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Tag: Tony Elumelu

Business

Regulatory constraints behind banks’ tough lending terms for SMEs — Elumelu

Chairman of UBA Group, Tony Elumelu, has explained why entrepreneurs frequently encounter tough conditions when applying for loans from commercial banks, pointing to increasingly strict regulatory requirements. Speaking at a panel session during the 49th Governing Council meeting of the International Fund for Agricultural Development in Rome, Elumelu said banks are generally willing to lend […]

Energy featured

Energy sector records $1.3bn surge amid Elumelu, Otedola deals

Nigeria’s energy sector recorded transactions valued at $1.3 billion within four days ending December 31, marking one of the most active deal-making periods the industry has witnessed in several years. The flurry of transactions, which took place between December 29 and December 31, featured billionaire investor Tony Elumelu’s Heirs Energies Limited acquiring a significant 20 […]

Business

Elumelu’s Heirs Energies acquires major stake in Seplat Energy

Tony Elumelu’s Heirs Energies has acquired a 20 per cent stake in Seplat Energy in a transaction valued at approximately 500 million dollars, making it the single largest shareholder in the Nigerian energy company. The landmark acquisition was backed by two major African financial institutions, Afreximbank and Africa Finance Corporation, underscoring the growing capacity of […]

Tony Elumelu to give speech at ECOWAS forum
Conferences

Tony Elumelu advocates Africa’s inclusion in global AI revolution

The Chairman of United Bank for Africa PLC and Founder of the Tony Elumelu Foundation, Mr. Tony Elumelu, has strongly advocated for the deliberate inclusion of Africa in the global digital and Artificial Intelligence revolution, stressing that digital inclusion is economic inclusion. Elumelu made this case while speaking in Washington D.C. at a seminar on […]

Banking

Afriland fire: We, others lost colleagues, Tony Elumelu mourns

The Chairman of Afriland Properties Plc, Tony Elumelu, has returned from New York, where he was attending the United Nations General Assembly, after a fire at Afriland Towers in Lagos claimed the lives of several staff members. In a statement on Wednesday, Elumelu described the tragedy as a devastating loss for the Afriland family and […]

News

Elumelu urges Africa to prioritise infrastructure development

Prominent African entrepreneur and philanthropist Tony Elumelu, Group Chairman of Heirs Holdings, has urged African governments and private sector leaders to prioritise resilient infrastructure, human capital development, and green investments to accelerate the continent’s economic growth. Elumelu, who also chairs UBA and Transcorp, made the call during his keynote address at the African Caucus Meeting […]

Tony Elumelu
News

Tony Elumelu pledges N25b to ‘Produce for Lagos’ initiative

The Chairman of Heirs Holdings, Tony Elumelu, has pledged N25 billion to the Produce for Lagos Programme—the largest private sector contribution to the initiative. He made the disclosure on Wednesday at Lagos House, Ikeja, during the launch of the Produce for Lagos Programme and the N500 billion Offtake Guarantee Fund. The programme aims to boost […]

Tony Elumelu appointed to IMF advisory council
Banking

Tony Elumelu acquires additional N43.9bn UBA shares in two days

The Chairman of United Bank for Africa, Tony Elumelu, has purchased shares worth N43.9 billion in the bank over two days. The Group Company Secretary, Bili Odum, revealed the transaction details in a regulatory filing submitted to the Nigerian Exchange Group on Monday. The filing states that the transactions took place between May 29 and […]

News

Power sector reform crucial to $1tn economy – Elumelu

The Chairman of Transcorp Group, Tony Elumelu, has stated that Nigeria’s goal of building a $1 trillion economy cannot be achieved without addressing the pressing issues in the country’s electricity sector. Speaking at the company’s Annual General Meeting in Abuja on wednesday, Elumelu emphasized that reliable power is the most crucial factor in transforming the […]

Tony Elumelu appointed to IMF advisory council
News

Tony Elumelu appointed to IMF advisory council

Founder and Group Chairman of Heirs Holdings, Tony O. Elumelu, CFR, has been appointed by the International Monetary Fund to join its newly established Advisory Council on Entrepreneurship and Growth. The Council is convened by IMF Managing Director Kristalina Georgieva. Elumelu, a passionate advocate for entrepreneurship across Africa, has made significant contributions through his foundation, […]

Tony Elumelu calls for global investment in Africa
Investment

Tony Elumelu calls for global investment in Africa

Nigerian billionaire and business leader Tony Elumelu has emphasized Africa’s unparalleled return on investment, urging global stakeholders to recognize and tap into the continent’s vast economic potential. “There is nowhere else in the world that can match the return on investment that our continent offers,” Elumelu, 61, wrote in a post on X, formerly Twitter, […]

featured

Oil revenue crucial for Nigeria’s growth, diversification, development – Elumelu

The Chairman of Heirs Holdings, Tony Elumelu, has called for increased oil production to support Nigeria’s economic diversification and development. Speaking at the Nigeria Petroleum Industry Leadership Discourse in Abuja, on Thursday, the Heirs Holdings Chairman emphasized that oil revenues are vital for industrialization, energy security, and infrastructure growth. He stressed the need to maximize […]

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