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Tony Elumelu: Celebrating a Catalyst at 59

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By Eric Elezuo
On March 22, 2022, an enigma celebrated another year of positive impact on the earth. He is Tony Onyemachi Elumelu, the influential name associated with the great United Bank for Africa, and Heirs Holdings Limited. Here is a man who will never cease to create firsts. That is what he was created to do, and has never disappointed. As such, his accolades resonate across the globe.
Vintage Tony Elumelu is the Chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. A Nigerian national honours holder, the Commander of the Order of Nigeria (CON), and Member of the Order of the Federal Republic (MFR). It is worth noting that Tony has successfully held various editions of his annual Tony Elumelu Foundation Entrepreneurial Forum with not less than 54 African countries participating each time.
Adding another glorious feather to his retinue of feathers, Elumelu and his team of dedicated achievers, also operate new group insurance companies, namely Heirs Insurance and Heirs Life.
In faraway Belgium on November 15, 2020, the man many referred to as chairman of chairmen was conferred with Belgium’s oldest and most important national honour titled: “The honorary distinction of Officer in the Order of Leopold.”

The award is said to be in recognition of his commitment to the eradication of poverty and the economic empowerment of young Africans.

“…the Kingdom of Belgium conferred on me with the honorary distinction of Officer in the Order of Leopold, the country’s oldest and most important National Honour.

“I am humbled by this recognition of the work @TonyElumeluFDN in catalysing entrepreneurs across Africa and will continue to drive the economic empowerment of our brilliant young #Africanentrepreneurs to propel development in Africa,” the distinguished entrepreneur had reported.

Born Tony Onyemaechi Elumelu on March 22, 1963, in Jos, Nigeria, the economist by training, visionary entrepreneur and philanthropist, acquired and turned Standard Trust Bank into a top-five player in Nigeria. In 2005, his corporate reputation as an African business leader was sealed when he led the largest merger in the banking sector in Sub-Saharan Africa to acquire United Bank for Africa (UBA). In five years, he transformed it from a single-country bank to a pan-African institution with over seven million customers in nineteen African countries.
In 2011, New African magazine listed him as one of the 100 most influential people in Africa, and a year later (2012), he was recognised as one of “Africa’s 20 Most Powerful People” by Forbes Magazine.
Following his retirement from UBA in 2010, Elumelu founded Heirs Holdings, which invests in the financial services, energy, real estate and hospitality, agribusiness, and healthcare sectors. In the same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic organisation dedicated to the promotion of excellence in business leadership and entrepreneurship, and to enhancing the competitiveness of the private sector across Africa.
His stated objective at the formation of Tony Elumelu Foundation was to “prove that the African private sector can itself be the primary generator of economic development.” The Foundation is charged with the mission of driving Africa’s economic development by enhancing the competitiveness of the African private sector. As a premier pan-African-focused not-for-profit institution, the Tony Elumelu Foundation is dedicated to the promotion and celebration of entrepreneurship and excellence in business leadership across the continent, with initiatives like The Tony Elumelu Entrepreneurship Programme (TEEP)
In a bid to expand his conglomerate as well as his business horizon, in 2011, through Heirs Holdings, he acquired a controlling interest in the Transnational Corporation of Nigeria Plc (Transcorp), a publicly quoted conglomerate that has business interests in the agribusiness, energy, and hospitality sectors. Elumelu was subsequently appointed chairman of the corporation.
His enterprise is not limited to self financed enterprises as he serves as an advisor to the USAID’s Private Capital Group for Africa (PCGA) Partners Forum. He also sits on the Nigerian President’s Agricultural Transformation Implementation Council (ATIC). He is also vice-chairman of the National Competitiveness Council of Nigeria (NCCN) whose formation he was a key driver in, and serves as Co-Chair of the Aspen Institute Dialogue Series on Global Food Security.
Elumelu additionally chairs the Ministerial Committee to establish world-class hospitals and diagnostic centres across Nigeria, at the invitation of the Federal Government and the Presidential Jobs Board, engineered to create 3 million jobs in one year. He also 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.
One will not be wrong to address him as a philosopher as well as he is the originator of the term Africapitalism. According to him, Africapitalism is an economic philosophy that embodies the private sector’s commitment to the economic transformation of Africa through long-term investments that create both economic prosperity and social wealth. Elumelu sees Africans taking charge of the value-adding sectors and ensuring that those value-added processes happen in Africa, not through nationalisation or government policies, but because there is a generation of private sector entrepreneurs who have the vision, the tools and the opportunity to shape the destiny of the continent. He insists that Africapitalism is not capitalism with an African twist; it is a rallying cry for empowering the private sector to drive Africa’s economic and social growth.
Having studied under Professor Porter at Harvard Business School, Elumelu subscribes to Michael Porter’s concept of Creating Shared Value (CSV). Professor Porter is the Founding Patron of The Tony Elumelu Foundation. In the same vein, CSV refers to the idea that “companies must take the lead in bringing business and society back together.” It asserts that “businesses acting as businesses, not as charitable donors, are the most powerful force for addressing the pressing issues (society) face(s).”

