The Nation Newspaper

Tag: Tony Elumelu

  • Elumelu Foundation launches $100m scheme

    THE Tony Elumelu Foundation has launched a $100million Entrepreneurship Programme for Africa in Lagos.

    Speaking yesterday at a  briefing to announce the multi-million dollar scheme, its Chairman, Mr Tony Elumelu, said the programme is unique because apart from offering access to cash, it will enable beneficiaries with good business ideas to enjoy mentorship and support to build bankable business plans.

    Elumelu, who described himself as an African made business mogul, said one of the reasons he made it in business was because he benefited from the mentorship of Chief Ebitimi Emmanuel Banigo of the defunct All States Bank. He added that with the training he received from Banigo, he and his team were able to take over and revive a failing bank.

    He said the future belongs to entrepreneurs, who he said, would not need to look for jobs, but would rather create some. He said it was for this that entrepreneurs should be assisted to make it in business.

  • The return of Tony Elumelu

    The return of Tony Elumelu

    For former Managing Director of the United Bank for Africa (UBA), Chief Tony Elumelu, the sun is shining again after the cloudy years. He is back in the saddle as the Chairman of the Board of Directors of the bank long after the Central Bank of Nigeria retired him and some other bank CEOs while the current Emir of Kano, Sanusi Lamido Sanusi, held sway as CBN governor.

    Elumelu later set up an investment company, Heirs Holdings, which holds stakes in a number of leading African business organisations, including Transcorp and UBA. His ascension as the chair of the board of UBA brings to an end the eventful tenure of Ambassador Joe Keshi.

    A statement issued by Phillips Oduoza, Group Managing Director and CEO of UBA, was full of praise for his predecessor. “Tony Elumelu’s track record at UBA speaks for itself. His return to the board brings a depth of knowledge and experience in the African financial services industry that is second to none. We are privileged to have him lead the Board at this critical stage in our development,” the statement reads.

    For Tony, it is another trip on a familiar terrain.

  • Myma Bello-Osagie marks 60

    Myma Bello-Osagie marks 60

    IT was a convergence of Nigeria’s crème de la crème at the Oriental Hotel, Lagos, as Myma, the beautiful wife of Hakeem Bello-Osagie, celebrated her 60th birthday. From Aliko Dangote, Femi Otedola and Tony Elumelu, Governor Liyel Imoke to former Cross River State, Governor Donald Duke, Governor Godswill Akpabio, Jim Ovia, Otunba Niyi Adebayo, John Edozien and many more, prominent Nigerians from all walks of life showed up.

    Dr Myma Bello-Osagie ,a seasoned lawyer, currently serves as senior partner of Udo Udoma & Belo-Osagie, one of the leading law firms in Nigeria. She also heads its telecommunications and oil & gas teams. Her areas of specialisation include corporate restructuring, acquisitions, foreign investment, regulatory communications and equity financing.

    Highly rated for her works, she also sits on the board of various companies and acts as a trustee on the board of several non-profit making organisations, including the African Leadership Foundation, the African Wildlife Foundation and the Art and Business Foundation. She is also reputed as an avid art collector.

  • Awele Elumelu rocks

    Awele Elumelu rocks

    DR. Awele Vivian Elumelu, better half of former Bank Chief, Tony Elumelu, is one of the very few top bank MDs’ wives that people have not stopped talking about in the fashion and style department.

    The mother of five is representing well and participating in all the offerings that crop up in the social calendar. A collector of the finest trinkets, especially gold from the most venerated designers in the world. Awele is now a regular face at most social events and making the best of the opportunity. But Awele does not rock alone; she makes sure her board room- loving hubby also catches in the fun.

    Highly cerebral, she is Chief Executive Officer of Avon Medical Services Limited.

  • Firm to commit $2.5b to Africa’s power sector

    Firm to commit $2.5b to Africa’s power sector

    Heirs Holdings Limited, a pan-African proprietary investment company, chaired by Tony Elumelu, has promised to commit $2.5 billion to Africa’s power sector.

    The Director, Marketing and Corporate Communications, Heirs Holdings, Moky Makura, in a statement, said Heirs Holdings is the single largest investor included in the White House statement announcing the Power Africa initiative by United States President Barack Obama during a town hall meeting in South Africa.

    Makura explained that Power Africa is a multi-stakeholder partnership between the United States, the governments of Ghana, Tanzania, Kenya, Liberia, Nigeria and Ethiopia, and the African private sector, with the shared objective of accelerating investment in Africa’s power sector over the next five years.

    Makura said the initiative was launched in South Africa during Obama’s town hall at the University of Cape Town, adding that earlier this year, Elumelu’s holding company, through its investee company, Transnational Corporation of Nigeria (Transcorp), purchased the Ughelli power plant, one of Nigeria’s largest power assets, which it plans to restore to its full generating capacity of 1000 megawatts.

