joining as the Director of Operations after a successful career, including working as a consultant with Accenture, and heading the consulting arm of the Financial Institutions Training Centre (FITC), Nigeria.  ‎


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NCAA Enforces Penalties on Five Airlines for Passenger Rights Violations

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Nigeria Civil Aviation Authority (NCAA) has taken enforcement action against five airlines—two international and three domestic operators—for violations of Part 19 of NCAA Regulations 2023.

These breaches include failing to refund passengers within the stipulated timeframe, disregarding directives from the authority, mishandling luggage, issues with short-landed baggage, and problems related to flight delays and cancellations.

Michael Achimugu, NCAA’s director of public affairs and consumer protection, confirmed the development on Tuesday but declined to disclose the names of the sanctioned airlines.

Achimugu explained that while airlines are not always at fault for flight disruptions, NCAA regulations mandate specific actions they must undertake during such instances. Failure to comply with these directives results in penalties of varying severity.

Achimugu highlighted an uptick in passenger complaints about delays and cancellations, particularly during the festive season, with some disruptions attributed to harmattan-induced poor visibility.

“We all know that this is harmattan season, so there is poor visibility. Flights must get cancelled. This is force majeure, and the airlines do not owe passengers anything in those instances.

“The enforcement we are initiating today is on cases where the airline is deemed to have been at fault. More will come,” he said.

The NCAA plans to summon the chief executive officers (CEOs) of all airlines this week for a meeting to address flight disruptions and regulatory breaches.

Earlier, on December 10, the NCAA announced its intent to sanction airlines for delayed ticket refunds. Under Part 19 of the NCAA Regulations 2023, airlines are required to strictly adhere to refund timelines to protect passenger rights. Refunds for cash purchases must be made immediately and in cash, while electronic payments, including mobile apps and internet banking, must be refunded within 14 days.


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Firm Partners Access Bank to Train Youths in Digital Skills

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NerdzFactory Foundation in collaboration with the Access Bank, has trained over 518 youths in digital skills. The two weeks virtual training, Youth Transition Program (YTP) 5.0, was meant to equip the youths for employment and digital skills and prepare them to excel in the competitive job market and unlock new economic opportunities.

Director of NerdzFactory Foundation, Ade Olowojoba, said the significance of the programme reflects the foundation’s mission to empower a new generation of leaders with the skills needed to thrive in an increasingly dynamic and digital global economy.

“Through initiatives like this, we are fostering innovation, resilience, and economic independence among young Nigerians,” he stated.

He disclosed that the programme succeeded in reaching its objectives.  According to him, participants reported increased readiness for the workforce, improved digital skills, and enhanced entrepreneurial capabilities, which have positioned them to secure quality employment and launch their ventures. The programme has demonstrated the transformative impact of focused skill-building initiatives.

“NerdzFactory Foundation and Access Bank reaffirm their commitment to expand the reach of the Youth Transition Programme to empower more young Nigerians with the tools they need to achieve lasting success and contribute to Nigeria’s sustainable economic development,” he said.

The director noted that the programme launched in response to Nigeria’s high unemployment rate, delivered comprehensive training to empower participants with practical job search skills, digital marketing expertise, and knowledge of leveraging digital platforms for economic growth.

During the programme, some of the sessions included webinars and a virtual bootcamp designed to help participants develop workplace skills such as CV writing, LinkedIn optimisation, and effective use of digital workspace tools.

“By fostering economic independence and resilience, YTP 5.0 aligns with the United Nations’ Sustainable Development Goals, particularly Goal 4, on quality education and Goal 8, on decent work and economic growth,” he stated.

 


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Afreximbank and Ecobank Join Forces to Boost Trade and Compliance Across Africa

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African Export-Import Bank and Ecobank Group have embarked on a collaboration aimed at simplifying trade and compliance for businesses in Africa by integrating Ecobank’s Single Market Trade Hub and Afreximbank’s MANSA Digital Repository Platform.

With the collaboration, African businesses will benefit from seamless shared services across the two platforms, with users of the Single Market Trade Hub able to easily leverage MANSA’s comprehensive database for efficient know-thy-customer (KYC) and customer due diligence (CDD) checks while MANSA platform users would, in turn, be able to directly connect to the Single Market Trade Hub to explore trade opportunities to expand their businesses across Africa.

The Ecobank Single Market Trade Hub connects registered businesses across Africa on a single platform, helping them benefit from opportunities in the unified market of 1.4 billion people created by the African Continental Free Trade Agreement (AfCFTA).

It serves as a one-stop repository for the AfCFTA by providing small and medium-scale enterprises (SMEs) and corporates with insights about the agreement while its online match-making feature enables importers and exporters to upload their profiles and showcase goods and services they offer, or wish to source, with the aim of finding partners within Africa.

Once a match is found, connections are made via the platform and the transaction can be concluded leveraging on Ecobank’s trade and payment solutions in 35 African markets.

The MANSA Digital Repository Platform, or MANSA, is a one-stop-shop for due diligence matters on all African entities. As a centralised digital repository, MANSA seeks to eliminate information asymmetry and to increase intra-African trade and trade with the rest of the world.

It drives and promotes good governance culture among African SMEs and creates visibility for their businesses while also supporting African entities to expand, diversify and add value to their export products at both the local and international levels. Entities onboarded unto MANSA are allotted an Africa Entity Identifier (AEI) code which enables them to leverage other Afreximbank products and initiatives.

MANSA is also a key digital solution at the Africa Trade Gateway (ATG) marketplace which houses a suite of digital platforms designed as a single window to enable Afreximbank better deliver on its mandate, providing critical services to support and promote intra-African trade and the implementation of the AfCFTA. The platform enables African entities to accelerate their business activities at the ATG marketplace by working with verified information on trusted counterparties.

The new collaboration is, therefore, enabling Ecobank and Afreximbank to provide a central solution to the key challenge of KYC compliance and access to business across 35 countries in Africa. The improved interoperability is expected to further streamline cross-border trade and compliance in Africa, fostering greater financial and economic integration on the continent.

Afreximbank is a pan-African multilateral financial institution established to finance and promote intra- and extra-African trade.

Ecobank Group is a leading private pan-African banking group with unrivalled African expertise.


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