Tony Elumelu: A Colossus Clocks 60
Pan-Africanists don’t leave the game. It’s who they are. The world greets Anthony Onyemaechi Elumelu, Chairman, United Bank for Africa Plc, Transcorp Plc and Heir Holdings a Nigeria-born Pan-Africanist as he clocks 60 years.
In a deliberate effort to add value to Africa continent, TOE, as he is fondly called chairs three corporate behemoths in Nigeria with subsidiaries across the continent.
An untiring global capitalist, and deal maker – sources inside UBA said he is a fantastic teacher, call him a mentor. TOE is everything good to majority of people who comes to his light to shine.
The tripartite chairman has embellished his name in the annals of top Africa strategists, industrialists; investors and of course a philanthropist with a deep pocket and a large heart.
After taking United Bank for Africa to an enviable level, Delta-born Broadstreet strategist took the back seat and watch one of the largest lenders in Nigeria grow to become a financial behemoth of all time.
Elumelu, a fantastic deal maker is currently the chairman of Heirs Holdings, Transcorp and United Bank for Africa Plc. Apparently, both nature and nurture had adequately prepared him for the task of Pan-Africanism.
It was TOE’s dexterity, and his professionalism that makes the world trust his judgment in addition to his Midas touch on businesses that carried him to his fame and fortune – At 60, it appears the game is just starting.
This sixty years old industrialist with endemic love for Africa believes in getting things done – no fuss, no excuses.
Apart from his heavy interest in UBA, Elumelu has gone a mile ahead with Transcorp and an investment vehicle –Heirs Holdings. His eyes on the Power and energy industry have added a feather to his cap.
His recent exploits include his company Heirs Holdings’ acquisition of a 45% stake in operating mining lease (OML) 17 onshore oilfield by Heirs Oil and Gas (HHOG). A well-rounded capitalist who knows how to send money messages.
Elumelu pulled the oil show with $1.1 billion! A strategic acquisition he called a high-quality asset, with significant potential for further growth. Though his skin is ingrained in capitalism, he’s a go-to person for large numbers of Africa’s youth seeking seed capital through his UBA foundation.
For now, the red-tie wearing banking guru and philanthropist is one of the cleanest billionaires Nigeria has around. On July 1st, 2021 SPDC completed the handover of operatorship of OML 17 asset to HHOG, and sources said the operation has been without accident, demonstrating competence.
Earlier in May of the same year, HHOG took over NAG plant construction project which had been under construction for a decade. On Nov 2021, HHOG achieved the first gas from the plant having completed all mechanical requirements.
Despite his busy schedule, TOE ensures he gets things done, ramping up deals and still finding time to be a humanitarian and startup funder.
Tony believes in creating value through investment and, in embarking on such a journey, he looked to the example of Warren Buffett.
“I decided, okay, it’s time to build a holding company that will monitor our investments in companies we’ve invested in. What we do here at Heirs is slightly patterned after Berkshire Hathaway.
“Buffett is a very astute and serial investor. I like his business sense. When it’s time to give back to society he’ll give, but time for business is business; they are two different things.”
His passionate commitment to proving African private sector can be the primary driver and beneficiary of Africa’s economic transformation is evident in the numerous honours, and board and committee appointments he has.
“Talents I don’t have, I don’t regret; I surround myself with people who have them,” Tony, the tripartite Chairman once said.