Anthony Onyemaechi Elumelu, born on March 22, 1963, in Jos, Nigeria, is a distinguished economist, entrepreneur, and philanthropist. He is the founder and chairman of Heirs Holdings, a family-owned investment company with interests in sectors such as financial services, hospitality, power, energy, technology, and healthcare. Elumelu also chairs the United Bank for Africa (UBA) and Transcorp, a leading Nigerian conglomerate.
Early Life and Education
Elumelu hails from Onicha-Ukwu in Delta State, Nigeria. He earned a Bachelor of Science degree in Economics from Ambrose Alli University and a Master of Science degree in Economics from the University of Lagos. He also holds honorary doctorates from several universities.
Career
Elumelu’s career began in the Nigerian banking sector, where he worked at Union Bank as a youth corps member. He later joined Allstates Trust Bank. In 2005, he led a merger of Standard Trust Bank and United Bank for Africa (UBA), transforming UBA into a pan-African institution with operations in multiple countries.
In 2010, he founded Heirs Holdings, focusing on investments that drive economic growth and development across Africa. He also established The Tony Elumelu Foundation, dedicated to promoting entrepreneurship and empowering young African entrepreneurs.
Philanthropy
Through The Tony Elumelu Foundation, Elumelu has committed substantial resources to support African entrepreneurs. The foundation’s flagship Entrepreneurship Programme has empowered thousands of individuals across all 54 African countries, fostering economic growth and job creation.
Personal Life
Elumelu is married to Dr. Awele Vivian Elumelu, a medical doctor, and they have seven children. He is known for his advocacy of “Africapitalism,” a philosophy that emphasizes the role of the private sector in driving economic and social development in Africa.
Recent Developments
In recent years, Elumelu has continued to influence discussions on Africa’s economic development. He emphasizes the importance of youth entrepreneurship in addressing challenges such as climate change and advocates for private sector-led growth to drive the continent’s progress
