Tony Elumelu | |
|---|---|
.jpg) Elumelu in 2020 | |
| Born | Anthony Onyemaechi Elumelu (1963-03-22)22 March 1963 (age 62) |
| Alma mater | Ambrose Alli University, University of Lagos |
| Occupation(s) | Chairman and founder, Heirs Holdings; founder,The Tony Elumelu Foundation |
| Years active | 1987–present |
| Known for | FoundingThe Tony Elumelu Foundation |
| Spouse |
|
Anthony Onyemaechi ElumeluCFR (born 22 March 1963) is a Nigerianeconomist, banker andphilanthropist. He chairsHeirs Holdings,[2]Transcorp, andUnited Bank for Africa, and is the founder ofThe Tony Elumelu Foundation.[3]
In 2020, Elumelu was included inTime'slist of the 100 most influential people in the world.[4]
Elumelu was born inJos,Plateau, Nigeria, on 22 March 1963, to Suzanne and Dominic Elumelu, originally from Onicha-Ukwu inAniocha North Local Government Area ofDelta State.[5][6] AnIgbo by ethnicity, he grew up with four siblings, one of whom isNdudi Elumelu, the minority leader in theNigerian legislature.[7][8]
Elumelu studied Economics at Ambrose Alli University, obtaining aBachelor of Science with a Lower Second Class (2:2). He then obtained aMaster of Science degree inEconomics from theUniversity of Lagos.[9]
Elumelu worked in the Nigerian BankUnion Bank as a corps member during hisNational Youth Service Corps in 1985, before starting his career as a salesman. He subsequently joined Allstates Trust Bank[10] in 2005, andUnited Bank for Africa (UBA) was acquired afterwards.[11]
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.[12]
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 acquiringUnited Bank for Africa (UBA).[13][14]
Following the merger of Standard Trust Bank and United Bank for Africa in 2005, Elumelu led the company as group managing director from a single-country banking group to a pan-African bank with subsidiaries in 20 African countries,France, the U.S. and the U.K. He stepped down in 2010.[15][16]
Elumelu currently chairs the board of the United Bank for Africa.[17][18]
In 2010, he founded Heirs Holdings, his family-owned investment holding company. Elumelu also established in the same year the Tony Elumelu Foundation, an Africa-based foundation championing entrepreneurship in Africa.[19]Heirs Holdings maintains a portfolio of investments across several sectors.[20][21] Through Heirs Holdings, Elumelu holds a controlling interest in Transnational Corporation, a diversified conglomerate with business interests in Power, Hospitality and Energy.[22]
On 14 April 2021, Elumelu was officially given the Certificate of Discharge of the iconic hospitality facility. TheNational Council on Privatisation (NCP), which is chaired by the former Vice President of Nigeria Prof.Yemi Osinbajo, handed over full ownership of Transcorp Hotels to the chairman after fulfilling all privatization conditions attached to the sale of the property in 2005.[23]
_(cropped).jpg)
Following his retirement fromUnited Bank for Africa in 2010, Elumelu foundedThe Tony Elumelu Foundation, which promotes entrepreneurship in Africa. The foundation's belief that the private sector's role is critical for Africa's development is hinged on the economic philosophy ofAfricapitalism, which was introduced by Elumelu; "that the African private sector has the power to transform the continent through long-term investments, creating both economic prosperity and social wealth."[24]
In 2015, Elumelu committed $100 million to create 10,000 entrepreneurs across Africa over the next 10 years through the Tony Elumelu Foundation Entrepreneurship Programme - aPan-African entrepreneurship initiative designed to empower African entrepreneurs through a multi-year programme of training, funding, and mentoring.[25]
Elumelu has received recognition and praise for his contributions to business and entrepreneurship.
{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)| International | |
|---|---|
| National | |
