Tony Elumelu honoured by Appeal of Conscience Foundation for ethical leadership, Africapitalism vision

Nigerian investor, philanthropist and chairman of Heirs Holdings, Mr. Tony Elumelu, was on Monday honoured by the Appeal of Conscience Foundation (ACF) in New York, with recognition for his contributions to ethical entrepreneurship, economic empowerment, and his Africapitalism philosophy that links private sector success with community development.

The award was received on his behalf by his wife, Dr. Awele Elumelu, Co-Founder of the Tony Elumelu Foundation, who delivered a moving speech that paid tribute to six colleagues from Heirs Holdings recently lost in a tragic incident. “They were family, friends, mothers, sons, and daughters, hardworking individuals, who were dedicated to building a better Africa. Their absence leaves a void that cannot be filled,” she said, before calling for a moment of silence in their honour.

Dr. Elumelu conveyed her husband’s gratitude, noting that the award “deeply resonates with his personal values” and reinforces his mission to transform lives through opportunity, entrepreneurship, and investment. She said: “Humanity first: that has been the core of my life, what keeps me up at night: how can we transform lives across Africa? How do we leave a legacy that uplifts people and creates opportunity for everyone?”

Highlighting the reach of Elumelu’s businesses and philanthropic work, she emphasised his conviction that the private sector is central to development. “At Heirs Holdings, when we invest in energy and power, we see it as a mission to light up homes, schools, and hospitals. Through the Tony Elumelu Foundation, we have provided over $100 million in seed funding to more than 24,000 young African entrepreneurs from all 54 African countries.”

She stressed that empowering young people with skills and economic opportunities was key to tackling instability, migration, and insecurity on the continent. “By empowering a generation with economic opportunities and the means to shape their own destinies, we are combatting the despair that fuels economic instability, migration, and insecurity,” she said.

Elumelu’s Africapitalism philosophy, which argues that Africa’s private sector prosperity is inseparable from the wellbeing of its communities, was central to his recognition. “This award is for the thousands of Africapitalists across the African continent who relentlessly create the Africa we envision; the young entrepreneurs, innovators, and my colleagues across Heirs Holdings Group,” Dr. Elumelu added.

The event’s organisers praised Elumelu’s vision and impact. Rabbi Arthur Schneier, Founder of the Appeal of Conscience Foundation, said: “Tony Elumelu stands as a beacon of ethical entrepreneurship and visionary leadership… Business can be a powerful force for peace, stability, and human dignity. His commitment to uplifting others is a living example of conscience in action.”

Similarly, Gala Chair and Bank of America CEO, Brian Moynihan, said the decision to honour Elumelu and Cardinal Timothy Dolan reflected their shared values. “They personify moral leadership and global responsibility that ACF stands for… Their works in faith, community, and economic empowerment remind us that progress and conscience go hand in hand,” Moynihan noted.

Dr. Elumelu expressed appreciation to Rabbi Schneier for creating the platform six decades ago and congratulated Cardinal Dolan, who was also honoured at the event. She dedicated the award to African entrepreneurs, her colleagues at Heirs Holdings, and her family.

“This is truly humbling. It is a recognition of resilience and a symbol of our shared commitment to building bridges of hope and prosperity across Africa and the world,” she concluded.