Tony Elumelu shares story of becoming bank manager at 27, urges trust in Africa’s youth

Chairman of Heirs Holdings and United Bank for Africa (UBA), Tony Elumelu, has shared how he became a bank branch manager at the age of 27, stressing the importance of trusting young people with leadership roles.

Elumelu disclosed this in a post on his X handle on Friday, recalling that his appointment as branch manager at AllStates Trust Bank in Nigeria changed the course of his life.

“At 27, I was given the opportunity of a lifetime: branch manager at AllStates Trust Bank, Nigeria,” he wrote. “Many doubted a young man could lead a bank branch. That chance changed the entire course of my life. It gave me confidence, a platform, and perspective.”

He credited HRM Ebitimi Banigo, then chairman of the bank, for giving him the opportunity, despite concerns about his age.

Elumelu outlined three lessons from the experience, including that age is not a barrier to leadership, trust is the most valuable capital, and perspective is crucial.

“If you can execute, are hungry to learn, and committed to results, you can lead at any age,” he stated. “Leadership is about clarity of vision and the discipline to execute.”

“My journey didn’t start with money – it started with trust. Trust was the seed that propelled everything else. Give young people trust, and they will surprise you,” he added.

The billionaire investor said the experience shaped his commitment to empowering young Africans through the Tony Elumelu Foundation (TEF), which provides training, mentorship, and seed capital to entrepreneurs.

“That’s why today, I am passionate about giving young people the same chance I was given,” he said. “Cascading luck. Catalysing opportunity. It is the reason we invest in Africa’s youth at the Tony Elumelu Foundation, because someone once invested in me.”

Since its inception, the foundation has disbursed over $100 million in seed funding to more than 20,000 entrepreneurs across 54 African countries.