Tony Elumelu, Chairman, Heirs Holding

In 2003, the Federal Government of Nigeria granted Tony Elumelu the title of Member of the Order of the Federal Republic (MFR), a national honour, and in 2006, he was voted African Business Leader of The Year by the Africa Investor magazine and was also recognised as  African Banker of the Year in 2008 by the African Banker magazine. In 2009, the Nigerian President Umaru Musa Yar’adua honoured him with a place on the Presidential Committee on the Global Financial Crisis.
In 2012, he was awarded the prestigious National Honour of Commander of the Order of the Niger (CON) for his service in promoting private enterprise. Apart from being recognised as one of “Africa’s 20 Most Powerful People in 2012” by Forbes Magazine as well as being featured in the New African Magazine’s list of the “100 Most Influential Africans in Business”. He was awarded an honorary Doctorate of Science degree from the Benue State University and an honorary Doctorate of Business Administration from the University of Nigeria, Nsukka.
In 2013, Elumelu received the Leadership Award in Business and Philanthropy from the Africa-America Institute (AAI) Awards. He was also named African Business Icon at the 2013 African Business Awards.

Dele Momodu with Tony Elumelu

In addition, ESI-Africa, frequently described as “Africa’s power journal”, named Elumelu in its 2015 ‘ESI Most Influential Figures in African Power’ list, in January 2015.
Elumelu is not just a financial wizard; he also writes as well as provides incredible inspiration to writers. Some works that involves him include:
How to Excel at Work – Proven strategies for achieving superior work performance by Bili A. Odum -a book inspired by Elumelu’s work ethics.
Elumelu has contributed to the Nigeria Leadership Initiative White Papers, writing on Leveraging private sector approaches in transforming government delivery.
The Power of Vision: Insights on Tony Elumelu is a testimonial compiled on the occasion of his retirement as Group Managing Director/Chief Executive Officer at the United Bank for Africa. It contains messages from Aliko Dangote, former Nigerian President Olusegun Obasanjo, Professor Michael Porter, former World Bank managing director and Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala, President of Sierra Leone; Ernest Bai Koroma, former United States Comptroller of the Currency, Eugene Ludwig and Sanusi Lamido Sanusi, former Governor of the Central Bank of Nigeria.

Tony Elumelu, Chairman

He has written about his philosophy and the economic development of Africa for several publications around the world including The Economist, the Wall Street Journal and Financial Times.
The TOE Way: A handbook that offers insights into Elumelu’s philosophies, business practices, values and secrets of success, written by the man himself.
Tony Elumelu is happily married to Awele Vivian Elumelu, who he married in 1993, and they are blessed with five wonderful girls; Nneka, Ugo, Ogor, Oge and Onyinye.
It will not be worthwhile to end this article without stating the humble philanthropist’s one of most important quotes:
“Everything I have today is because of Africa, I was born here, went to school here, I work here and I’m achieving some level of financial comfort here.”
Sir, for your steadfastness in business and transformation of lives as well as unleashing the Midas magic to anything you are involved in or touched, you deserve once again to be our Boss of the Week.
Congratulations sir and happy 59th birthday!

