Business
Gabon Honours Tony Elumelu for Advancing African Development
The President of Gabon, General Brice Clotaire Oligui Nguema, has conferred the Commander in the National Order of Gabonese Merit on Tony Elumelu, Group Chairman of United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation.
Presented at the presidential palace in Libreville, the honour recognises Elumelu’s contribution to Africa’s economic growth, especially in youth entrepreneurship and infrastructure development across the continent.
Praising Elumelu as a “visionary entrepreneur and a committed friend of our nation,” President Nguema lauded his role in empowering young Africans and driving sustainable progress through the UBA Group and the Tony Elumelu Foundation.
In his response, Elumelu expressed deep gratitude and reiterated his commitment to advancing African-led development:
“This honour reflects our shared belief that African entrepreneurs and institutions will shape our continent’s future. Gabon holds immense potential, and we are proud to contribute to unlocking it.”
Elumelu’s engagement in Gabon centres on infrastructure financing and youth entrepreneurship, with his foundation providing training, mentorship, and $5,000 in seed capital annually to young Gabonese and African entrepreneurs.
The award also underscores the growing partnership between Gabon and UBA, a key player in financial inclusion across Africa, with a presence in 20 countries and branches in the UK, France, UAE, and the U.S.
Elumelu, who also chairs Heirs Holdings and Nigeria’s largest quoted conglomerate Transcorp, has been a consistent advocate for Africapitalism—an economic philosophy that positions the private sector as a driver of Africa’s transformation.
Through the Tony Elumelu Foundation, over 18,500 entrepreneurs have been supported across 54 African countries under a $100 million, 10-year commitment.
In 2020, Elumelu was listed among TIME’s 100 Most Influential People and received Belgium’s oldest royal order for his leadership and philanthropic impact.
