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Tony Elumelu – Building People, Enriching African Lives

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Tony Elumelu
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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 - Building People, Enriching African Lives

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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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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