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Time 100: Dangote Praises Elumelu for innovation, Empowering Africa Youth

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Following the naming of Tony O. Elumelu, by TIME as one of Africa’s leading investors and philanthropists, in the 2020 TIME100 annual list of the 100 most influential people in the world, Africa’s richest man Aliko Dangote has heaped praises on the icon Elumelu, for his innovation and work to empower millions of African youth among other attributes.

According to Dangote, a mere handshake says a lot about Tony Elumelu, as his gritty grip underlines a charming, tenacious personality: and a man who hardly backs down from any challenge.

Dangote notes that the same engaging qualities have propelled him from a modest beginning in Nigeria to becoming chair of the United Bank of Africa, and one of the most innovative and ambitious business leaders of his generation.

“He is a leading proponent of “Africapitalism,” a belief that Africa’s private sector can and must play a leading role in the continent’s development through long-term investments, as well as entrepreneurship and regional connectivity.,” Dangote the president of Dangote Industries Ltd, said.

“After deepening the financial market in Africa, he has found an equally important niche: giving a voice of hope to millions of youths across Africa. Tony has harnessed Africa’s youth bulge to catalyze development and protect the future, committing to investing $5,000 each in 1,000 young entrepreneurs per year across 54 countries in Africa. Having come so far, Tony still forges on, striking a fine balance between personal satisfaction and societal impact.”

The TIME 100 list, now in its seventeenth year, recognises the activism, innovation, and achievement of the world’s most influential individuals. Elumelu, who is one of only four Africans on the 2020 list, is recognised for his track record of business turnaround and value creation, and economic empowerment of young Africans.

Tony Elumelu is the Founder and Chairman of Heirs Holdings, his family owned investment company, committed to improving lives and transforming Africa, through long-term investments in strategic sectors of the African economy, including financial services, hospitality, power, energy and healthcare.

He is the Chairman of top pan-African financial services group, the United Bank for Africa (UBA), which  operates in 20 countries in Africa, the United Kingdom, France, and is the only African bank with a commercial deposit taking licence in the United States.

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