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Tag: Elumelu

  • Excitement as Elumelu donates project to students

    Excitement as Elumelu donates project to students

    Students of the Usmanu Danfodiyo University, Sokoto (UDUS) living off-campus trooped out in excitement to witness the opening of a pedestrian bridge linking their hostels with the university. The bridge was constructed and donated by Chairman, United Bank for Africa (UBA) Plc Board of Directors, Mr Tony Elumelu.

    CAMPUSLIFE gathered that Elumelu, through UBA Foundation, acted on a distress letter sent to him by students, pleading for support in constructing a bridge on the swampy Kofar Mata area, one of the tributaries of Rima River. Before the bridge was constructed, the area was impassable, especially during rainy season, leaving students with no choice than to go through a long route to school.

    After attending National Dialogue Series organised by the Students’ Union Government (SUG) last August, Elumelu engaged students to know their challenges. The students, it was learnt, raised the issue and Elumelu promised to construct the bridge.

    The cost of construction of the 153-metre long concrete bridge was not disclosed to CAMPUSLIFE, but the project was said to have gulped multi-million naira.

    The SUG president, Idris Maibasira, led students to the opening of the bridge, praising Elumelu and the UBA Foundation for donating the project. With the completion of the bridge, Idris said he had fulfilled one of his campaign promises to students.

    On how he got Elumelu to construct the bridge, the union president said: “We wrote to the state governors and lawmakers in Sokoto State and other neighbouring states, but we didn’t get any positive response. It was by accident we organised a National Dialogue Series for students and Elumelu came through when he engaged students after the programme,”he said.

    On how much the project cost, Idris said UBA Foundation unilaterally funded the project, using its own contractors.

    “We initially estimated the cost of the project to be N12.7 million before the UBA Foundation came through. The length and width of the bridge were calculated to be 153-metre and 2.5 metre. But since UBA Foundation took up the project, we were not informed about how much was spent on the construction,” the union president said.

    Idris described Elumelu as a “global icon”, saying his impacts on the lives of the students would not be forgotten.

    Some of students, who spoke with CAMPUSLIFE, expressed appreciation to both the union leaders and the UBA Foundation for the project.

    Jabir Sanusi, a 200-Level Biological Science student, said: “We will continue to be grateful to the UBA Foundation for this kind gesture. I was personally surprised that the project was accomplished within the twinkle of an eye.”

    Another student, Zainab Abubakar, 500-Level Law, said: “The Kofar Mata route was an eyesore before the bridge was constructed. We used to experience a lot of inconvenience crossing the river. It is the closest route to my faculty and I didn’t have any option then. But, now it is a different issue and we are grateful to Mr Elumelu.”

    In appreciation, Nadia Alqazeem of Faculty of Arts and Islamic Studies expressed gratitude to the union president. She said: “We must appreciate the SUG president for this great achievement, even though he was not the one who constructed the bridge. His initiative led to the project. This is a good legacy.”

    Blessing Kamchia, a 400-Level Agriculture student, said: “The bridge has really eased our challenges in accessing the campus from Kofar Mata route. I used to go through the other route during rainy season. Now, the feeling is like stepping out of our rooms into the campus.”

    The Dean of Students’ Affair, Prof Adamu Aliyu Aliero, conveyed the school’s appreciation to the UBA Foundation on the project.

    He said: “The school management is happy with the development, which was made possible with the help of the UBA Foundation. We also commend the effort of the Students’ Union towards the realisation of this project.”

     

     

  • WEF: Tinubu, Dozie, Elumelu push Nigeria’s agenda at Davos

    Business leaders from Nigeria, amongst them the Managing Director of Oando Wale Tinubu, the Executive Director and Co-Founder, Sahara Group, Tonye Cole, Chairman, Heirs Holding, Tony Elumelu and  Managing Director/CEO,  Diamond Bank, Uzoma Dozie, joined global business executives and Heads of States to share the Nigerian perspective, at the World Economic Forum (WEF) in Davos, Switzerland.

    The also engage in robust dialogue and proffer real solutions towards achieving Sustainable Development Goals in Africa, proving once again that  the WEF platform is the most relevant and inclusive arena for leaders in all sectors, public and private across the world to discuss and proffer solutions that will create a better tomorrow.

    Speaking on the importance of inclusive growth, Wale Tinubu said; “The pathway to ensuring inclusive growth in today’s world is through sustainable development, powered by both the public and private sector.

