Elumelu pledges investment to boost Gabon’s infrastructure, youth empowerment
Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, has reiterated his dedication to supporting Gabon’s economic development following a high-level meeting with the country’s President, Brice Oligui Nguema.
During an official visit to the Presidential Palace in Libreville, Gabon, Elumelu engaged in discussions with President Nguema on strategies to advance infrastructure development and promote entrepreneurship in the country.
Both leaders acknowledged the vital role of infrastructure investments in driving economic growth and job creation. Elumelu, a strong proponent of Africapitalism, emphasised the need for private sector involvement in fostering sustainable development.
“President Nguema is determined to accelerate Gabon’s infrastructure growth, and as an African investor, I am committed to supporting initiatives that drive job creation and economic progress,” Elumelu stated.
Following up on a previous discussion in New York in September 2024, Elumelu outlined plans to empower young entrepreneurs in Gabon through UBA and TEF.
“Through TEF, we have been empowering young African entrepreneurs, and I am pleased to collaborate with leaders who share this vision. His Excellency, the President, has a strong commitment to supporting Gabonese youth, and I have pledged my support. UBA Group will invest in key infrastructure projects in Gabon, while TEF will provide non-refundable seed funding of $5,000 annually to young entrepreneurs,” Elumelu affirmed.
President Nguema welcomed this commitment, recognising its significance in advancing Gabon’s economic transformation.
“Gabon is entering a new phase of economic renewal, and partnerships with influential African investors like Tony Elumelu will help accelerate our progress. We are prioritising opportunities for young people and strengthening infrastructure, and we welcome collaborations that align with this goal,” the President remarked.
UBA Group, a leading Pan-African financial institution, has been instrumental in supporting economic growth across the continent through infrastructure investments and financial empowerment programmes. This renewed partnership aims to enhance financial inclusion and create sustainable business opportunities for local entrepreneurs, further reinforcing Gabon’s economic resilience.
This collaboration represents a significant step towards fostering innovation, financial independence, and long-term economic stability in Gabon.
Meanwhile, during the inaugural Cameroon Economic Meeting in Yaoundé, Elumelu addressed policymakers, business leaders, and investors, stressing the importance of entrepreneurship, infrastructure development, and financial inclusion in Africa’s economic transformation.
He also highlighted the need to strengthen intra-African trade and investment, urging policymakers to create an environment that supports business growth and regional economic integration.
