Tony Elumelu: No Slowing Down for the Pride of Africa

Few of Nigeria’s most influential men of industry have the sort of connection Tony Elumelu has with the country’s striving youths. With his mix of good-natured humour, social media presence, and suave sense of fashion, Elumelu has the kind of charm that people find appealing.

The humane side of the Heirs Holding boss does not conflict with his corporate personality. So, the same young people who are pulled in by his natural charm are also the biggest beneficiaries of his corporate responsibility quota. It is this comfortable blend of work and fun that makes him a celebrity figure, which is a rather uncommon status for people in his profession.

Tony Elumelu and his foundation have catalysed one of the biggest entrepreneurship revolutions the country has ever seen. Founded in 2010, the non-profit organisation has empowered over 7,500 African entrepreneurs across 54 African countries.

Chances are that your favourite SME was established with a grant from the Tony Elumelu Foundation (TEF). That Elumelu’s efforts are strategically targeted at maximizing the potential of Nigeria’s youths means that some of the nation’s brightest minds are naturally drawn to projects associated with him.

Elumelu operates his foundation on the model of what he calls Africapitalism, a philanthropic attitude in which the general welfare is prioritized, as opposed to philanthropy for its own sake. For him, it is about “… the intersection of making profit and doing good, and not waiting to finish one before you do the other.”

It is not far-fetched to say that every organisation with Elumelu’s ownership or partnership signature group is highly likely one of the most pan-African establishments in the entire continent. The name of the bank whose board he chairs, the United Bank for Africa (UBA), tells part of the story of Elumelu’s associative greatness.

But the full story continues to be told, and as the man himself turns 59, many African entrepreneurs hope that it remains a long-lasting story.