    On the investment, Elumelu said: “The investment we are making demonstrates our intent to become a significant player in the power sector. It also shows in a clear and meaningful way that African capital can and should be part of the solution to Africa’s challenges. We need more African companies to step up and get involved in Africa’s development.”

  • New fund to boost impact investing in Africa launched

    New fund to boost impact investing in Africa launched

    A new fund to boost  investment in Africa, the Impact Economy Innovations Fund (IEIF)  has been launched by the Rockefeller Foundation and  Tony Elumelu Foundation.

    The launch was hosted by The Rockefeller Foundation, the Tony Elumelu Foundation, and the Bertha Centre for Social Innovation & Entrepreneurship at the Impact Investing in Africa: Accelerating the Industry Regionally Forum held at  University of Cape Town (UCT) Graduate School of Business on Friday, April 5

    It provided a platform to introduce the investment and entrepreneurial community from  the continent to the concept and practice of impact investing.

    Through a series of presentations and panel discussions, participants, according to a statement issued  by the Tony Elumelu Foundation, developed a better understanding of the barriers to and opportunities for unlocking greater investment capital for impact at scale, while strengthening the sector’s entrepreneurial talent and African ecosystem.

    “Throughout its 100 year history, The Rockefeller Foundation has worked to enhance the impact of innovative thinkers and actors,” said Eme Essien Lore, Acting Managing Director at The Rockefeller Foundation.  “Now, during our Centennial year, our work is helping accelerate the growth of the impact investing industry in Africa as we partner with organizations that are at the forefront of helping to achieve equitable growth for all, such as The Tony Elumelu Foundation and the Bertha Centre for Social Innovation and Entrepreneurship.”

    Dr. François Bonnici, Director of the Bertha Centre at the UCT Graduate School of Business said, “We are conducting research on impact investing in South Africa to provide an annual barometer to track the trends and practices in the sector. With the support of The Rockefeller Foundation and The Tony Elumelu Foundation, the possibilities for impact investing in Africa are considerable.”

    The IEIF will fund proposals geared toward projects that seek to enable capital solutions, foster entrepreneurial ecosystems and promote impact investing industry infrastructure – ultimately aimed at impacting the lives of poor or vulnerable people throughout Africa.

    “Impact Investing is a critical tool in driving our agenda of promoting entrepreneurship for lasting economic and social development in Africa. We want to see more deals of this nature and our commitment to support this new fund is just the beginning,” said Dr. Wiebe Boer, CEO of the Tony Elumelu Foundation. “

    The IEIF will be managed by The Global Impact Investing Network (GIIN) in close collaboration with the Tony Elumelu Foundation and The Rockefeller Foundation.  A Request for Proposals (RFP) has been issued, calling for submissions to the IEIF that align with the Fund’s objective of boosting the development of robust regional markets.

  • Elumelu Foundation, USAID Partnership

    Elumelu Foundation, USAID Partnership

    The Tony Elumelu Foundation and United States Agency for International Development (USAID) last friday, January 18, 2013 held a discussion on US-Nigeria public-private partnerships on a new way of improving economic development in Nigeria during the visit by USAID’s Administrator, Dr. Rajiv Shah to the Foundation’s office in Lagos.

    Picture 1. Heirs Holdings Chairman, Mr. Tony  Elumelu with Dr Rajiv Shah.

    Picture  2. L-R Ms. Arunma Oteh, Director-General, Security Exchange Commission (SEC), USAID Administrator, Dr Rajiv Shah, host, Chairman,  Heirs Holdings,  Mr  Elumelu and Dr. Aliko Dangote,  President Dangote Group.

     

     

     



     


  • Phillip Oduoza, wife celebrate Tony Elumelu

    Phillip Oduoza, wife celebrate Tony Elumelu

    The Group Managing Director of UBA, Phillip Oduoza and his wife, Jumai, recently organised a reception in honour of Mr. Tony Elumelu, following the honour of Commander of the Order of the Niger (CON) conferred on him by the Federal Government recently.

    It will be recalled that torrents of congratulatory messages have poured in since Elumelu was conferred with the award. And as would be expected, the reception was a well attended event. It attracted the movers and shakers of the Nigerian business, political, media, entertainment and social sectors. Among them were Oscar Onyema; Aliko Dangote; Wilie and Nkiru Anumundu; Dele Momodu; Niyi Adebanjo; Alex Otti and wife; Albert Okumagba; Rita Dominic; Kanayo O. Kanayo; John Momoh; Jite Okoloko; Chief I. C Ogbue; Chief Kola Jamodu; Frank Aigbogun; Funke Opeke; Emeka Izeze; Leo Stan Ekeh and Pastor Tony Rapu and his wife, among others.

    The Oduozas were the perfect hosts, moving from group to group and ensuring that everyone had the best of time. Guests were treated to the choice wines and sumptuous meals. The special guest of honour, Elumelu, and his wife, Awele, were all smiles as they mingled freely with guests.