President of Dangote Industries Limited, Alhaji Aliko Dangote, has described the Chairman of UBA Group, Tony Elumelu, as a most ambitious and innovative businessman.
Dangote said this in a tribute he wrote on Elumelu on the occasion of the latter’s recent inclusion on the 2020 TIME 100 list of most influential people for the year.
According to Dangote, “a mere handshake says a lot about Elumelu. His gritty grip underlines his charming, tenacious personality: a man who hardly backs down from any challenge. 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.”
The richest man in Africa continued, “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.
“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.”
Dangote also commended Elumelu on his Foundation, the Tony Elumelu Foundation, which seeks to harness and support entrepreneurship among African youths, saying, ” 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.”