President of the Republic of Gabon, General Brice Nguema, has conferred one of the nation’s highest honours, the Commander in the National Order of Gabonese Merit, on Mr. Tony Elumelu, Group Chairman of United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation.
The prestigious award, presented at the presidential palace in Libreville on Monday, recognises Elumelu’s decades-long contribution to Africa’s economic transformation, with a particular focus on youth entrepreneurship, infrastructure development, and sustainable finance across the continent.
President Nguema, who was sworn in just days earlier, described Elumelu as “not only a visionary entrepreneur but also a committed friend of our nation, Gabon.”
“Through his Foundation and the UBA Group, he has consistently shown that investing in Africa is not just good business — it is the key to our shared future,” Nguema said. “Today, we honour a man whose actions continue to empower young Africans and inspire nations.”
Elumelu, who has made several high-level engagements in Gabon in recent months, accepted the honour with humility, reaffirming his dedication to Gabon’s growth agenda and to Africa’s collective advancement.
“I am truly humbled by this honour,” Elumelu said. “It is a reflection not just of my personal journey, but of a shared belief — that African-led solutions, African entrepreneurs, and African institutions will shape the future of this continent. Gabon holds enormous potential, and I am proud that the Tony Elumelu Foundation and UBA Group can play a role in unlocking it.”
“This is more than a medal — it is a reminder of what we can achieve together as Africans,” he added. “At UBA and the Tony Elumelu Foundation, we remain committed to building bridges, not just between nations, but between ambition and opportunity.” The recognition comes at a pivotal moment for Gabon, as the country focuses on inclusive economic recovery under new leadership. Elumelu’s partnership with Gabon centres on two critical pillars: infrastructure financing, seen as a driver for long-term economic stability; and youth entrepreneurship, driven by the Tony Elumelu Foundation’s flagship programme, which annually supports young Gabonese and African entrepreneurs with training, mentorship, and non-refundable seed capital of $5,000.
The award also signifies a deepening financial relationship between Gabon and UBA, a pan-African financial powerhouse with operations in 20 African countries, as well as international branches in the UK, France, UAE, and the U.S.
Elumelu is also the Founder and Chairman of Heirs Holdings, a family-owned investment company dedicated to improving lives and transforming Africa through strategic investments in power, energy, technology, hospitality, financial services, and healthcare.
He chairs Transcorp Group, which owns one of Nigeria’s largest power generation companies and its most prominent hospitality brand.
Widely celebrated for his pioneering advocacy of “Africapitalism”, the belief that Africa’s private sector, particularly its entrepreneurs, must lead in driving social and economic development, Elumelu has catalysed a generation of changemakers through the Tony Elumelu Foundation. Since 2010, the Foundation has supported over 18,500 entrepreneurs and built a digital community of more than one million Africans as part of a $100 million commitment to transforming the continent.