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LFrom Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has showered praise on business magnate and philanthropist Tony Elumelu for revolutionising youth entrepreneurship across Africa, crediting his Tony Elumelu Foundation with training 2.5 million young Africans in 54 countries and providing seed capital to over 24,000 budding entrepreneurs.
In a heartfelt State House birthday message issued by Special Adviser on Information and Strategy, Bayo Onanuga ahead of Elumelu’s March 22 celebration, the President spotlighted the foundation’s flagship entrepreneurship programme as a beacon of hope for Africa’s youth.
The President commended Elumelu’s “resilience, the excellence that governs his entire enterprise and his staunch belief in Africapitalism.” He especially highlighted the Tony Elumelu Foundation’s entrepreneurship programme, which “has so far trained 2.5 million young Africans in 54 countries and empowered over 24,000 budding African entrepreneurs with non-refundable seed capital of $5,000 each.”
“As an avid believer in investing in the youth,” the statement emphasized, President Tinubu praised these efforts as transformative for the continent.
Elumelu, who turns a year wiser tomorrow, chairs Heirs Holdings, United Bank for Africa (UBA), and Transcorp. President Tinubu described him as “an African business icon and a standout advocate of the Nigerian and African enterprise,” commending his “resilience, the excellence that governs his entire enterprise and his staunch belief in Africapitalism.”
The statement said: “As Elumelu celebrates this special occasion, the President joins his family and friends to wish him good health and strength and continued success in his pursuits.”
The Tony Elumelu Foundation, launched in 2014, has become a cornerstone of Africa’s entrepreneurial ecosystem. Its programme not only offers training in business skills, mentorship, and market access but also injects vital non-refundable funding—totaling over $120 million—to help young innovators turn ideas into sustainable ventures. Participants hail from every African nation, fostering pan-continental networks that drive job creation and economic growth amid the continent’s youth bulge.
