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| Getty Images/ Tony Elumelu |
Early Life of Tony Elumelu
Elumelu was born in Jos, Plateau State, Nigeria, in 1963. He hails from Onicha-Ukwu in Aniocha North Local
Government Area of Delta State. He
has two degrees in economics from Nigerian universities, a bachelor's
degree from Ambrose Alli University and
a master of science degree from the University of Lagos. He is an alumnus of Harvard Business
School's Advanced Management Programme. Tony
Elumelu married Awele Vivien Elumelu, a medical doctor, in 1993, and they have
seven children together. He has four siblings, one of whom is Ndudi Elumelu, a
former member of the Nigerian Federal House of Representatives
In his
early career, Elumelu acquired and turned Standard Trust Bank into a top-five
player in Nigeria. In 2005 he led the acquisition of United Bank for
Africa (UBA), later transforming it from a single-country bank to a pan-African
institution with more than seven million customers in 19 African countries.
Following
his retirement from UBA in 2010, Elumelu founded Heirs Holdings, which invests
in the financial services, energy, real estate and hospitality, agribusiness,
and healthcare sectors. In the same year, he established the Tony Elumelu
Foundation, an Africa-based and African-funded philanthropic organisation.
In 2011,
Heirs Holdings acquired a controlling interest in the Transnational Corporation
of Nigeria Plc (Transcorp), a publicly quoted conglomerate that has business
interests in the agribusiness, energy, and hospitality sectors. Elumelu was
subsequently appointed chairman of the corporation.
He was
one of the co-chairs of the 26th World Economic Forum on Africa
in Kigali, Rwanda, from 11 to 13 May 2016.
Elumelu
holds the Nigerian national honours, the Commander of the Order of the
Niger (CON) and Member of the Order of the Federal
Republic (MFR). He was recognised as one of "Africa's 20 Most
Powerful People in 2012" by Forbes magazine.
Philanthropy
The Tony Elumelu Foundation
Following
his retirement from United Bank for Africa in July 2010, Elumelu
founded The Tony Elumelu Foundation. His stated objective was to
"prove that the African private sector can itself be the primary generator
of economic development." The Foundation is charged with the mission
of "driving Africa's economic development by enhancing the competitiveness
of the African private sector"
Entrepreneurship
to Africa
The Chairman of United Bank for
Africa, Mr. Tony Elumelu, has taken the entrepreneurship and infrastructure
growth campaign to East Africa.
According to a statement,
Elumelu is on a five-day working visit to East Africa, where he will meet with
national leaders of Kenya and Uganda.
The statement noted that the
UBA chairman would travel to Uganda and Kenya to meet with the Presidents of
both nations, Uhuru Kenyatta and Yoweri Museveni, to discuss issues around the
growth and development of the their economies.
He would discuss how to enable
entrepreneurship, infrastructure financing, regional economic growth, and how
the private sector in Africa could work in shared purpose alongside African
governments to create prosperity for all Africans.
“On the sidelines of the
engagements, the Tony Elumelu Foundation will gather members of the full local
ecosystem — from investors to academia to established and emerging
entrepreneurs alike — for an entrepreneurship ecosystem event,” the statement
said.
“During the event, TEF alumni
and members of the Kenyan and Ugandan entrepreneurship communities will receive
insights from guest speakers who will provide practicable information to help
the audience develop their businesses and their business management skills,” it
added.
Guest speakers included leaders
from TEF partner, Microsoft, and other ecosystem players, including Google.
The statement further said,
“During the visit, Elumelu will also meet with key stakeholders and
policymakers in the countries to discuss infrastructural funding opportunities,
as well as interact with leading private and public sector players. He will
host a Founder’s Forum with students of Makerere University, Kampala, and
University of Nairobi — two leading African institutions. At this forum he will
give young Africans insight into his own life, share tips and values for
success while encouraging entrepreneurship and development.”
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