The Group Chairman of United Bank for Africa (UBA) Plc and the founder of the Tony Elumelu Foundation, Mr. Tony Elumelu, has been awarded the nation’s honour, the Commander in the National Order of Gabonese Merit, by His Excellency, President Brice Clotaire Oligui Nguema.
The prestigious prize honours Elumelu’s long-standing contributions to the economic advancement of Africa, especially his influence on the expansion of infrastructure and youth entrepreneurship in Gabon and throughout the continent.
President Brice Clotaire Oligui Nguema, who was sworn in as the newly elected president of the oil-rich nation on Saturday, praised Elumelu’s dedication to inclusive and sustainable development in Africa while delivering the recognition in Libreville on Monday at the presidential palace. He also said that Tony Elumelu is not only a visionary entrepreneur but also a committed friend of our nation, Gabon. He has continuously demonstrated through the UBA Group and his Foundation that investing in Africa is not only wise business, but also essential to our common future. We commemorate a man today whose deeds continue to inspire nations and empower young Africans.
In addition to expressing his sincere gratitude for the award, Elumelu, who has recently made several high-level trips to Gabon, underlined his dedication to advancing the nation’s development agenda by saying: “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.”
“This is more than a medal – it is a reminder of what we can achieve together as Africans. At UBA and the Tony Elumelu Foundation, we remain committed to building bridges, not just between nations, but between ambition and opportunity,” he added.
Under the new leadership, Gabon is prioritising inclusive growth and speeding up its economic recovery, so the recognition comes at a critical moment. Infrastructure financing, which is crucial for long-term economic transformation, and youth entrepreneurship are the two main pillars of Elumelu’s engagement. The Tony Elumelu Foundation supports these causes by providing young Gabonese and African entrepreneurs with $5,000 in non-refundable seed capital, mentorship, and training annually.
The prize also emphasises how Gabon and the UBA, a major force in financial inclusion and development with a significant presence throughout the continent, have strengthened their financial collaboration. He is the founder and chairman of Heirs Holdings, a family-owned investment firm dedicated to enhancing lives and changing Africa by making long-term investments in key areas of the continent’s economy, such as healthcare, technology, power, energy, financial services, and hospitality.
The United Bank for Africa (UBA), the only African bank with a commercial deposit in the United States, is a pan-African financial services firm that operates in 20 African countries as well as the United Kingdom, France, and the United Arab Emirates. Tony Elumelu serves as its chairman.
Continuing, UBA offers financial services to over 35 million clients worldwide, including corporate, commercial, SME, and consumer banking. In addition, he serves as the chairman of Transcorp, the biggest publicly traded company in Nigeria, which has properties such as Transcorp Hotels Plc, the country’s top hospitality brand, and Transcorp Power, one of the country’s top electricity providers.
In Africa, Tony Elumelu is the most well-known entrepreneur advocate. To empower a new generation of African entrepreneurs, spur economic growth, eradicate poverty, and create jobs in all 54 African countries, he established The Tony Elumelu Foundation (TEF) in 2010. As part of a ten-year US$100 million commitment to support, coach, and train young Africans, the Foundation’s flagship initiative has identified and catalysed 18,500 entrepreneurs and established a digital ecosystem of over one million Africans since its start.
The foundation and Tony’s enterprises are motivated by his Africapitalism economic theory, which views entrepreneurs and the private sector as the driving force behind the continent’s social and economic advancement.
BrandSpur business and economy news desk reports that Tony received Belgium’s oldest royal order in 2020 for his commercial leadership and economic empowerment of young African entrepreneurs, and he was listed among the TIME100 Most Influential People in the World.
