African of the Week, Tony Elumelu
African of the Week – Tony Elumelu
African Leadership magazine profiles African economist, entrepreneur, and philanthropist, Tony Onyemaechi Elumelu as our African of the Week. Elumelu is the Chairman of Heirs Holdings, United Bank for Africa, Transcorp, and founder of the Tony Elumelu Foundation. He is known for his Africapitalist business models and philanthropy. He is a seasoned economist, with a long-standing history in the Nigerian banking industry. During his early career in 2005, he acquired Nigeria’s Standard Trust Bank and afterwards, the United Bank for Africa (UBA), completing one of the biggest mergers in the history of Nigeria’s capital markets. Elumelu retired as Group Managing Director and CEO of UBA in 2010 following the introduction of ten-year tenure limits for bank CEOs by the Central Bank of Nigeria’s (CBN);
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