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Boss Of The Week

Tella Giresse: Accomplished Multi-Dimensional Diplomat, Entrepreneur

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By Eric Elezuo

A Beninese by origin, serving as a high-profile diplomat for Hungary in Abidjan, Cote d’Ivoire, Mr. Justin Tella Giresse, is highly multi-dimensional, overtly talented and a distinguished entrepreneur par excellence. His trend of experience, impact and developmental strides in the fields of diplomacy as well as business, is highly recommended and sought after among comity of nations and entrepreneurship.

Known for his ability to thoroughly coordinate international relations, especially as concerning nations, Giresse is also an excellent industrialist, whose acumen led the founding of the Benin-registered computer security, private security, defence and software development company, Impact Palmares R&D, established in 2019 as an LLC, and subsequently became an SAS in 2021. He presently heads the organization, and has been heading it for several years.

He is an expert in the security and safety of administrative documents.

He is also the founder and Chief Executive Officer of Résidences Appartements, with offices in many countries of the world. Giresse is in a short, the darling of African diplomacy and entrepreneurship. His high flying grace in production capacity, and jaw jaw has remained a reference point in world politics and business.

In addition as a multidimensional professional, Giresse was not long ago handed over a letter to assume duties as the new Hungarian Honorary Consul, serving in Abidjan, Cote d’Ivoire. It is worthy of note that the CEO of ANY Security Printing Company, Gábor Zsámboki also participated at the official event of handing over the letter of commission to the distinguished diplomat.

Also present to confirm the topnotch status of Giresse was the Hungarian Ambassador, András Szabó at his introductory visit with Prime Minister of Ivory Coast Amadou Gon Coulibaly. The Ambassador appreciated the close relationship between the two countries while Zsámboki praised Giresse Tella’s activities performed up to now in the field of development of business relations between Hungary and Ivory Coast and expressed his hope that these relations would become even closer in the future through the new consulship.

During his visit in Ivory Coast, Mr. Gábor Zsámboki, CEO met Mr. Claude Isaac DE, Minister of Construction, and also a number of high-ranking state leaders who, in addition to a cordial welcome, showed great interest to several successful Hungarian products and solutions.

Also making his impact felt in the field of entrepreneurship and development of human capacity through industrialisation, Giresse had led a team to the commissioning of partnership his Impact Palmarès and a state-owned printing organisation.

Impact Palmarès R&D SAS, with MINREX, is involved in the construction of biometric visa issuance infrastructure at the international airports in Yaoundé and Douala.

The perfect service Giresse provides allowed for a 10-year contract with the Cameroonian government, including setting up an online portal dedicated to the application, processing and issuance of electronic visas.

In addition, state-of-the-art biometric equipment is also installed in Cameroon’s diplomatic missions and consular posts for printing biometric visas on secure stickers.

A detailed presentation of the event as captured by Palmarès, is represented below:

“At the national printing house, the lines are moving. The modernization initiated in 2023 is reaching a new level. The state organization is about to conclude a partnership agreement with the company Impact Palmarès R&D.

“A delegation led by its chairman and CEO, the Beninese Giresse Tella, was received in audience by the Minister of Communication (Mincom), René Emmanuel Sadi, in the presence of the Director General of the national printing house, Pierre Nolasque Oyono Bika.

“Opportunity for the partner to present its offers, in view of the electoral deadlines that await the country in 2025. Under the supervision of the Mincom, the National Printing Office will play “a major role for 2025. It must be able to equip itself in order to meet the challenges that await it”, will emphasize René Emmanuel Sadi. L.

“Indeed, the National Printing Office needs this new lease of life in view of current and future requests.

“This group proposes to offer us a partnership in terms of technical assistance with a view to the digitalization of the Printing Office. The opportunities are in the direction of strengthening the production tool of the National Printing Office, but also the construction of a security production unit,” will say Pierre Nolasque Oyona Bika.

