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Tony Elumelu, philanthropist king of entrepreneurs in Africa glows at 59

Tony Elumelu, philanthropist king of entrepreneurs in Africa glows at 59

For Tony Onyemaechi Elumelu, CON, MFR, the stylish chairman of Heirs Holdings, United Bank for Africa (UBA Plc) and Transnational Corporation of Nigeria Plc,  it has been a story of success after success, THE WITNESS writes.

Going by the words of Colin Powell, former U.S. Defense Secretary, “a dream does not become reality through magic; it takes sweat, determination, and hard work”. While many seem to believe that much of the success attained by the great and accomplished is merely opportunity meeting preparation, several of the great and accomplished themselves have shown how hard work can create opportunity where there is none. When talent is involved in the equation, it is like the fantastic juggernaut who is simply and literally unstoppable.

This is clearly the case with Elumelu, who turned 59 years on earth on Tuesday April 22, 2022.

Tony’s businesses which spread through banking, oil and gas, real estate, hospitality have continued to create jobs and redistribute wealth in such a powerful way that the keen observer cannot help but marvel.

The Nigerian economist and philanthropist has quietly built a reputation for himself in the business world. His many years of hard work has paid off and he has become the symbol of excellence in his line of business earning the title, ‘the king of entrepreneurs in Nigeria.”

One thing that is synonymous with Tony is that he is full of grace that anything he touches or ventures into soars no matter its deplorable state.

Born on 22 March 1963 in Jos, Plateau State, to Suzanne and Dominic Elumelu from Onicha-Ukwu in Aniocha North Local Government Area of Delta State, he acquired two economics degrees from Ambrose Alli University and a master’s degree from the University of Lagos.

Tony kicked off his career in banking in 1985 as a serving Youth Corps member in Union Bank, but he wanted so much more out of life. And he pursued that ambition with abiding trust in God. Just over a decade later, he took that much-lauded step of leading a small group of investors into acquiring the failing Standard Trust Bank which he later grew and merged in 2005 to become United Bank for Africa with dozens of subsidiaries in Africa, Paris, London, and New York. Today, UBA offers banking services to more than 25 million customers, across over 1,000 business offices and customer touch points, in 20 African countries. With about 274,000 shareholders, about 72 per cent holding between one and 10,000 ordinary shares, UBA has the most diversified shareholders’ base.

We are familiar with individuals who take over bourgeoning establishments and further increase their worth on face value along the line. But it sounds like a fairy tale to have a professional who takes over a near-comatose organization and makes a corporate giant out of it. This is the story of Tony.

Arising from his modest beginnings, Tony has ascended the pinnacle of an entrepreneur in Nigeria.

According to Elumelu: “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.”

No doubt, he is an inspiration and a role model to many; his act of generosity continues to aim for the sky. He loves giving back to his society without blinking an eyelid.

Tony’s undying passion for Africa’s economic development, is second to none.

He has continued to uplift entrepreneurs in his drive for Africa’s economic development through his foundation, Tony Elumelu Foundation (TEF). It wouldn’t be an exaggeration to describe Tony as Africa’s most prominent philanthropist.

For over 10 years, through the foundation, Tony has empowered thousands of women and men across the 54 African countries, by catalysing economic growth, driving poverty eradication and ensuring job creation. The foundation leverages its strong relationships in the public, private and development sectors to drive its mission of creating prosperity for all. In 2015, the foundation launched the TEF Entrepreneurship Programme, a $100 million commitment by Elumelu to empower 10,000 African entrepreneurs over 10 years.

So far, the Tony Elumelu Foundation has trained, mentored, and funded over 10,898 young African entrepreneurs across all 54 African countries through its Entrepreneurship Programmes, and has provided capacity-building support, advisory and market linkages to over one million Africans through its digital networking platform, TEFConnect. This year 2022, TEF empowered 4,949 entrepreneurs with over $24.75 million to live their dreams and create wealth in Africa.

In 2020, Elumelu was named on Time’s list of the 100 most influential people in the world.

In recognition of his humanitarian gestures, President Muhammadu Buhari, in 2022, lauded Tony on his remarkable vision in training, mentoring, and funding entrepreneurs from all 54 African countries, describing it as “a truly lasting legacy.”

The president said Nigeria remains very proud of Tony, a global icon, whose business and philanthropic interests continue to create opportunities for growth and development not only in Nigeria but in Africa as a whole.

Tony, is indeed, a rare breed. He is one of the people who have capacity to affect the shape of events not just in Africa but the world.

To the billionaire king of entrepreneur business in Nigeria, a happy 59th birthday celebration!

First Bank

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