    He said inclusive growth is critical if we are to successfully respond to the fundamental trends that have pushed the world’s economic and social systems as we know today, into a state of imbalance.

    He said with fora like the WEF, he is optimistic about “what the future holds for us all, most especially for Africa where it sometimes feels like our challenges are insurmountable. At WEF, economies are presented with the platform to set their sustainable development agendas, partner for growth and share expertise towards bettering the world.”

    Mr. Tinubu seems to have carved a niche for himself as a key WEF participant renowned for his mentorship of the Young Global Shapers Community at both WEF  in Davos and Africa. Borne out of the belief that young people are central to solution building, policy making and lasting change, the Global Shapers Community is a World Economic Forum initiative.

    He said the Global Shapers Community is a network of inspiring young people under the age of 30 working together to address local, regional and global challenges.  The Community has more than 7,000 members spanning 376 city based hubs across 156 countries.

  • Elumelu, others to speak on tax, business at LBS

    Elumelu, others to speak on tax, business at LBS

    Chairman, Heirs Holding, Dr.Tony Elumelu, will be the Guest Speaker at this year’s Lagos Business School (LBS) Alumni Day, scheduled for Thursday, November 16, 2017 in Lagos.

    Elumelu, who is also Chairman of UBA Group and Transcorp Plc, will lead discussions on the “Effects of Multiple Regulations and Taxation on Business Growth in Nigeria.”

    The other panellists include Mr. Hamzat Ayodele Subair, Chairman, Lagos State Internal Revenue Service; Mr. Taiwo Oyedele, Head of Tax & Regulatory Services and PwC West Africa Tax Leader; and Sir Ndukwe Osogho-Ajala, Chairman of Soulmate Industry Limited.

    The session, which will have Nigeria’s 2018 Economic outlook presented by Dr. Biodun Adedipe, Chief Consultant of B. Adedipe Associates and will be chaired and moderated by Prof Olawale Ajai, a Lagos Business School professor of legal, social and political environment of business.

    The event is being hosted by the Chief Executive Programme, CEP 24 and International Management Programme, IMP 2.

  • Kagame, Elumelu to lead young entrepreneurship day

    Kagame, Elumelu to lead young entrepreneurship day

    The Rwandan President and Chairman of Smart Africa, Paul Kagame and founder of the $100m Entrepreneurship Programme Mr. Tony Elumelu will be lead speakers at the Young Entrepreneurship Day (YED) at the Africa 2017 Forum.

    The Young Entrepreneurship Day will bring together some of Africa’s most-promising entrepreneurs and investors/new partners to help them scale up their ideas and businesses. The most-successful start-ups will gain access to a deal room and a week tailored course at Stanford, United Kingdom.

    The YED is a new addition to the Forum and will take place on the eve of Africa 2017, on  December 7. It has been designed to connect some of Africa’s most promising entrepreneurs and give them exposure to investors, incubators and accelerators as well as partake in workshops that will give them the skills and tools to scale up their businesses.

    Both Elumelu and Kagame have been championing entrepreneurship and will be sharing their perspectives both from government and the private sector as well as engage in an open platform with some of the upcoming leaders from across Africa. Sitting on the advisory board of the YED are Issam Chleuh and Rebecca Enonchong, two of the foremost players in impact investing and in the technology space in Africa as well as Parminder Vir, Chief Executive Officer of Tony Elumelu Foundation. Other speakers at the YED include Ben White of VC4Africa and Wale Ayeni from IFC Ventures, the venture capital wing of the World Bank’s private sector arm.

    Commenting on the YED, Minister of Investment and International Cooperation, Dr. Sahar Nasr, whose ministry is organising the Africa 2017 programme with COMESA Regional Investment Agency, said creating a pro-business environment for entrepreneurs to thrive is at the centre of her government’s policies. “Egypt has been at the forefront of making entrepreneurship work. With a bustling population of 90 million, 50 per cent of which are below the age of 30 and tech savvy, Egypt is rightly staking a claim as one of the fastest growing entrepreneurial hubs in the world,” Nasr said.Africa 2017 has been earmarked as the biggest Business to Business (B2B) and B2G gathering to take place in Africa this year. A number of heads of state have confirmed their attendance and there are 30 African investment promotion agencies and government delegations scheduled to attend. Alongside President Al Sisi of Egypt and President Kagame of Rwanda, Côte d’Ivoire President, Alassane Outtara will be in attendance as well as President of Comoros, Azali Assoumani and the Prime Minister of Mozambique Carlos Agostinho do Rosário. Some of Africa’s biggest names from business will also be attending Africa 2017, with the aim to accelerate cross-border investments and partnerships.