“According to the DG, the partnership between these two sub-Saharan African countries will help the State to strengthen its sovereignty, protect the identity of citizens, preserve the integrity of businesses and replenish the State coffers.

“On the partner’s side, we are therefore, serene. “We are here to assist the State of Cameroon to explore new revenue niches,” Giresse will assure Tella . There are therefore many construction sites.

“The operator presented the main areas of its support to the Minister. “The most important thing is the modernization of the National Printing Office’s production tool, the strengthening of capacities in terms of materials and human resources, the optimization of the organization and a certain number of investments that aim to rehabilitate, or even build infrastructures that will strengthen its efficiency,” Nassirou will specify.

“Mbow, Project Director at Impact Palmarès.

“Impact Palmarès R&D specializes in areas such as securing, identifying, recording and analyzing data in the context of state security; the security and internal safety of states; securing, electronic archiving and traceability of state documents, among others. It is also this company that had already signed a partnership in 2022 with the Ministry of Foreign Affairs for the implementation of the e-visa. Impact Palmarès works with the Hungarian company Any Security Printing Company, which ensures the modernization aspect of its projects.

With his rising profile in managerial abilities, His Excellency, Tella Giresse, was on August 2, 2021 CEO of a simplified joint-stock company headquartered in Abidjan, Cocody Riviera GOLF, Rue du Lycée Hôtelier, with a capital of 500,000,000 CFA francs (16,000 shares with a par value of 25,000 CFA francs), and Sêdé Alida Inès Gwladys GNIGLA, his wife, was appointed Managing Director.

Giresse Tella is also the promoter of the company LES MYRIADES in Benin. In Cameroon, with Impact Palmarès R&D SAS, many are waiting to see the perfect and smooth implementation of its contractual commitments.

Beyond his dutiful and painstaking attention to professional endeavours and wholesome details, Giresse is a complete family man, who has mastered the skills of balancing the home front and duty. He loves his family like the gentleman he is, and goes to any length to defend and provide for them.

He is the complete definition and symbol of what any country needs in diplomacy and (industrial) development. His achievements looms large.

ABOUT IMPACT PALMARÈS R&D 

Impact Palmarès R&D SAS is a company specializing in the security, identification, recording, and analysis of data and information for national security and internal safety.

Its activities include the security, identification, recording, and analysis of data and information for national security. It is also active in national security and internal safety; research and development; information protection; and signature protection and authentication.

The company Impact Palmarès R&D SAS is also active in the acquisition, rental and sale of all movable and immovable property, the management lease of all businesses and the acquisition of stakes in companies.

Tella Justin Giresse is simply an international personality, with the capability to fix it all; diplomacy or business.

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Boss Of The Week

Aliko Dangote: Celebrating An Industrial Giant at 68

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By Eric Elezuo

A lot has happened in the life of African richest man, Aliko Dangote, since he celebrated his 67th birthday just about a year ago. One of such is the revolutionary trend in the petroleum industry following the kick off of production in his audacious refinery in Lagos. At 68 today, Dangote has become a greater force, maximizing respect for not just a job done, but a job perfectly done.

Consequently, accolades from personalities across the nation, including President Bola Tinubu, Femi Otedola and a host of others have continued to surge towards the President, Dangote Group, a man of immense entrepreneurial and industrial expertise, as he hit another glorious age, celebrating 68 in grand style.

To President Tinubu, Dangote is “Africa’s industrial icon,” whose unwavering commitment to nation-building must be praised.

“Aliko Dangote’s life embodies hard work, generosity, and faith in Nigeria’s potential. His willingness to invest in people and nation-building reflects profound business ingenuity and love for humanity,” Tinubu noted.

Otedola described him simply as one whose ‘journey is inspiring’, while heavyweight boxing champion, Anthony Joshua, joined in the euphoria of conviviality, which describes the personality of the rich but simple Dangote.

In fact, the cakes that were presented to celebrate his birthday are all testaments of the accomplished entrepreneur’s strides in the past years.

Organisations such as GTBank, Access Bank, and FCMB each presented custom-made birthday cakes inspired by the legendary business achievements of the celebrant. One of the cakes was a towering depiction of a refinery, another was styled like a grand mosque, while yet another was designed in the shape of a cement factory.

