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This profile was last updated on 10/20/14  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Tony O. Elumelu

Wrong Tony O. Elumelu?

Employment History

Board Memberships and Affiliations


  • Master of Science , Economics
    University of Lagos
  • Bachelor of Science degree , Economics
    Bendel State University
  • Harvard Business School
  • honorary doctor of science degree
    Benue State University
  • M.Sc. Degrees , Economics
    University of Lagos
  • B.Sc. , Economics
    Bendel State University
  • IMD
153 Total References
Web References
AFEX: Africa Exchange Holdings, 20 Oct 2014 [cached]
East Africa Exchange is a wholly owned subsidiary of AFEX, a limited liability company registered in 2012 in the British Virgin Islands, with principal investors Nicolas Berggruen, Tony Elumelu, and Jendayi Frazer.
Tony Elumelu, AFEX Partner and Chairman of the Board
Tony O. Elumelu, MFR, is the Chairman of Heirs Holdings Limited, an African proprietary investment company with a long-term investment horizon in key economic sectors that can propel Africa's economic development. Heirs Holdings is committed to the economic transformation of Africa through investments that create both economic prosperity and social wealth. Mr. Elumelu is also the Founder of The Tony Elumelu Foundation, an Africa-based and African-funded philanthropy whose mission is to identify and groom African business leaders and entrepreneurs to enhance the competitiveness and growth of Africa's private sector.
Partnership forms to support Young African Leaders Initiative (YALI) - AfricanBrains, 14 Aug 2014 [cached]
Tony O. Elumelu Chosen as Advisor of YALI's Alliance on Emerging African Leaders; Foundation to Provide Guidance to the Initiative and Help Identify Candidates for YALI Support
LAGOS, Nigeria, July 1, 2013/African Press Organization (APO)/ - The Tony Elumelu Foundation ( and its founder, Tony O. Elumelu (, chairman of Pan African investment group ( Heirs Holdings Limited (, have been selected by the U.S. Agency for International Development (USAID) ( to help guide and support key components of President Obama's Young African Leaders Initiative (YALI) ( through the agency's Alliance on Emerging African Leaders (AEAL) (
President Obama launched YALI ( in 2010 to support young African leaders, as they work to spur growth and prosperity, strengthen democratic governance and enhance peace and security across the continent.
Mr. Elumelu has been nominated to provide guidance to AEAL along with USAID Administrator Rajiv Shah and other global leaders on the programme's Coordinating Group.
We are delighted also to find a further opportunity to work with USAID, building on our existing relationship through USAID's Private Capital Group for Africa," said Mr. Elumelu (
Tony Elumelu | Welcome to Transcorp, 10 April 2014 [cached]
Tony Elumelu Tony Elumelu, CON
Tony O. Elumelu is the Chairman of Heirs Holdings Limited, an African proprietary investment firm that focuses on creating economic and social value in Africa, via long-term investment in a number of sectors including financial services, natural resources, infrastructure, healthcare and real estate. He is also the Founder of The Tony Elumelu Foundation, an African based and funded philanthropy, whose mission is to identify and assist entrepreneurs and the leaders of Africa's increasingly confident private sector, serve as a source of policy development, and work to ensure that the private sector drives economic growth across Africa. His corporate reputation as a leading African business leader was founded on his role in re-shaping the African financial services industry. He was the driving force behind the rise of United Bank for Africa (UBA), transforming it from a single country bank, to a Pan-African institution serving over 7 million customers in 20 African countries and operating in three continents.
He earned a Bachelor of Science degree in Economics from Bendel State University and a Master of Science in Economics from the University of Lagos. He has attended Harvard Business School, where he completed the Advanced Management Program. He has also completed management programs at the Institute of Management Development in Lausanne, Switzerland, and the Singapore Institute of Management.
He holds an honorary doctor of science degree from Benue State University and an honorary doctor of business administration from the University of Nigeria, Nsukka.
Tony Elumelu: "Heirs ..., 11 Sept 2014 [cached]
Tony Elumelu: "Heirs Holdings has the ambition to generate at least a quarter of Nigeria's power con
UBA Group Appoints Tony O. Elumelu as Chairman
Mr Elumelu will deliver the keynote address at this year's West African Power Industry Convention (WAPIC) ( in Lagos from 18-19 November.
Mr Elumelu has termed his economic philosophy as "Africapitalism", which he says places more weight on long-term investments in key sectors that drive growth. He explains: "my personal experience also suggests that sustained economic prosperity must be inclusive and must create social wealth.
During his keynote address at WAPIC in Lagos in November, Tony Elumelu says he will "discuss the opportunities that I have discovered in the power space and the efforts of African power sector leaders through the West African Energy Leaders Forum to improve access to electricity across West Africa."
UBA Group Appoints Tony ..., 26 Aug 2014 [cached]
UBA Group Appoints Tony O. Elumelu as Chairman UBA Group Appoints Tony O. Elumelu as Chairman | AfricanSelect
UBA Group Appoints Tony O. Elumelu as Chairman
Tony Elumelu: "Heirs Holdings has the ambition to generate at least a quarter of Nigeria's power consumption needs in the next five years"
LAGOS, Nigeria, August 26, 2014/African Press Organization (APO)/ -- The Board of United Bank for Africa Plc (UBA) yesterday announced the appointment of Mr. Tony O. Elumelu, C.O.N. as Chairman, succeeding Ambassador Joe Keshi.
Elumelu retired as Group Managing Director and CEO of UBA in 2010, following the introduction by the Central Bank of Nigeria of 10 year tenure limits for bank CEOs.
Widely regarded as one of the leading business figures in Africa, Elumelu has developed a reputation for identifying value and bringing a long term investment orientation and discipline to sectors critical to Africa's development, including financial services, power, oil and gas, agribusiness, real estate and hospitality. As the founder of the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic institution, Mr Elumelu is committed to the promotion of entrepreneurship in Africa, based on his championing of Africapitalism, the philosophy that the African private sector is the critical enabler of the continent's economic and social transformation.
The Chairmanship of UBA will complement Mr Elumelu's existing positions with other Heirs Holdings' portfolio businesses, including the Chairmanship of Transcorp, Nigeria's largest listed conglomerate by market capitalisation.
"Tony Elumelu's track record at UBA speaks for itself.
"'I would also like to thank my predecessor, Ambassador Keshi and the entire board for their contributions to the growth and development of the bank" said Mr Elumelu.
Tony Elumelu Profile
Tony O. Elumelu ( is an entrepreneur and a philanthropist. Born, raised and educated in Africa, Mr. Elumelu has been responsible for creating businesses across the continent, in sectors critical to Africa's economic development. In 2010, he founded Heirs Holdings, an African investment holding company, with investments in financial services, power generation, oil and gas, agribusiness, real estate and hospitality. In the same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic institution dedicated to catalyzing entrepreneurship across Africa.
He is Chairman of Heirs Holdings as well as UBA Group Plc and Transcorp Plc, which is Nigeria's largest listed conglomerate.
Mr. Elumelu is the author and leading proponent of "Africapitalism," an economic philosophy which advocates for the private sector's commitment to Africa's development through long-term investment in strategic sectors of the economy, that drive economic prosperity and social wealth.
In 2013, Mr. Elumelu received the Leadership Award in Business and Philanthropy from the Africa-America Institute Awards. He was also named African Business Icon at the 2013 African Business Awards.
Mr. Elumelu presently serves as a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL) and USAID's Private Capital Group for Africa Partners Forum.
Mr. Elumelu is on Twitter @TonyOElumelu.
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