    The Forum will also be a platform for Egypt to showcase some of the mega projects that are underway and the opportunities linked to these in agribusiness, logistics, mining, energy construction, real estate and tourism. 

  • Elumelu draws attention to entrepreneurship, gender equality

    Elumelu draws attention to entrepreneurship, gender equality

    Chairman, Heirs Holdings and Founder, The Tony Elumelu Foundation, Tony O. Elumelu, has identified entrepreneurship and gender equality as two critical areas that need urgent attention to drive the inclusive growth and economic diversification in emerging continents like Africa.

    He joined global private sector leaders at the Future Investment Initiative Conference in Riyadh, Saudi Arabia to discuss ways to achieve economic diversification in dynamic economies. The conference was organised by the Public Investment Fund.

    Speaking on the panel of speakers including Mary Erdoes, CEO, JPMorgan Asset Management, United States; Oh Joon Kwon, Chairman, POSCO, South Korea; Frédéric Oudéa, CEO, Société Générale, France; Harvey Schwartz, President & Co-COO, Goldman Sachs, USA; and Sultan Ahmed Bin Sulayem, Chairman & CEO, DP World, UAE,  Elumelu pointed out the importance of supporting women-run businesses to achieve inclusive growth.

    He stated that these businesses empower a critical population of the economy. “Female businesses create more benefits for the society,” he said.

    An advocate of a new model for entrepreneurship in Africa, through Africapitalism, Elumelu said the philosophy plays important in powering Africa out of poverty. “Africapitalism is the intersection between prosperity and social wealth – doing good while making profit. It is a realisation that the private sector has a role to play in the social and economic diversification. We need to prioritise the young ones and prioritise SMEs if we are to achieve the much spoke about economic diversification,” he said.

    Also speaking, Bin Sulayem identified entrepreneurship as a key driver of today’s economy. “When we encourage entrepreneurship, we encourage ideas,” he said.

    Elumelu has demonstrated the potential of his Africapitalism model through his Foundation’s flagship Programme¯The Tony Elumelu Foundation Entrepreneurship Programme¯where he endowed 10,000 African entrepreneurs with $100million over a 10-year period with the goal of achieving 10million jobs within the period. Already, the Programme has celebrated its third cohort of Fellows bringing the total number of beneficiaries to 3,000 since its inception in 2015, creating an impact will significantly transform the African continent.

    “Entrepreneurship is a bottom-up approach to economic diversification. It is about trying to encourage our youths to be more enterprising, ultimately realising that they will drive the diversification process,” Elumelu said.

  • Why Africa’s growth must be private-sector driven, by Elumelu

    Why Africa’s growth must be private-sector driven, by Elumelu

    PRESIDENT of Africa’s leading philanthropy the Tony Elumelu Foundation (TEF) , Mr. Tony Elumelu, has canvassed the need for Africa’s growth to be private-sector driven by young African innovators and their transformative ideas to create millions of jobs for the continent.

    He spoke during the foundation’s forum, which ended in Lagos at the weekend.

    The meeting hosted more than 1,300 participants from 54 African countries.

    Launched in 2015, the forum was born out of the foundation’s $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs, over a decade, through the TEF Entrepreneurship Programme.

    Elumelu said: “Africa’s development, which must be private-sector led and entrepreneurially-driven, will have at its heart, young African innovators and their transformative ideas.  Only they will create the millions of jobs Africa needs. The forum has brought together Africa’s most important developmental force, its young entrepreneurs, who will become catalysts for Africa’s economic liberation.”

    The two-day event, which involved plenary panels and masterclasses, provided the Tony Elumelu Entrepreneurs with a platform to network and connect with business leaders, policymakers and investors.

    Focusing on the forum’s theme of training and mentoring, speakers discussed topics that educated, empowered and inspired the entrepreneurs, addressing the key stages needed to successfully launch a business.

    The programme emphasised the foundation’s role of uniting entrepreneurs and policymakers, as a means of ensuring that private and public sectors work together to create the best possible operating environment for entrepreneurship to thrive.

    Political and private sector leaders from across Africa, including Katsina State Governor Aminu Bello Masari; Zamfara State Governor Abdul’aziz Abubakar Yari; former Prime Minister of Republic of Benin Mr. Lionel Zinsou; Chairman, Honeywell Group Oba Otudeko and Chairman, Dangote Group Alhaji Aliko Dangote directly addressed the conditions needed for stimulating entrepreneurial growth.

