Elumelu Visits Gabon, Set to Invest in Country’s Infrastructure
Emmanuel Addeh in Abuja
The Chairman of the United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Mr Tony Elumelu, has reaffirmed his commitment to the development of the economy of Gabon.
Elumelu, who was on an official visit to the President of Gabon, Brice Oligui Nguema at the Presidential Palace in Libreville, on the invitation of the country’s leader, discussed key strategies to enhance infrastructure development and foster entrepreneurship in the country.
During the discussions both leaders underscored the importance of strategic investments in infrastructure as a catalyst for economic growth and job creation, a statement from the bank said.
It stated that Elumelu, a strong advocate of Africapitalism, emphasised the role of private sector partnerships in driving sustainable development.
“The President of Gabon is committed to ensuring the development of infrastructure in Gabon, and I, as an African and an African investor, support countries, leaders, and companies that want to invest and create jobs for young people,” Elumelu highlighted.
On the back of a previous engagement by both leaders in New York in September 2024, Elumelu disclosed plans of a dedicated initiative to support the Gabonese youth through UBA and his Foundation, the TEF.
“As the founder of TEF, which supports young Africans, I am pleased to work alongside leaders who embrace and bring together African youth. His Excellency, the President, was kind enough to share his vision for assisting young Gabonese people, and he asked for my support.
“I made a promise that UBA Group will support infrastructure development projects in Gabon, and TEF will provide young entrepreneurs with non-refundable seed funding of $5,000 each year,” Elumelu assured.
Expressing his appreciation for Elumelu’s commitment, the president of Gabon highlighted the significance of the partnership in driving the nation’s economic agenda.
“Gabon is poised for a new era of economic transformation, and partnerships with leading African investors like Tony Elumelu are key to accelerating our progress. Our focus is on creating opportunities for young people and strengthening the nation’s infrastructure, and we welcome collaborations that align with this vision,” the president stated.
UBA Group, a leading Pan-African financial institution, said it has long supported economic growth across the continent through strategic infrastructure investments and financial empowerment initiatives.
With the renewed commitment, the bank said it aims to enhance financial inclusion and create sustainable opportunities for local entrepreneurs, further strengthening Gabon’s economic resilience.
This collaboration, according to the statement, marks a significant step in fostering an environment that promotes innovation, financial independence, and economic prosperity in Gabon.
Earlier, while speaking to a group of policymakers, business executives, and investors who gathered at the inaugural edition of the Cameroon Economic Meeting in Yaoundé, Elumelu, highlighted the critical role of entrepreneurship, infrastructure development, and financial inclusion in fostering economic transformation.
He underscored the importance of intra-African trade and investment, urging stakeholders to adopt policies that create an enabling environment for businesses to thrive.
