Mr. Tony Elumelu CFR

Tony O. Elumelu, CFR, is a renowned Nigerian economist, investor, and philanthropist, widely recognized for his contributions to Africa’s private sector and his advocacy for entrepreneurship-driven development. He is the Chairman of Heirs Holdings, Transcorp Group, and United Bank for Africa (UBA), a pan-African financial institution with operations in over 20 countries. Through his strategic leadership and vision, Elumelu has built a legacy rooted in transforming businesses into institutions that create long-term value across Africa’s energy, financial services, real estate, and hospitality sectors.

Elumelu began his career in banking, where he rose rapidly through the ranks to become one of Nigeria’s youngest bank CEOs at the age of 34, when he led the turnaround of Standard Trust Bank. Following its merger with UBA in 2005, he guided the new entity to become one of Africa’s most recognized financial institutions. Today, his business interests under Heirs Holdings reflect a pan-African investment philosophy grounded in inclusive capitalism, empowering local talent, and strengthening Africa’s economic resilience through indigenous enterprise.

Beyond business, Tony Elumelu is deeply committed to empowering young entrepreneurs across the continent. In 2010, he established the Tony Elumelu Foundation (TEF), Africa’s leading philanthropic initiative supporting entrepreneurship, which has funded, trained, and mentored over 15,000 young Africans. Through his investments, philanthropy, and thought leadership, he continues to champion the belief that the private sector holds the key to unlocking Africa’s potential and driving sustainable, inclusive prosperity.