The billionaire businessman has consistently proved that his entrepreneurial skills are not just geared towards uplifting him as a person, but to creating an enabling environment for the Nigeria youth and child to grow and develop in an environment he can proudly co-own. His vision, no doubt, is practically for the greater good of the world in general, and Nigeria in particular.

For so many blessed reasons and very many more, Dangote was named, and for the second consecutive year in 2024, the Africa’s foremost entrepreneur and humanist, and was honoured with a Lifetime Achievement Award.

The billionaire industrialist was accorded special recognition by the Organised Private Sector (OPS) employers in the country under the aegis of Nigeria Employers’ Consultative Association (NECA). That was just a tip of the iceberg in consideration to the avalanche of efforts he has put into business, and the lives touched so far.

Born in Kano in 1957, Dangote proudly shuttles between three wonderful tags as the richest man in Nigeria; the richest man in Africa and the richest Black man in the world. He has paid his dues, and mankind is the better for it.

Releasing impacts, Aliko Dangote Foundation (ADF), the private charitable foundation of Alhaji Aliko Dangote. Incorporated in 1994, as Dangote Foundation, is saddled with the mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities. 20 years later, the Foundation has become the largest private Foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

The primary focus of ADF is child nutrition, with wraparound interventions centered on health, education and empowerment, and disaster relief. The Foundation also supports stand-alone projects with the potential for significant social impact.

The Foundation works with state and national governments and many highly reputable international and domestic charities, non-governmental organizations and international agencies to advance its humanitarian agenda.

In one of its biggest collaboration to date, Aliko Dangote Foundation started working in partnership with the Bill and Melinda Gates Foundation and key northern State Governments in Nigeria from 2013 to eradicate polio and strengthen routine immunization in Nigeria.

Worthy of praise is the fact that nearly a decade, the Foundation has spent over N7 Billion in the course of feeding, clothing and the general welfare of the Internally Displaced Persons in the Northeast.

To make his host communities feel at ease, and the impact of his presence, Dangote has embarked on an initiative to provide further support to improving educational systems in Ibeju-Lekki and Epe locality. The educational support initiative is a tripartite programme consisting of scholarship, capacity building for teachers and school infrastructure projects.

In addition, Scholarships have been awarded to 52 secondary school students whilst some financial support was provided to their parents and/or guardians. Tertiary students will be included in the next batch of the scheme.

Furthermore, about 100 teachers, principals and school administrators were trained in teaching techniques for the 21st century. After which they were monitored in class on how they were using the skills acquired.

There is hardly any sector that has not felt the milk of human kindness running through Aliko Dangote; the military, media, politicians, governments across boards and more.

Dangote is surely an asset to this world!

As at today, there is no space for slowing down for Dangote as he continues to trudge on, creating firsts after first for himself and for humanity.

He is blessed with three wonderful daughters, who have followed the rewarding footprints of entrepreneurship.

Congratulations are in order for the African giant, and may he continue enjoy many more laurels as his footprints remain indelible in the sands of time.

Sir, continue to dominate the pages of history books with your impactful strides and results!

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Boss Of The Week

Olufemi Oladipo Adelowo: Fresh Honours for West Africa’s First Rheumatologist

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By Eric Elezuo

In recognition of his efforts, and desire to continue to affect humanity, and leave a lasting impact, West Africa’s first Rheumatologist, Dr. Olufemi Oladipo Adelowo, has once again been honoured with yet another feather on his cap of accomplishments.

Prof Adelowo’s latest feat is his emergence as the winner of the Hall of Labour Foundation (HLF) Role Model Award, an award dedicated to professionals, whose impact in perpetrating their craft has rubbed off on humanity on a positive basis.

According to the organizers, in a letter signed by its Executive Secretary, Patricia Otuedon-Arawore, Prof Adelowo’s award is predicated on his established track of outstanding contributions in the field of medicine.

The letter further noted that “this has set him apart as a great Nigerian role model”.

