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Tony Elumelu

Chairman

Tony O. Elumelu - United Bank for Africa (UBA) Group



Professional Summary


Tony O. Elumelu, CFR, is an influential Nigerian economist, banker, investor, and philanthropist. He is currently the Chairman of United Bank for Africa (UBA) Group, which operates in 20 African countries, as well as in the United Kingdom, United States, and France. He is also the Chairman of Heirs Holdings, Transcorp, and the founder of The Tony Elumelu Foundation.

Experience and Roles


  • Chairman, United Bank for Africa (UBA)

  • Tony Elumelu has played a pivotal role in the growth and expansion of UBA from a single-country banking group to a pan-African financial institution with operations in multiple continents.


  • Chairman, Heirs Holdings

  • In 2010, Elumelu founded Heirs Holdings, a family-owned investment firm focusing on sectors pivotal to Africa’s development such as energy, healthcare, financial services, real estate, and hospitality.


  • Chairman, Transnational Corporation (Transcorp)

  • He holds a controlling interest in Transcorp, a diversified conglomerate listed on the Nigerian Stock Exchange, with interests in power, hospitality, and energy sectors.


  • Founder, The Tony Elumelu Foundation

  • Established in 2010, the foundation is committed to empowering African entrepreneurs, driven by the philosophy of Africapitalism—an economic philosophy advocating for the private sector’s role in the development of Africa.


Educational Background


  • B.Sc. Economics

  • Bendel State University (now Ambrose Alli University)

  • M.Sc. Economics

  • University of Lagos


Notable Achievements and Recognitions


  • TIME Magazine's 100 Most Influential People of 2020

  • National Awards

  • Commander of the Order of the Federal Republic (CFR)

  • Commander of the Order of the Niger (CON)

  • Member of the Order of the Federal Republic (MFR)

  • Entrepreneurial Initiatives

  • In 2015, committed $100 million to empower 10,000 African entrepreneurs over 10 years through The Tony Elumelu Foundation Entrepreneurship Program.


Corporate Governance and Leadership


  • UBA Group Leadership

  • UBA Group prides itself on robust corporate governance practices. Under Elumelu’s leadership, the bank maintains a diversified Board with a healthy balance of skills, competence, and integrity. The Board consists of 15 members, seven of whom are females, representing 46.7% gender diversity.


Philanthropic and Societal Contributions


  • Elumelu has significantly contributed to youth empowerment in Africa, notably receiving accolades for his work from distinguished leaders.

  • Through The Tony Elumelu Foundation, he has created a robust platform that supports entrepreneurship by providing training, mentoring, and funding to budding African entrepreneurs.


Professional Affiliations and Social Media Presence






Tony O. Elumelu’s extensive contributions to banking, investment, entrepreneurship, and philanthropy have not only positioned him as a key figure in Africa’s economic development but also as a global influencer recognized for his impactful efforts.