    Senior members of global development institutions, including Wale Ayeni, Senior Investment Office, International Finance Corporation; Stephen Tio Kauma, Director Human Resources, Afrexim Bank and Andre Hue, Deputy Country Director, Agence Française de Développement, spoke of a new paradigm, driven by the need for a private sector-led change.

    Vice President Yemi Osinbajo, who addressed the 3rd cohort of TEF entrepreneurs, said: “This generation of young people will do the exceptional. You are the reason Africa will work. The length and breadth of display of talent have shown that there is indeed hope”.

     

     

     

  • Elumelu advises Buhari to review DisCos’ ownership structure

    Elumelu advises Buhari to review DisCos’ ownership structure

    The Chairman of Heirs Holding and United Bank for Africa (UBA) Mr. Tony Elumelu has advised President Muhammadu Buhari to reconsider the ownership structure of the Electricity Distribution Companies (DisCos) with a view to taking over controlling shares of the firms.

    He spaoke on the sidelines of ongoing 23rd Nigerian Economic Summit holding in Abuja.

    Mr. Elumelu noted that “in as much as some existing investors might like the idea, the Federal Government could not continue to allow the DisCos hold the nation down with inefficient power distribution.”

    His solution to the epileptic  power supply in the country is the “recapitalisation of the DisCos and then increase its stake from the current 49 per cent to 51 per cent and sell the controlling stakes to new investors, as the current operators have become obstacles to the realisation of the nation’s power capacity goal.”

    According to him, “our people are very enterprising and they want to succeed. But they need the right environment to succeed. I appreciate what the government is doing for electricity but we need to do more.  I empathise with the government on its efforts in that sector. But Mr. Vice President, I think there is a lot we can do to correct the ownership of that sector without affecting the property rights of the investors.  That sector must be dealt with it for us to have power to do business.”

  • Elumelu advises private, public leaders on legacy

    Elumelu advises private, public leaders on legacy

    Heirs Holdings Chairman Mr. Tony Elumelu has urged leaders in the private and the public sectors to consider their legacy and how history will judge them.

    He spoke while addressing over 200 senior officers at the Armed Forces Command and Staff College, Jaji, Kaduna, at a lecture titled: “Leadership: Private sector perspective”.

    The participants included senior military officers from the rank of major and equivalent of the Army, Navy and Airforce and their instructors.

    Elumelu told the senior military officers that leaders, who succeed are those who think about legacy and who are concerned about how history would judge them.

    “They understand that leadership opportunities don’t last forever. As a continent endowed with so much, we must raise the standard of living of our people through conscientious leadership,” he said.

    Elumelu stated: “Every opportunity to discuss and examine leadership is a welcome opportunity to me. Like me, most people who want to see development are excited to discuss leadership. It is the reason one country is successful and another country is failing. It is the difference between poverty and prosperity.”

    He queried: “Do you wonder why a country that is not endowed enjoys prosperity, while the one that is greatly endowed lives in poverty? The reason is leadership.”

    Addressing the question about whether leaders are born or made, Elumelu said: “Leaders are made and not born. Although certain factors shape whether a leader succeeds, these factors are not necessarily destiny-driven factors. Those who succeed are driven by a mission, they prepare for leadership.

    “Great leaders set the purpose and define it clearly. They break it down so that everyone in the chain of command not only understands this purpose, but buys into it.”

    He added: “Leaders, who succeed are those who think about legacy, who are concerned about how history would judge them. They understand that leadership opportunities don’t last forever. As a continent endowed with so much we must raise the standard of living of our people through conscientious leadership.”

    Through the Tony Elumelu Foundation, Elumelu has endowed $100million to fund, train and mentor 10,000 African entrepreneurs from across 54 countries of the continent.

    On the most important attribute of leadership, Elumelu said: “You must get the people equation right. Leadership is about instilling confidence in people. You work and deliver results through people and if those people are positively mobilised, you will succeed.”

    The College Commandant, Air Vice Marshall Suleiman Dambo, hailed Tony Elumelu’s evident expertise in leadership.

    “Your conglomerates and multinational corporations present in 20 African countries and in so many strata of businesses ranging from the financial sector, oil and gas and real estate are a testament to your expertise on leadership. By your coming here today, you have made so many leaders out of our students.”

    Elumelu’s commitment to leadership is illustrated in his own professional accomplishments.

    In 1997, aged 34, he assembled a group of other young professionals to take over a distressed bank.

