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Tag: Tony Elumelu

Tony Elumelu made $123 million in 3 Weeks

Nigeria’s business magnate and former UBA CEO, Tony Elumelu, made $123 million in three weeks between November 1 and November 21 2013, as shares of Transcorp Plc surged by 186 percent within that period. According to a report by Forbes Africa, the chairman of Heirs Holdings, who is the largest individual shareholder in Transnational Corporation […]

We Will Transform Ten Million Lives in Ten Years – Elumelu

Nigeria’s business mogul, investor, and philanthropist, Tony Elumelu, recently spoke at the Clinton Global Initiative on the objectives of the Tony Elumelu Foundation and its peculiar interest in engineering growth among SMEs in the African continent. According to Elumelu, economic development in Africa can be achieved by channeling resources into Small and Medium-sized Enterprises (SMEs). […]

Tony Elumelu Awarded ‘African Business Icon’

  The Chairman of Heirs Holdings, Mr. Tony Elumelu, has been awarded as the winner of the African Business Icon Award by African Business Magazine, a United Kingdom based publication. The awards, which was held 20th September at the Mandarin Oriental, New York, is in its sixth year and is aimed at celebrating exemplary achievements […]

Transcorp Hilton Hotel Comes To Lagos

Transcorp Hilton Hotel, popular in Abuja and managed by Hilton Group and Transcorp Plc. has announced it will open an hotel, in Lagos. At a management contract between Transcorp Plc and Hilton Group in Lagos, the organizations, it was disclosed that the facility will be a full service 350-room hotel to be located on Glover […]

UBA Appoints New Executives, Announces Project Alpha

United Bank for Africa Plc (UBA), has appointed new executives and announced the launch of Project Alpha – which the bank says is the new focus of its strategic transformation. According to the Bank, “Project Alpha is a 3 year route map of key transformation initiatives, designed to consolidate the Group’s strategic positioning and fully […]

The Tony Elumelu Foundation To Support More Tech Startups In Nigeria

With a mission to assist technology start-ups in solving more local problems, The Tony Elumelu Foundation (TEF) is upgrading its commitment for Seed Funding to Tech Startups in Nigeria through the ccHub. The Founder, Tony Elumelu said, “the foundation will increase the number of annual grants made available to start-ups who develop local content applications, which […]

Aliko Dangote, Tony Elumelu, Others Speak at LBS Africa Business Conference

Lagos Business School will hold the inaugural edition of Africa Business Conference on May 31, 2013. The conference, organised by the MBA students of the School, aims to bridge the gap between emerging and entrenched business leaders, and successful and emerging businesses through a robust information exchange platform, in order to create a thriving future […]

Tony Elumelu: In Africa, the Best ‘Charity’ is Aid for Business

The traditional approach to solving Africa’s problems through aid has created a cycle of dependency. A better approach is to use donor subsidies to fund private, for-profit ventures. Those ventures create systemic and sustainable change in the community. The traditional approach to solving Africa’s problems has been to rely on charity and aid – free money, more […]

The 3 Key Ingredients for Sustaining Africa’s Growth

Here is an article by renowned businessman Tony Elumelu, which appeared as a guest post on the Financial Times’ beyondBRICs website . In it, he outlines three main requirements for creating and sustaining economic growth in Africa. Enjoy this insightful piece. Africa’s growth continues to make headlines at home and abroad. But while the continent has made […]

Transcorp, Bid Winner for Ughelli Power Plant, Signs With BPE to Take Over

The official signing ceremony for the winning bidders of the privatization of the Power Holding Company of Nigeria (PHCN), was held yesterday at the Presidential Villa in Abuja. The ceremony, hosted by the Bureau for Public Enterprises (BPE) and presided over by Minister of Power Professor Chinedu Nebo, had representatives from the five generating and 10 […]

Going Strong Into 2013, Heirs Holdings Reviews a Year of Achievements

The senior management of Heirs Holdings, the African proprietary investment company chaired by Tony Elumelu, C.O.N., convened at the Transcorp Hilton, Abuja this month to review 2012, which saw the company’s portfolio record impressive growth, and to chart 2013 objectives within its core strategy of driving one of Africa’s leading value-creating enterprises. Heirs Holdings operates […]

Dangote And Elumelu Nominated For Forbes Africa Person Of The Year.

Forbes Magazine, popular for its listing of world’s richest people, has revealed nominees for this year’s Forbes Africa Person of the Year. Nigerian Billionaire Aliko Dangote and Investor Tony Elumelu are Nigerians on the list. Others are Dr. James Mwangi – CEO and Managing Director of Kenya’s Equity Bank Limited, Joyce Banda – Malawian President […]