Tony Elumelu, one of Africa’s leading investors and philanthropists, has been named in the 2020 TIME100; the annual list of the 100 most influential people in the world.
Now in its seventeenth year, the list recognises the activism, innovation, and achievement of the world’s most influential individuals.
One of only four Africans on the 2020 list, Elumelu is recognised for his track record of business turnaround and value creation, and economic empowerment of young Africans.
Tony Elumelu is the Chairman of Heirs Holdings, a family-owned investment company, committed to improving lives and transforming Africa, through long-term investments in strategic sectors of the African economy, including financial services, hospitality, power, energy and healthcare.
He is also the Chairman of the United Bank for Africa (UBA), a top pan-African financial services group, which operates in 20 countries in Africa, the United Kingdom, France, and is the only African bank with a commercial deposit taking licence in the United States.
The bank provides corporate, commercial, SME and consumer banking services to more than 21 million customers globally.
Elumelu also chairs Nigeria’s largest quoted conglomerate, Transcorp, whose subsidiaries include Transcorp Power, one of the leading generators of electricity in Nigeria and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand.
In 2010, however, he created the Tony Elumelu Foundation (TEF), the philanthropy that empowers a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries.
The Foundation, since its inception, has funded just under 10,000 entrepreneurs and created a digital ecosystem of over one million as part of its ten year, US$100m commitment through the TEF Entrepreneurship Programme.
The self-funded Foundation is increasingly sharing its unique ability to identify, train, mentor and fund young entrepreneurs across Africa, with institutions such as the UNDP, the ICRC and leading European development agencies.