Adelowo will be crowned with his honours at the 28th anniversary celebration of the Foundation scheduled for May 28, 2025 at the Oriental Hotel, in Victoria Island, Lagos.

The medical expert is not new to awards and honours, however, as he has constantly amassed recognition every step of the as a result of his timeless researches, innovations and discoveries.

It would be recalled that not too long ago, The Ogbomoso Pivotal Club, a group of astute professionals, academics and entrepreneurs, celebrated the first Rheumatologist in West Africa, in addition to calling  on the Federal Government to recognise Prof. Adelowo with National Honour for making the country proud.

Prof. Adelowo was recognised for his exceptional contributions to the field of Rheumatology with the prestigious APLAR Master Award, conferred by the Asia Pacific League of Associations for Rheumatology (APLAR), making him the first African to be so bestowed.

A distinguished Ogbomoso-born scholar,  Adelowo received the award fro APLAR in recognition of his remarkable contributions to rheumatology, particularly in teaching, research, and professional service within the APLAR region.

Adelowo is a medical expert of repute, described as a Professor of Medicine, Consultant Physician, and Rheumatologist. He has held numerous academic and leadership roles both locally and internationally.

He served as the President of the African League of Associations for Rheumatology (AFLAR) from 2014 to 2019 and as chairman of the Executive Committee of the International League of Associations for Rheumatology (ILAR) from 2015 to 2016.

Throughout his career, Prof. Adelowo has made a significant impact in Nigeria and beyond, establishing rheumatology clinics at the University of Ilorin Teaching Hospital, Olabisi Onabanjo University Teaching Hospital, Lagos State University Teaching Hospital (LASUTH), and University of Lagos Teaching Hospital (LUTH). He has supervised over 30 FMCP and FWACP dissertations and trained more than 55 rheumatologists in Nigeria, three of whom are now Professors. Additionally, over 25 of his trainees are consultant rheumatologists in Nigerian teaching and specialist hospitals, while 15 others practise in the USA, Canada, the UK, and Kenya.

The Ogbomoso Pivotal Club, had also at a special event in Lagos, honour and presented Prof Adelowo with a special award in recognition of his achievements and as an inspiration for younger generations to follow in his footsteps.

Describing the Professor at the event, President of the Club, Joel Owoade, said Adelowo was an exemplary leader whose dedication, commitment, and hard work have made him a model for others.

“Professor Adelowo is a shining light, and we are proud to be associated with him. We will continue to celebrate him and others who are making Ogbomoso and Nigeria proud in their careers and service to both the nation and the international community,” Owoade said.

Adelowo’s career path is captured as follows:

Bachelor of Medicine, Bachelor of Surgery, University Ibadan, Nigeria, 1973

FMCP, Nigerian Postgrad. Medical College, 1982

Fellowship of the West African College of Physicians, W. African Postgrad. Medical Coll, 1993

Senior house officer UCH, Idaban, Nigeria, 1975-1978, senior registrar Nigeria, 1979-1982

Honorary registrar St. Bartholomew Hospital, London, 1980-1982

Senior lecturer, consultant physician U.I.T.H., Nigeria, 1983-1985

Medical director Adeola Specialist Hospital, Nigeria, 1985-1992

Professor medicine, consultant Ogun State University, Nigeria, since 1992

Chairman Post Graduate Medical College Board of Rheumatology

Examiner Nigerian Post Graduate Medical College, West African College of Physicians.

Prof Adelowo is presently a Consultant with the Lagos State University Teaching Hospital and Arthrimed Specialist Clinic, Ikeja, and he qualifies by scholarship to be addressed as follows: MD, FMCP, FWACP FRCP Edin FRCP (Lond) FAMedS MACR MAPLAR.

The Prof specialises in many foelds of medicine including Rheumatology Osteoarthritis, Arthritis, Rheumatoid Arthritis, Scleroderma, Systemic Lupus Erythematosus, and Autoimmune Disease. He also has 115 Publications, 21,100 RReads as well as 2,144 Citations.

Apart from being a renowned professional, he is also a distinguished family man, and is blessed with children.

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