May 05, (THEWILL) – President of the Republic of Gabon, General Brice Clotaire Oligui Nguema, has conferred the country’s highest national honour — Commander in the National Order of Gabonese Merit — on the Group Chairman of United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation, Mr. Tony Elumelu.
The prestigious award recognises Elumelu’s significant contributions to Africa’s economic development, particularly in the areas of youth entrepreneurship and infrastructure investment in Gabon and across the continent.
Speaking at the Presidential Palace in Libreville on Monday during the award presentation, Nguema, who was recently sworn in as Gabon’s new President, praised Elumelu for his dedication to inclusive and sustainable growth in Africa.
“Tony Elumelu is not only a visionary entrepreneur but also a committed friend of our nation, Gabon. Through his Foundation and the UBA Group, he has shown that investing in Africa is not just good business—it is the key to our shared future. Today, we honour a man whose actions continue to empower young Africans and inspire nations,” the President said.
In his response, Elumelu expressed deep appreciation for the honour and reaffirmed his commitment to supporting Gabon’s development agenda.
“I am truly humbled by this recognition. It reflects not just my personal journey, but a shared belief—that African-led solutions, African entrepreneurs, and African institutions will shape the future of this continent. Gabon holds tremendous potential, and I am proud that the Tony Elumelu Foundation and UBA Group can play a role in unlocking it,” Elumelu said.
“This is more than a medal—it is a reminder of what we can achieve together as Africans. At UBA and the Tony Elumelu Foundation, we remain committed to building bridges—not just between nations, but between ambition and opportunity,” he added.
The honour comes at a pivotal moment for Gabon as the country focuses on economic recovery and inclusive growth under new leadership.
Elumelu’s engagement in Gabon centres on two key pillars: infrastructure financing, essential for long-term economic transformation, and youth entrepreneurship, driven by the Tony Elumelu Foundation, which provides training, mentorship, and $5,000 in non-refundable seed capital annually to young entrepreneurs across Gabon and Africa.
The award also underscores the strengthening financial partnership between Gabon and UBA, a pan-African financial institution with a strong footprint across the continent, promoting financial inclusion and development.
Elumelu is the Founder and Chairman of Heirs Holdings, a family-owned investment company committed to improving lives and transforming Africa through long-term investments in key sectors such as financial services, energy, power, hospitality, technology, and healthcare.
He chairs UBA, which operates in 20 African countries, the United Kingdom, France, the UAE, and is the only African bank with a deposit-taking licence in the United States. UBA serves more than 35 million customers globally. He also chairs Transcorp, Nigeria’s largest listed conglomerate, with interests in power generation through Transcorp Power and hospitality through Transcorp Hotels Plc.
In 2010, Elumelu founded the Tony Elumelu Foundation (TEF), the leading philanthropic initiative empowering African entrepreneurs. Since inception, the Foundation’s flagship programme has supported 18,500 entrepreneurs and built a digital community of over one million Africans, as part of a US$100 million commitment to mentorship, training, and seed funding.
Elumelu is the leading proponent of Africapitalism, an economic philosophy that positions the private sector, especially entrepreneurs, as the driving force for Africa’s social and economic development.
In 2020, he was named among TIME Magazine’s 100 Most Influential People in the World and was awarded Belgium’s highest royal honour for his business leadership and efforts to empower young Africans.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
