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Tony Elumelu – Building People, Enriching African Lives
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.
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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News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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