An African Giant Anthony Elumelu is a banker, economist, philanthropist, and motivator whose specialty lies in investing in entrepreneurs from anywhere across Africa. His goal is to give them the tools they need so that their businesses may thrive; no matter where they are or what language they speak.
Tony Elumelu is the man making a difference by investing in African entrepreneurs. His foundation has awarded over 15,847 young African entrepreneurs so far and would have invested around $100 million in African businesses before 2025.
It was 1997 and Elumelu had a dream. He wanted to take over a struggling bank and turn it into a profitable institution. With the help of a few like-minded investors, he did just that. In just a few years they took over Crystal bank and renamed it Standard Trust Bank, and within a few years, Standard Trust Bank was thriving.
In 2005, he made another big move by acquiring United Bank for Africa (UBA). This merger made him one of the most powerful bankers on the continent. His success has come from his hard work and dedication, as well as his willingness to take risks. He is a true entrepreneur who has built an empire from scratch.
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The business guru in 2010 founded Heirs Holdings which became hugely successful. In January 2021, Heirs Holdings announced its acquisition of a 45% operating stake in a permit known as “Oil Mining Lease 17” from Shell, Total and ENI. The deal, worth more than $1 billion,
Elumelu’s journey to entrepreneurship began in earnest in 2010, following his retirement from United Bank for Africa. At the time, he recognized that one of the biggest challenges facing Africa was its lack of entrepreneurship. This is why he founded The Tony Elumelu Foundation, which exists to promote entrepreneurship on the continent.
The Tony Elumelu Foundation (TEF) is based on the economic philosophy of Africapitalism as coined by Tony Elumelu, meaning sustainable development can only be achieved through the active participation of the African private sector. TEF believes that entrepreneurs are key drivers of economic growth and social transformation, and therefore focuses its efforts on providing support to entrepreneurs across all sectors of Africa’s economy
TEF is committed to helping Africa’s next generation reach their full potential by providing access to education and job-related skills for young Africans. With this initiative, the TEF hope to equip 20 million young people with the tools they need to thrive in the digital age. This will include access to data, digital learning, and job-related skills. They also plan to provide livelihood opportunities so that these young people can support themselves and their families.
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The Foundation has achieved a great deal since it was established. It has provided training and mentorship to thousands of entrepreneurs and has created over four hundred thousand jobs across Africa. Its impact can be seen in the success stories of its alumni, who are now creating jobs and driving innovation across the continent.
The African Giant has been recognized by organizations across the globe including Time Magazine as one of Time’s 100 most influential people in the world. Tony Elumelu has been recognized for his contributions to business and entrepreneurship. He is a highly respected figure in the business community, and his work has helped to create jobs and opportunities for many people. He is a role model for entrepreneurs everywhere, and his advice is sought by business leaders around the world. His dedication to promoting entrepreneurship has made him a force for positive change in Africa and beyond.
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