Tony Elumelu: We have empowered female entrepreneurs with over $40m in 54 African countries

Tony Elumelu Tony Elumelu

Tony Tony Elumelu, chairman of the United Bank of Africa (UBA), says his foundation has committed over $40 million to empowering female entrepreneurs in Africa since its inception.

In a message to commemorate International Women’s Day on Monday, Elumelu said women occupy a large percentage of key positions in his foundation, UBA and Heirs Holdings.

The billionaire businessman said he would continue to be a strong advocate for gender inclusion having witnessed the transformative effect of investing in women.

“March is women’s month from International Women’s Day (IWD) to Mother’s Day. I am dedicating the rest of this month to celebrating our women from my mum to my wife, sisters, HH Group female CEOs, directors, and female colleagues, you have all been impactful in my life story and business,” Elumelu said.


“I have been influenced by women all through my life, and always positively.

“I am and will be a strong advocate for inclusion in every area of life. I have witnessed first-hand the impact of investing in, working with, and learning from women.

” We will continue to provide the platform, visibility, and opportunity for female advancement; 50% of our UBA board are women, with 8 remarkable female CEOs steering the ship of Africa’s most formidable financial institution.


“At Heirs Holdings, 40% of our CEOs are women, with 36% representation at the executive management level.

“The Tony Elumelu Foundation, our philanthropic arm, also serves as an expression of our commitment to gender inclusion. Since its inception, we have disbursed USD40 million to support female entrepreneurs across 54 African countries.

“Over 650,000 women have received technical support from TEF, women who are creating jobs – over 150,000 jobs created on the continent, impacting their communities.

“For us, gender inclusion is in our DNA. We believe that together, we can create a future where every individual, regardless of gender, can achieve their full potential and contribute to a more equitable and prosperous world.”


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