Mr. Tony O. Elumelu is one of Africa’s leading investors and philanthropists. In 2010, he created The Tony Elumelu Foundation, which has committed $100m in a 10-year programme to fund, mentor and train 10,000 African entrepreneurs, inspired by Tony’s economic philosophy of Africapitalism, which positions the private sector as the key enabler of economic and social wealth creation in Africa.
He 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, technology and healthcare.
Tony is also the Chairman of pan-African financial services group, the United Bank for Africa (UBA), which operates in 20 countries across Africa, the United Kingdom, France, the UAE, and is the only African bank with a commercial deposit taking presence in the United States.
He also chairs Nigeria’s largest quoted conglomerate, Transcorp, whose subsidiaries include Transcorp Power, one of the leading producers of electricity in Nigeria and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand. He is the Founder and Chairman of Heirs Oil & Gas, an upstream oil and gas company, whose assets include Nigerian oil block OML17, with a current production capacity of 50,000 barrels of oil equivalent per day and 2P reserves of 1.2 billion barrels of oil equivalent, with an additional 1 billion barrels of oil equivalent resources of further exploration potential. Heirs Oil & Gas is committed to creating resource-based added value on the African continent.