Banking tycoon, Tony Elumelu Wins TIME100 Impact Award

United Bank for Africa (UBA) Plc Chairman, Tony Elumelu has clinched the world’s most coveted awards, TIME100 Impact Awards held in Dubai, United Arab Emirates (UAE).

Elumelu who also is the chairman of Heirs Holdings, TransCorp Plc and Founder of Tony Elumelu Foundation (TEF) was decorated with the prestigious award on Monday, March 28th, 2022.

Speaking at the glamorous event, Elumelu said; “The world is in need of people like us –more than ever before. We should pull resources together, we should commit now to help in any way possible in economically empowering others.

“Tribute to the hard-working young men and women in Africa who aspire to help their families and their communities. In the 21st century, there’s so much poverty, sickness, and bitterness in the world. Our calling should be one that has to prioritize humanity.

“My story of rising from a modest beginning to launching the Tony Elumelu Foundation in 2010 is aimed at creating significant opportunities and economic hope for others. All of us need to work together to uplift through the message of entrepreneurship.”

Elumelu’s plea is part of the reason he was on the stage at the Museum of the Future in Dubai.

The billionaire has spent his career advocating for economic empowerment in the less fortunate places in the world.

Elumelu’s foundation has given $5,000 each to 15,000 young entrepreneurs from 54 African countries as part of his effort to grow the entrepreneurial spirit in Africa and encourage economic development.

Besides, for over 10 years Tony Elumelu Foundation (TEF) has empowered thousands of women and men across the 54 African countries, by catalysing economic growth, driving poverty eradification and ensuring job creation.

The Foundation leverages its strong relationships in the public, private and development sectors to drive its mission of creating prosperity for all.

In 2015, the Foundation launched the TEF Entrepreneurship Programme, a $100 million commitment by Elumelu to empower 10,000 African entrepreneurs over 10 years.

So far, the Tony Elumelu Foundation has trained, mentored, and funded over 10,898 young African entrepreneurs across all 54 African countries through its entrepreneurship programmes, and has provided capacity-building support, advisory and market linkages to over one million Africans through its digital networking platform, TEFConnect.

This year (2022), Tony Elumelu Foundation has empowered 4,949 entrepreneurs with over $24.75 million to live their dreams and create wealth in Africa.