For exceptional contribution to Africa's dev't: Gabonese President decorates UBA Group Chairman Tony Elumelu.

President Oligui Nguema performed the ritual, underscoring the far-reaching contribution of Elumelu that cuts across different strata of the African society.

Besides being an endearing force in driving Africa’s development, President Oligui Nguema cited the fruits of Elumelu’s works in youth entrepreneurship, infrastructural development among others in Gabon and across Africa. 

He also praised Elumelu’s commitment to inclusive and sustainable development in Africa. According to Oligui Nguema, the globally respected businessman is a visionary entrepreneur.

Oligui Nguema also referred to him as “a committed friend of our nation, Gabon”.

“Through his Foundation and the UBA Group, he has consistently shown that investing in Africa is not just good business - it is the key to our shared future,” he added.

He said Gabon is proud, through him, to honour Tony Elumelu whom he said, is “a man whose actions continue to empower young Africans and inspire nations”.

Elumelu renews commitment to serve

Shortly after receiving the recognition, Elumelu restated his commitment to continue supporting the development of Gabon, particularly the new vision of President Oligui Nguema.

On the medal, he Elumelu remarked that: “I am truly humbled by this honour. It is a reflection not just of my personal journey, but of a shared belief - that African-led solutions, African entrepreneurs, and African institutions will shape the future of this continent. Gabon holds enormous potential, and I am proud that the Tony Elumelu Foundation and UBA Group can play a role in unlocking it”.

Africans can achieve more together

Elumelu stressed that the recognition is “more than a medal”, detailing that it sends a message of how far Africa can advance in terms and development if its people work together.

“At UBA and the Tony Elumelu Foundation, we remain committed to building bridges, not just between nations, but between ambition and opportunity,” he reiterated.

Elumelu’s unique vision

It is well known that Elumelu’s engagement focuses on two key pillars of infrastructure financing, which is essential for long-term economic transformation and youth entrepreneurship.

To step up the capacity of young people, he has been championing work through the Tony Elumelu Foundation, which offers training, mentorship, and $5,000 in non-refundable seed capital to young African entrepreneurs each year.

With his multiple recent visits to Gabon in recent times, the award is pictured as the pivot of financial partnership between Gabon and the UBA. UBA, it should be said, has a strong presence across the African continent and is a key driver of financial inclusion and development.

Snippet of Tony Elumelu

Elumelu is the Founder and Chairman of Heirs Holdings, his family owned investment company committed to improving lives and transforming Africa, through long-term investments in strategic sectors of the African economy. It also has interest in financial services, hospitality, power, energy, technology and healthcare.

He is the Chairman of pan-African financial services group, the United Bank for Africa, UBA, which operates in 20 countries across Africa, the United Kingdom, France, the UAE and is the only African bank with a commercial deposit taking presence in the United States. 

UBA provides corporate, commercial, Small and Medium Size, SME, and consumer banking services to more than 35 million customers globally. 

Elumelu equally chairs Nigeria’s largest quoted conglomerate, Transcorp, whose subsidiaries include Transcorp Power, one of the leading producers of electricity in Nigeria and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand.

He is the undisputed champion of entrepreneurship in Africa. In 2010, he created The Tony Elumelu Foundation, TEF, the leading philanthropy, empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and driving job creation across all 54 African countries. Since inception, the Foundation’s flagship programme has identified and catalysed 18,500 entrepreneurs and created a digital ecosystem of over one million Africans, as part of a ten-year US$100m commitment to fund, mentor and train young Africans.

Father of Africapitalism

Elumelu’s businesses and the Foundation are inspired by his economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as catalyst for the social and economic development of the African continent.

In 2020, in recognition of his business leadership and economic empowerment of young African entrepreneurs, Elumelu was named in the TIME100 Most  Influential People in the World, and recognised with Belgium’s oldest and highest royal order.