Tony O. Elumelu: Triangle Magazine’s Personality of the Year
Femi Salako
Publisher Triangle News Media
In the dynamic world of business and philanthropy, few names carry as much weight and influence as Tony O. Elumelu. A visionary entrepreneur, a champion of economic empowerment, and an unwavering believer in Africa’s potential, Elumelu has dedicated his life to reshaping the continent’s narrative. His work in finance, investment, and philanthropy has transformed industries, created opportunities, and empowered a new generation of African leaders. It is for these reasons that Triangle Magazine proudly honors Tony O. Elumelu as the Personality of the Year.
Tony Elumelu’s journey is nothing short of inspiring. Born and raised in Nigeria, he quickly rose through the ranks of the banking sector, displaying a keen business acumen and an unparalleled work ethic. His breakthrough came with the acquisition and transformation of Standard Trust Bank into what is now United Bank for Africa (UBA), a leading pan-African financial institution operating in over 20 African countries, as well as in the UK, France, and the United States. Under his leadership, UBA has become synonymous with innovation, excellence, and financial inclusion, making banking accessible to millions across the continent.
Beyond banking, Elumelu is the Founder and Chairman of Heirs Holdings, an investment company committed to driving Africa’s development through strategic investments in financial services, power, oil and gas, healthcare, hospitality, and technology. His bold vision for an economically independent Africa is rooted in his philosophy of Africapitalism—the idea that the private sector must play a pivotal role in the continent’s development by investing in businesses that create social wealth as well as financial returns.
Perhaps Elumelu’s most impactful contribution to Africa’s future is the Tony Elumelu Foundation (TEF), established in 2010. Through its flagship TEF Entrepreneurship Programme, the foundation has committed $100 million to empowering 10,000 entrepreneurs across all 54 African countries. More than just a grant, TEF provides mentorship, business training, and networking opportunities, ensuring that young business owners have the tools needed to succeed.
In a continent where access to capital is a major hurdle for aspiring entrepreneurs, Elumelu’s initiative has provided a lifeline for thousands, helping them turn their ideas into sustainable businesses that create jobs, drive economic growth, and lift communities out of poverty. His work through TEF is more than philanthropy; it is a revolutionary movement that is changing lives and fostering a culture of innovation and self-reliance.
Elumelu’s impact extends far beyond Africa’s borders. His advocacy for economic empowerment has earned him international recognition, including a place on the prestigious TIME 100 Most Influential People in the World list. He has been a keynote speaker at global economic forums, influencing policies and discussions on how best to unlock Africa’s vast potential.
Additionally, his commitment to fostering economic growth has seen him serve on various boards and advisory committees, including the Global Advisory Council of the Harvard Business School, the United Nations Sustainable Energy for All Initiative, and the World Economic Forum’s Regional Agenda Council on Africa. These platforms allow him to continue advocating for policies that support entrepreneurship, investment, and inclusive economic development.
What makes Tony Elumelu truly remarkable is his deep sense of responsibility toward Africa’s future. He is not just an investor or a businessman; he is a mentor, a philanthropist, and a leader who genuinely believes in empowering others. His ability to blend capitalism with a commitment to social good sets him apart in a world where profit often takes precedence over people.
In 2025, Elumelu achieved yet another milestone with the launch of UBA Dubai, expanding Africa’s financial reach into the Middle East and further strengthening trade and investment ties between Africa and the rest of the world. This move, like many others before it, underscores his belief that Africa belongs on the global stage—not as a passive participant but as a formidable force driving innovation and economic growth.
As we celebrate Tony O. Elumelu as Triangle Magazine’s Personality of the Year, we do so with the recognition that his journey is far from over. His impact continues to grow, his vision continues to inspire, and his leadership continues to pave the way for a brighter, more prosperous Africa.
His story is a reminder that true leadership is not just about personal success but about the ability to uplift others. Through his investments, philanthropy, and advocacy, Tony Elumelu has ignited a fire that will burn for generations, ensuring that Africa’s future is one of innovation, prosperity, and limitless potential.
Tony Elumelu is not just a businessman; he is a movement. And for that, we celebrate him today.
