Elumelu notes that he takes on the role of Chief Marketing Officer in every organisation he leads, ensuring a deliberate and consistent approach to brand building that matches substance with execution
“Brand is Who You Are”: Tony Elumelu Shares Blueprint Behind UBA, Transcorp, TEF Success
Tony Elumelu, investor, philanthropist, and proponent of Africapitalism, says building a trusted brand takes years of effort — but destroying it can happen in seconds. It’s a truth, he insists, that guides every venture he leads.
For Elumelu, brand is not a marketing buzzword but the foundation of trust and the lifeblood of business. The United Bank for Africa (UBA) chairman — whose financial institution recently reported a staggering ₦3.2 trillion gross profit — calls it “the beginning of trust, the engine of loyalty, and the bridge connecting consumer, product and enterprise.”
“Success is not just about operations, it’s about perception,” he says. “How do your customers, employees and competitors experience your brand?”
UBA’s newly redesigned website reflects this ethos, offering faster navigation, real-time Nigerian stock prices, news updates and a premium user experience designed to appeal to young, upwardly mobile customers.
Elumelu notes that he takes on the role of Chief Marketing Officer in every organisation he leads, ensuring a deliberate and consistent approach to brand building that matches substance with execution. That strategy has paid off: Transcorp Group, which he also chairs, recently posted ₦279.7 billion in revenue and declared a ₦4.064 billion interim dividend.
His branding mindset extends to philanthropy. Through the Tony Elumelu Foundation (TEF), he has empowered over 24,000 African entrepreneurs with more than $100 million in seed capital and trained 2.5 million young people on TEF-Connect, the foundation’s digital platform.
Elumelu’s Africapitalism philosophy also underpins Heirs Holdings’ investments in power, healthcare and financial services — sectors chosen for both profitability and social impact. Transcorp Power alone contributes nearly 1,000 MW to Nigeria’s grid, a vital share of the country’s less than 5,000 MW capacity.
For Elumelu, the lesson for Africa’s business leaders is clear: brand is identity, not just image.
“Your brand is not just what you sell,” he says. “It is who you are.” Read More
