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The Group Chairman of United Bank for Africa (UBA), Tony Elumelu, has been conferred with the 2025 Appeal of Conscience Award in New York, by the Appeal of Conscience Foundation founded by Rabbi Arthur Schneier and immediately vowed to empower more young African innovators and entrepreneurs.
“Tony Elumelu stands as a beacon of ethical entrepreneurship and visionary leadership… Business can be a powerful force for peace, stability, and human dignity. His commitment to uplifting others is a living example of conscience in action.” said Rabbi Arthur Schneier, Founder of Appeal of Conscience Foundation.
The award was received on his behalf by his wife, Dr Awele Elumelu, who delivered Mr. Elumelu’s speech at the ceremony held on September 29th in New York.
Mr. Elumelu began his speech by noting that it was a privilege to be associated with the legacy represented by the Appeal of Conscience Foundation and Rabbi Arthur Schneier, while also using a moment of silence to remember the loss of those that died in a recent tragic fire incident at Afriland Towers in Lagos.
“They were family, friends, mothers, sons, and daughters, hardworking individuals, who were dedicated to building a better Africa. Their absence leaves a void that cannot be filled. Across our Group, we are grieving this deep loss. And so tonight, before all else, I wish to honour their memories with a moment of silence. May the souls of the departed rest in peace. Amen,” Elumelu said.
Mr. Elumelu noted that he was not born with a silver spoon, neither was he educated abroad nor inherited anything, but only blessed with determination and luck, which have helped to bring material success.
That success can be seen in a business that spans four continents; which employs over 40,000 people – including in New York – where the United Bank for Africa (UBA), is the only African bank that can take deposits in the United States of America.
Mr. Elumelu said the American tradition of philanthropy had always inspired him, especially the great names that built America in the Gilded Age and the new generation that have endowed universities, research and culture.
“I was conscious right from the beginning that we needed to give back. And to give back in a way that catalytically changes our continent, Africa. I am not one to blame others. I also – and my career demonstrates this – know that Africa is full of opportunity. In fact, I think no other continent offers such an opportunity. I believe in the power of the private sector. This is the core of the philosophy I call Africapitalism,” Elumelu said.
“I know the private sector’s long-term interests are inextricably linked to the health of our communities. At Heirs Holdings, when we invest in energy and power, we see it as a mission to light up homes, schools, and hospitals.”
The giving back is seen through the Tony Elumelu Foundation, a personal commitment made in 2010, that has identified, trained, mentored, and provided over USD100million in seed funding to over 24,000 young African entrepreneurs from all 54 African countries.
By empowering a generation with economic opportunities and the means to shape their own destinies are combat, the Tony Elumelu Foundation is combatting the despair that fuels economic instability, migration, and insecurity.
Elumelu however agreed that there is more to be done.
“Thus, the Appeal of Conscience Foundation award not only strengthens my resolve to do more, to deepen our impact, but it is a call out for collaboration with those who share similar values. The Appeal of Conscience Foundation demonstrates wonderfully that collaboration, that appeals to our common humanity. And this is ever more important in a complicated, divided world,” Elumelu said.
“I dedicate this award to the thousands of Africapitalists across the African continent who relentlessly create the Africa we envision; the young entrepreneurs, innovators, and my colleagues across Heirs Holdings Group who are working tirelessly, often against great odds, to create a better future, to improve lives and transform Africa.”
The Appeal of Conscience Gala Chair, Brian Moynihan, and CEO of Bank of America said the Appeal of Conscience Foundation (ACF) chose to honor Tony Elumelu and another Award Recipient, Cardinal Timothy Dolan, Archbishop of New York, because they personify the moral leadership and global responsibility that ACF stands for.
“Their works in faith, community, and economic empowerment remind us that progress and conscience go hand in hand,” Moynihan said.
In 1965 Rabbi Arthur Schneier created an innovative idea to establish a vibrant international coalition of interfaith business, religious and foreign policy leaders to uphold the principle “live and let live” and address issues pertaining to human rights, religious freedom, and mutual understanding in former Communist countries.
Within the year, he engaged the early leadership of those who had a passion for world peace, civil and human rights: Honorable Francis E. Dorn, member of the 83rd United States Congress, Thurston Davis, SJ, Editor of America House; Dr. David H.C. Read, Minister of Madison Avenue Presbyterian Church and Dr. Harold Bosley, Senior Minister of Christ Methodist Church.
Over the next half a century, the Foundation’s efforts expanded throughout the globe. Today in a world rampant with bias, hatred and division, the work of the Appeal of Conscience Foundation is more vital than ever as the leadership is bound by a shared destiny to heal our wounded world.
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