Gabon Honours Tony Elumelu with Highest National Distinction for Transformative Impact on African Development

Libreville, Gabon — In a momentous ceremony held at the presidential palace in Libreville, the President of the Republic of Gabon, His Excellency General Brice Clotaire Oligui Nguema, conferred one of the nation’s most prestigious honours—the Commander in the National Order of Gabonese Merit—on Mr. Tony O. Elumelu, CON, the Group Chairman of United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation (TEF).

This recognition is a testament to Elumelu’s extraordinary contributions to Africa’s economic progress and social empowerment, particularly in the domains of youth entrepreneurship and infrastructure development. It further solidifies his reputation as one of the continent’s most influential business leaders and philanthropists.

A Visionary Leader Recognised

Speaking during the ceremony, President Nguema, who was sworn in just days earlier as the new leader of the oil-rich Central African nation, lauded Elumelu’s commitment to Africa’s inclusive and sustainable development.

“Tony Elumelu is not only a visionary entrepreneur but also a committed friend of our nation, Gabon,” the President said. “Through his Foundation and the UBA Group, he has demonstrated that investing in Africa is not merely good business—it is essential to building a shared future for our continent. Today, we honour a man whose actions continue to empower young Africans and inspire nations to dream bigger.”

This prestigious award comes at a pivotal moment in Gabon’s history, as the country enters a new chapter of leadership and renewal. The new administration has prioritised economic revitalisation, inclusivity, and cross-sector partnerships to drive national development. Recognising Elumelu is symbolic of Gabon’s embrace of pan-African collaboration and the critical role of the private sector in shaping national and regional progress.

Elumelu’s Enduring Commitment to Africa

Elumelu, visibly moved by the honour, expressed his deep appreciation and reaffirmed his commitment to supporting Gabon’s and Africa’s development aspirations.

“I am truly humbled by this honour,” Elumelu said during his acceptance remarks. “This award is not just a personal accolade—it is a reflection of a collective belief that Africa’s destiny lies in the hands of Africans. I believe in the power of entrepreneurship to uplift communities, transform economies, and create a better future for all. Gabon is a nation with tremendous promise, and I am proud that the Tony Elumelu Foundation and UBA Group are playing a part in unlocking that potential.”

He added, “This is more than a medal—it is a symbol of what we can achieve when we work together, across borders and sectors, united by ambition and purpose. At UBA and the Tony Elumelu Foundation, we are committed to building the infrastructure—both physical and human—that Africa needs to thrive.”

A Dual Focus: Infrastructure and Youth Empowerment

Elumelu’s influence in Gabon and across Africa is most deeply felt in two core areas: infrastructure financing and entrepreneurship development.

Through UBA, one of Africa’s leading financial institutions, Elumelu has championed innovative and inclusive financial solutions that support infrastructure growth in emerging economies. In Gabon, this has translated into enhanced support for public and private sector projects, improved access to banking services, and stronger financial connectivity with regional and global markets.

Equally significant is Elumelu’s work through the Tony Elumelu Foundation. Established in 2010, TEF is the leading philanthropy focused on empowering African entrepreneurs. Its flagship programme provides selected entrepreneurs with business training, mentorship, networking opportunities, and non-refundable seed capital of $5,000. To date, the programme has supported over 18,500 entrepreneurs across all 54 African countries—including hundreds of young Gabonese innovators—while building a robust digital ecosystem of over one million users.

This ambitious initiative is part of a decade-long $100 million commitment by Elumelu to catalyse youth-led economic transformation and job creation.

Strengthening Gabon’s Economic and Financial Ties

The award also underscores the strengthening of strategic ties between Gabon and UBA Group. As a pan-African financial services powerhouse operating in 20 African countries and in key global markets—including the UK, France, the UAE, and the United States—UBA is uniquely positioned to facilitate financial inclusion and investment flows across borders.

UBA serves over 35 million customers worldwide, offering a comprehensive range of financial services across retail, corporate, SME, and digital banking. In Gabon, the bank’s presence has been instrumental in supporting local economic development, providing critical financing for businesses, and promoting financial literacy.

A Legacy of Africapitalism

At the core of Elumelu’s work is his economic philosophy of Africapitalism—the belief that Africa’s private sector, particularly entrepreneurs, must play a central role in driving the continent’s economic and social development. This belief not only informs his investment approach through Heirs Holdings, his family-owned investment company, but also guides his philanthropic and thought leadership efforts.

Heirs Holdings is focused on sectors that are vital to Africa’s future, including financial services, power, energy, healthcare, hospitality, and technology. Through its portfolio, the company is creating long-term value while improving lives and strengthening communities.

Elumelu also chairs Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest listed conglomerate, whose subsidiaries include Transcorp Power—one of Nigeria’s top electricity producers—and Transcorp Hotels Plc, a leading hospitality brand.

A Global Influencer with African Roots

Globally recognised for his leadership and advocacy, Tony Elumelu was named among TIME magazine’s 100 Most Influential People in the World in 2020. He is also a recipient of Belgium’s oldest and highest royal honour, further cementing his place as a key figure on the global economic stage.

Yet, at his core, Elumelu remains deeply connected to Africa’s grassroots challenges and opportunities. His work continues to inspire a generation of African entrepreneurs to dream boldly and act decisively.

As Gabon charts a bold new course for its future, the honouring of Tony Elumelu serves as both a recognition of individual excellence and a call to collective action. It is a reminder that with visionary leadership, strategic investment, and a commitment to empowering others, Africa’s future is bright.