Elumelu bags Gabonese highest National Award
The President of the Republic of Gabon, His Excellency General Brice Clotaire Oligui Nguema, has awarded the Commander in the National Order of Gabonese Merit to Tony Elumelu, Group Chairman of United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation.
This distinguished honour acknowledges Elumelu’s sustained contribution to Africa’s economic development, particularly his efforts in advancing youth entrepreneurship and infrastructure development in Gabon and across the continent.
At a ceremony held on Monday at the presidential palace in Libreville, President Nguema, who was formally sworn into office on Saturday as Gabon’s newly elected leader, commended Elumelu’s dedication to fostering inclusive and sustainable growth in Africa.
He remarked, “Tony Elumelu is not only a visionary entrepreneur but also a committed friend of our nation, Gabon. Through his Foundation and the UBA Group, he has continually demonstrated that investing in Africa is not only sound business but also fundamental to our collective future. Today, we celebrate a man whose actions uplift young Africans and motivate entire nations.”
Accepting the honour, Elumelu, who has visited Gabon multiple times in recent months, expressed sincere appreciation and reiterated his support for the country’s development goals.
“I am truly humbled by this honour. It reflects not just my personal journey but a shared conviction that Africa’s future lies in African-led solutions, African entrepreneurs, and African institutions. Gabon possesses immense potential, and I am proud that both the Tony Elumelu Foundation and UBA Group can contribute to unlocking it,” Elumelu said.
He added, “This recognition is more than a medal. It is a symbol of what we, as Africans, can accomplish together. At UBA and the Tony Elumelu Foundation, we are deeply committed to building connections, not only between nations, but also between ambition and opportunity.”
The award comes at a pivotal moment for Gabon, as the country pushes forward with its economic recovery and intensifies efforts to ensure broad-based growth under new leadership.
Elumelu’s involvement in Gabon is anchored in two major areas: infrastructure financing, which is crucial for sustainable economic development, and youth entrepreneurship. The latter is championed through the Tony Elumelu Foundation, which provides training, mentorship, and $5,000 in non-refundable seed capital annually to Gabonese and other African entrepreneurs.
The honour also draws attention to the strengthening financial relationship between Gabon and UBA. The bank, with a substantial footprint across Africa, plays a leading role in expanding financial inclusion and enabling economic progress.
Tony Elumelu is the Founder and Chairman of Heirs Holdings, a family-owned investment firm dedicated to improving lives and reshaping Africa through long-term investments in key sectors such as financial services, energy, hospitality, healthcare, power, and technology.
He also chairs UBA, a pan-African financial institution operating in 20 African countries, as well as the United Kingdom, France, and the UAE. UBA is the only African bank with a deposit-taking licence in the United States and serves over 35 million customers globally across corporate, SME, consumer, and commercial banking segments. Additionally, Elumelu chairs Transcorp, Nigeria’s largest publicly listed conglomerate, which includes Transcorp Power, one of Nigeria’s key electricity providers, and Transcorp Hotels Plc, a leading brand in the country’s hospitality sector.
Elumelu is widely regarded as Africa’s foremost advocate for entrepreneurship. In 2010, he launched the Tony Elumelu Foundation (TEF), a leading philanthropic organisation that empowers emerging entrepreneurs, drives economic growth, combats poverty, and creates jobs across all 54 African countries.
Since its inception, the Foundation’s flagship programme has supported 18,500 entrepreneurs and cultivated a digital community of over one million Africans. This is part of a decade-long, $100 million commitment to fund, train, and mentor young African innovators.
The work of Elumelu and his organisations is underpinned by his philosophy of Africapitalism, which places the private sector, and particularly entrepreneurs, at the centre of Africa’s transformation.
In 2020, Elumelu was named among TIME Magazine’s 100 Most Influential People in the World and received Belgium’s oldest royal order in recognition of his leadership in business and contributions to youth empowerment across the continent.
