Tony Elumelu is a Nigerian economist, banker, investor, and philanthropist.
Elumelu was born in Jos, Nigeria, on22 March 1963. He was raised and educated in Africa but his influence reaches across the continent.
Business Creating Jobs Across the Continent
Mr. Elemelu has been responsible for creating businesses across multiple African countries in sectors critical to Africa’s economic development.
Mr. Elumelu serves as Chairman of Heirs Holdings Limited, as well as Chairman of its affiliated company, Transcorp, one of Nigeria’s largest listed conglomerate.
He is also the creator of the Tony Elumelu Foundation, dedicated to becoming the catalyst for entrepreneurship across Africa.
The Tycoon’s Early Career
In his early career, Mr. Elumelu turned the financially distressed Standard Trust Bank into a top-five financial services player in Nigeria.
In 2005 he led the largest merger in the banking sector in sub-Saharan Africa, acquiring United Bank for Africa (UBA).
Today, UBA operates in 19 Africa countries and it also has locations in places like New York, London and Paris.
In 2010, he founded Heirs Holdings Limited, an African investment holding company with investments in financial services, power, oil and gas, agribusiness, real estate and hospitality.
In the same year he established The Tony Elumelu Foundation, an Africa-based and funded philanthropy, dedicated to the promotion of entrepreneurship in Africa.
A Voice in the Private Sector
Mr. Elumelu is the author and leading proponent of the philosophy “Africapitalism,” which advocates the private sector’s commitment to Africa’s development through long-term investment in strategic sectors of the economy that drive economic prosperity and social wealth.
In 2003, the Federal Government of Nigeria conferred the national honor of Member of the Federal Republic (M.F.R.) on Mr Elumelu.
In 2012 he was awarded the prestigious National Honor of; Commander of the Order of the Niger (C.O.N.) for his service in promoting private enterprise.
In 2013, Mr. Elumelu received the Leadership Award in Business and Philanthropy from the Africa-America Institute Awards.
He was also named African Business Icon at the 2013 African Business Awards.
An Important Fixture in USAID and More
Mr. Elumelu presently serves as a member of the USAID’s Private Capital Group for Africa Partners Forum.
He sits on the Nigerian President’s Agricultural Transformation Implementation Council and serves as Co-Chair of the Aspen Institute Dialogue Series on Global Food Security.
He played a leading role in the formation of the National Competitiveness Council of Nigeria and now serves as its vice chairman.
He chairs the Ministerial Committee to establish world-class hospitals and diagnostic centers across Nigeria, at the invitation of the Federal Government.
Elumelu contributed an article to the book “How to Excel at Work” – Proven Strategies for Achieving Superior Work Performance by Bili A. Odum.
He also contributed to the Nigeria Leadership Initiative White Papers, writing on leveraging private sector approaches in transforming government delivery.