  • Human trafficking strips youth of dignity, says Elumelu

    Human trafficking strips youth of dignity, says Elumelu

    Founder, Tony Elumelu Foundation Mr. Tony Elumelu has hailed Director-General of Nigeria’s National Agency for the Prohibition of Trafficking in Persons (NAPTIP) Julie Okah-Donli for her accomplishments at the agency. Elumelu, who spoke when the foundation hosted the NAPTIP Director-General, pledged his group’s commitment to the war against human trafficking.

    Saying human trafficking strips youth of dignity, he: “We support what you are doing and we stand behind you. The Tony Elumelu Foundation believes in the empowerment of our youths and as we all know, they cannot be empowered if they are not free.”

    “We stand with you in eradicating human trafficking in Nigeria and will engage extensively with you as you work to restore dignity to mankind, protect the dignity of our youth and ensure no one can take undue advantage of them.”

    He made an appeal to the government to increase budgetary funding to the cash-strapped agency.

    “I call on the Federal Government to make more resources available to support you. As private companies, we pay taxes to the Federal Government and we want to see a more judicious use of the taxes paid.”

    Elumelu urged other private sector players to join the agency to fight human trafficking, assuring them of the credibility and competency of NAPTIP and its DG whom he could vouch for. Elumelu hailed Okah-Donli for her accomplishments at the agency, including the conviction of over 325 persons, and successful rehabilitation of more than 12,000 victims. He added that she was a former staff of leading pan-African bank, United Bank for Africa (UBA).

    “She is an alumna of the United Bank for America (UBA), Africa’s global bank, thus we are not surprised at what she has become. We predicted that she will attain such great heights because of the passion she has always had for human trafficking.”

    Mrs. Okah-Donli said UNESCO ranks human trafficking as the third most lucrative criminal enterprise in Nigeria.

    Thus, she said agencies like NAPTIP needed good laws, sustained funding and equally important, critical support from local and global stakeholders to execute the urgent war against human trafficking.

    Mrs. Okah-Donli said: “We can no longer wait for government alone to fight this war. Many victims are on standby, anxious to be fully reintegrated into society. At the agency, we are desperate for assistance to empower and rehabilitate these millions of victims in need. Thus, we are identifying and approaching organisations like the Tony Elumelu Foundation (TEF) for support.”

  • Agric, others’ll create jobs in Africa, says Elumelu

    Agric, others’ll create jobs in Africa, says Elumelu

    A call has gone to African leaders and development institutions to help address the deepening job and employment crisis bedevilling the continent.

    The Chairman, Heirs Holdings and Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, who made the appeal, said supporting and paying more attention to agriculture, power and developing entrepreneurship, would turn  the situation around.

    Elumelu who spoke on: How Do We Create 10 million Jobs by 2020? at the Youth Connekt Africa Summit in Rwanda, yesterday, said access to electricity and increased focus in the agric sector would enhance entrepreneurship and tackle the challenge of unemployment through the creation of more jobs in the continent.

    Elumelu, an advocate of entrepreneurship and Africapitalism, empahsied that private sector has the responsibility to play the lead role in contributing to job creation in Africa, and cited the example of the TEF and its various investments in these key areas, adding that this is visible from the $100million commitment towards supporting entrepreneurs over the years.

    He said: “Today we have businesses in 20 African countries and employ 30,000 people directly and 50,000 people indirectly. Agriculture, access to electricity and entrepreneurship have the potential to create more jobs in Africa.”

    The TEF boss stated that Africa can be self-reliant and self-dependent if the right infrastructure and government support are put in place to boost these sectors. In this regard, he commended the effort of President Paul Kagame for his brilliant initiatives in the areas of entrepreneurship and attracting key investments to the African continent.

    The President African Development Bank (AfDB), Akinwumi Adesina, who supported Elumelu’s stance, acknowledged that agriculture can create jobs for the teeming African population if youths approached the sector, not just as a way of life, but as a business. He used the opportunity to commend Elumelu for his work in entrepreneurship and pledged to support the work of the TEF in the creation of jobs.  “I applaud Tony Elumelu’s work in entrepreneurship, because entrepreneurship is key. We will help to scale up what Tony Elumelu is doing. If others are doing same, we will succeed in Africa.”

    The Rwandan Development Board also hosted Elumelu at a roundtable breakfast meeting with the Founder and Executive Chairman of Alibaba Group, Jack Ma  to discuss investment opportunities in Africa.