Tony Elumelu Reveals “The Energy We Need To Fuel Africa’s Development”
Elumelu, while highlighting the value for the continent at large, stated “It’s always thrilling to see young Africans, from the Gulf Coast to Central Africa to the Middle East. This is the energy we need to fuel Africa’s development in the 21st century.”
A frontliner in the drive for shared prosperity in Africa, Tony Elumelu has emphasized the type of energy required to fuel development on the continent.
The proponent of the economic philosophy of Africapitalism—which positions the private sector, and most importantly, entrepreneurs, as the catalyst for the social and economic development of the African continent—shared his conviction through an illustration from a recent visit to the Benin Republic.
Declaring that “my trip to Benin Republic affirmed once again my belief in Africa’s potential,” the philanthropist explained, “First stop, Sèmè City. I addressed 100+ innovative, young African entrepreneurs building the future of Africa, led by the CEO, Claude Borna. Sèmè City has been a longstanding partner of The Tony Elumelu Foundation, sharing our commitment to youth entrepreneurship. Sèmè City’s vision of a tech hub in Africa is one I salute—state and private sector united. We have collaboratively funded, trained, and empowered 400 young Beninese entrepreneurs with high-impact ventures, jointly catalyzing change and empowering the next generation.”
Highlighting the value for the continent at large, the business leader who founded TEF in 2010 stated, “It’s always thrilling to see young Africans, from the Gulf Coast to Central Africa to the Middle East. I was filled with excitement. This is the energy we need to fuel Africa’s development in the 21st century.”
Since its founding, the Tony Elumelu Foundation is estimated to have disbursed over $100 million (USD) in funding and provided mentoring and capacity-building support to more than 20,000 young entrepreneurs across Africa—creating over 400,000 direct and indirect jobs.
The Chairman of the pan-African financial service group, catering to the needs of 45 million customers across 20 African countries, as well as the United Kingdom (U.K.), United States of America (USA), France, and the United Arab Emirates (UAE)—United Bank for Africa(UBA), validated the cascading impact of the Tony Elumelu Foundation by sharing another experience from his trip.
“Stopover at AfriCereal Group, co-founded by The Tony Elumelu Foundation beneficiaries, Steve Hoda and Dohou Maya, who have empowered over 10,000 farmers across West Africa. The AfriCereal team has gone on to employ 10 team members, playing their part in facilitating zero hunger. I was so proud to see how they have transformed the seed grant from TEF into this venture that is impacting lives and communities,” he narrated.
“It was great to interact with our people, as they support our customers, reinforcing our commitment to deliver excellent services,” said the master entrepreneur, who makes investors smile with the outstanding performance of one of Nigeria’s largest quoted conglomerates, which he chairs—Transcorp Group. He spoke of his “quick visit to a UBA Branch in Cotonou.”
Re-emphasizing his long-standing stance that “Africa needs access to reliable and abundant energy,” the turnaround king further revealed that the trip included “a quick courtesy call on H.E. Samou Adambi Seidou, Minister of Energy, Water & Mines, and H.E. Romuald Wadagni, Minister of Economy & Finance, whose dedication to enhanced access to electricity across West Africa aligns with our integrated energy strategy and our commitment to transforming Africa’s energy landscape. The work we do at Transcorp Group and Heirs Energies is bringing the power our people need, to homes and businesses across the region.”
While Transcorp Group, whose subsidiaries include Transcorp Power—one of the leading producers of electricity in Nigeria—and the front-runner hospitality brand, Transcorp Hotels Plc, is one of the nation’s largest quoted conglomerates, Heirs Holdings—founded by Elumelu—is his family-owned investment company committed to improving lives and transforming Africa through long-term investments in strategic sectors of the African economy, including financial services, hospitality, power, energy, technology, and healthcare.
The prominent champion of entrepreneurship in Africa who is the Chairman of these far-reaching value-adders made the narrative in a social media post on Thursday, September 12, 2024, along with the featured pictures. …Continue Reading
