Tag "Tony Elumelu"

    VIDEO: COVID-19 turns Tony Elumelu to son’s barber

VIDEO: COVID-19 turns Tony Elumelu to son’s barber

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    The day before tomorrow

The day before tomorrow

There are many things that make you sad, even angry, about Nigeria. Recently, the Abuja Municipal Area Council (AMAC) asked SMEs to pay N120,000 each for “compulsory fumigation” before they would be allowed to re-open after the COVID-19 lockdown. Look at it again: these businesses had not operated for months, had probably sacked thousands of workers, and are in dire [...]

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    Oramah: Africa now epicentre of COVID-19 disruption, AfCFTA is the answer

Oramah: Africa now epicentre of COVID-19 disruption, AfCFTA is the answer

Benedict Oramah, president of the African Export-Import Bank (Afreximbank), says the African continental free trade agreement (AfCFTA) has the potential to guide the continent's economy through the challenges caused by the COVID-19 pandemic. Speaking on Monday during a virtual panellist session organised by the United Bank for Africa (UBA) to celebrate Africa Day, Oramah said Africa has become the epicentre of [...]

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    Tony Elumelu only Nigerian on 2020 Ebony Power 100 list

Tony Elumelu only Nigerian on 2020 Ebony Power 100 list

Tony Elumelu, chairman of the United Bank for Africa (UBA) Plc, is the only Nigerian on the 2020 Ebony Power 100 list. The list, released last Wednesday, is produced by Ebony magazine, a monthly American publication which focuses on black people in America, Africa and the world. The 2020 Ebony Power 100 list recognises the most influential and inspiring individuals who are making a [...]

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    New president appointed in Transcorp Group shake-up

New president appointed in Transcorp Group shake-up

Transnational Corporation of Nigeria Plc (Transcorp), a diversified investment company, has announced five major appointments on its board and executive management team. Clari Green, the company's marketing and corporate communications head, announced this in a statement on Tuesday. According to the statement, Owen Omogiafo (pictured), the current MD of Transcorp Hotels Plc, has been appointed as president of Transcorp with effect from [...]

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    We’re looking to expand our business, says Coca-Cola CEO during visit to Nigeria

We’re looking to expand our business, says Coca-Cola CEO during visit to Nigeria

James Quincey, the global chief executive officer of Coca-Cola, says his company is looking to expand its business in Nigeria and other African countries as these countries have been identified as its future growth drivers. During a recent visit to Nigeria with his extended leadership team, Quincey said Africa presents a vast opportunity in driving the beverage company’s growth strategy over [...]

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    US consulate to support Tony Elumelu Foundation with $105,000 grant

US consulate to support Tony Elumelu Foundation with $105,000 grant

The US consulate general in Lagos has announced a partnership to support the Tony Elumelu Foundation (TEF) entrepreneurship programme with a $105,000 grant. Speaking in Lagos on Thursday, Claire Pierangelo, US consul general, said the partnership defines the consulate's mutual commitment to promoting entrepreneurship as a key driver of job growth, economic prosperity and political stability in Nigeria. She said 20 fellows [...]

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    Transcorp fulfills privatisation conditions, receives discharge certificate

Transcorp fulfills privatisation conditions, receives discharge certificate

Transcorp Hotels have been presented a certificate of discharge by the National Council on Privatisation after fulfilling all the conditions attached to the sale of the hotel. Vice President Yemi Osinbajo, who chairs the council, presented the certificate to Tony Elumelu, the chairman of Transnational Corporation of Nigeria Plc (Transcorp), the core investor in the hotel. Speaking at the event, Alex Okoh, Bureau [...]

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    Elumelu to Japanese government: Empowering entrepreneurs is the best way to develop Africa

Elumelu to Japanese government: Empowering entrepreneurs is the best way to develop Africa

Tony Elumelu, chairman of Heirs Holding and United Bank for Africa (UBA), says the best way to ensure sustainable development in Africa is by investing in its entrepreneurs. Speaking at the ongoing Tokyo International Conference on African Development (TICAD) in Yokohama, Japan, Elumelu urged the Japanese government to invest 5% of its $50 billion commitment to Africa in entrepreneurs. "At TICAD 2016 [...]

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    As the stage gets bigger for Tony Elumelu Foundation Entrepreneurship Forum

As the stage gets bigger for Tony Elumelu Foundation Entrepreneurship Forum

The stage is getting bigger for the Tony Elumelu Foundation Entrepreneurship Forum; and so are the multiplicity of roles it is inadvertently assuming, and rising expectations. Having five African Presidents, over 60 global speakers from the public and private sectors across three continents together is a large private sector platform for empowerment and generation of ideas. At the two-day forum, which held [...]

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    Elumelu joins Trump’s adviser in Bahrain for launch of US growth strategy for Middle East

Elumelu joins Trump’s adviser in Bahrain for launch of US growth strategy for Middle East

Tony Elumelu, chairman and founder of Heirs Holdings, was among the leaders who spoke at the peace to prosperity workshop which held in Bahrain, on Wednesday. Jared Kushner, an aide of US President Donald Trump, and Christine Lagarde, managing director of the International Monetary Fund (IMF), were among the dignitaries at the event where Elumuelu recommended practical steps to unlock economic prosperity [...]

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    Elumelu ‘to add’ 1,400MW to national grid with $2.5bn investment in power

Elumelu ‘to add’ 1,400MW to national grid with $2.5bn investment in power

Plans to increase Nigeria’s national grid by 700 megawatts (MW), may be taking shape as Tony Elumelu, chairman of Transcorp Nigeria Plc, has pledged to invest as much as $2.5 billion in power projects across the country. According to Bloomberg, Elumelu revealed that investments in the power sector will be made through Transcorp Power Ltd, a subsidiary company. Although a time [...]

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    Elumelu: Access to electricity is critical to economic growth

Elumelu: Access to electricity is critical to economic growth

Tony Elumelu, chairman of Heirs Holdings, says access to electricity is critical to growing Nigeria's economy. Speaking in an interview with Sky news, Elumelu said he believes that the second term of President Muhammadu Buhari will focus on improving the power sector. He added that another sector that is critical to the economy is the private sector which helps in creating employment [...]

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    Ghana does not borrow to burden itself, says Akufo-Addo

Ghana does not borrow to burden itself, says Akufo-Addo

Ghanaian President Nana Akufo-Addo says his country only take loans to create assets that can pay back the loan -- not to burden itself with unserviceable debts. Speaking at the Tony Elumelu Foundation (TEF) entrepreneurship forum on Thursday, Akufo-Addo said his country does not borrow to fund inflated contracts nor ill-conceived contracts. He said borrowing money is not aid, and what President [...]

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    UBA appoints new non-executive board members

UBA appoints new non-executive board members

The United Bank for Africa has appointed four new non-executive board members, subject to the approval of the Central Bank of Nigeria (CBN). The new board members are Erelu Angela Adebayo, Angela Aneke, Abdulqadir Jeli Bello and Isaac Olukayode Fasola. According to a statement released on Friday by the bank, the new board members were appointed to replace Rose Okwechime, Adekunle Olumide, [...]

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    Buhari: Elumelu’s mother is an inspiration to many

Buhari: Elumelu’s mother is an inspiration to many

President Muhammadu Buhari has felicitated with Suzanne Elumelu (pictured third from right), the matriarch of the Elumelu family, on her 90th birthday. In a statement on Friday, Buhari said by succeeding against all odds as a widow, the nonagenarian has continued to be an inspiration to many. He also commended her on her advocacy for education and investment skills for women in [...]

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