Founder and Chairman of Heirs Holdings, Mr. Tony Elumelu has made the list of Time 100, the most influential people in the world 2020.
Elumelu is one of the three Nigerians on the annual list of the list of Time 100, alongside Tomi Adeyemi and Tunji Funsho.
Elumelu is one of the Africa’s leading investors and philanthropists.
The list, now in its seventeenth year, recognizes the activism, innovation, and achievement of the world’s most influential individuals.
Mr. Elumelu, who is one of only four Africans on the 2020 list, is recognized for his track record of business turnaround and value creation, and economic empowerment of young Africans.
Tony Elumelu is the Founder and Chairman of Heirs Holdings, 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 and healthcare.
He is also, the Chairman of United Bank for Africa (UBA), which operates in 20 countries in Africa, the United Kingdom, France, and is the only African bank with a commercial deposit taking license in the United States.
The bank provides corporate, commercial, Small and Medium scale Enterprises (SME) and consumer banking services to more than 21 million customers globally.
Elumelu also chairs, Transcorp, whose subsidiaries include Transcorp Power, one of the leading generators of electricity in Nigeria and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand.
Mr. Elumelu is the most prominent champion of entrepreneurship in Africa. In 2010, he created the Tony Elumelu Foundation (TEF), the philanthropy empowering a new generation of African entrepreneurs, catalyzing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries.
Since inception, the Foundation has funded just under 10,000 entrepreneurs and created a digital ecosystem of over one million as part of its ten year, $100 million commitment through the TEF Entrepreneurship Programme.
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Self-funded, the Foundation is increasingly sharing its unique ability to identify, train, mentor and fund young entrepreneurs across Africa, with institutions such as the UNDP, the ICRC and leading European development agencies.
Heirs Holdings, which serves as a corporate role model for African businesses, and the Tony Elumelu Foundation will both celebrate 10 years of impact in November. Their mission continues to be inspired by Mr. Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.
