brand
Harvard Business School Launches Tony Elumelu Foundation Case Study
Caption 1: The Founder, Tony Elumelu Foundation and Group Chairman, UBA, Mr. Tony O. Elumelu: Faculty member and Professor of Business Administration, Harvard Business School(HBS), Professor Paul Gompers, flanked by students of the HBS during the introduction of Tony Elumelu Foundation Case Study as part of Harvard’s Curriculum in Boston, Massachusetts on Thursday.
![]()
Two men in suits standing in front of a chalkboard
…Spotlights Role of African Philanthropy in Transforming the Development Agenda in Africa
The Founder, Tony Elumelu Foundation and Group Chairman, UBA, Mr. Tony O. Elumelu and Faculty member and Professor of Business Administration, Harvard Business School(HBS), Professor Paul Gompers, during the introduction of Tony Elumelu Foundation Case Study as part of Harvard’s Curriculum in Boston, Massachusetts on Thursday.
At a time of renewed geopolitical interest in Africa, and an increasing questioning of traditional development finance models, Harvard Business School today released a case study examining the role and impact of the Tony Elumelu Foundation (TEF), and its unique approach to catalysing entrepreneurship in Africa.
The Foundation, Africa’s leading funder of young entrepreneurs, has pioneered an innovative approach to seeding, capacitising and networking young entrepreneurs across Africa. Drawing directly from Tony Elumelu’s entrepreneurial journey, his acknowledgement that luck and chance played an important role in his success, the Foundation democratises luck, spreads opportunity, in a sector agnostic approach, and has developed a bespoke infrastructure that reaches every country in Africa. The Foundation is a direct expression of Elumelu’s philosophy of Africapitalism, that the private sector must play a pivotal role in Africa’s development, and that investment must seek social, as well as economic returns.
The case study, the first of its kind focused on African philanthropy, was launched today, Thursday, February 29, 2024, before a class of graduate students at Harvard Business School and explored the Foundation’s unique approaches and transformative initiatives, showcasing how the strategic philanthropy offered by TEF, is driving positive change and elevating countries and communities.
The case study recognises challenges the Foundation faces, and its responses, as it developed its mission, since founding in 2010. The track record is impressive, with over 20,000 entrepreneurs funded, over a million connected digitally and the development of an impact assessment capacity. TEF has disbursed over USD$100 million, reaching every African country. The Foundation is increasingly developing a partnership-based approach, working with institutions such as the EU, US agencies, the UNDP, the ICRC, the Ikea Foundation, and others to develop bespoke programmes focused on fragile states, female entrepreneurs and sustainability initiatives.
Tony Elumelu, who spoke at Harvard said, “TEF is creating economic hope and opportunity for African entrepreneurs. We know that entrepreneurship is the solution to youth unemployment and insecurity. Through the intervention of the Foundation, we are transforming our young people, giving them hope. Collectively, all of us can resolve the challenges that we have on the continent.
It is wonderful to have had the opportunity to work with HBS, to spotlight our successes, acknowledge the challenges that we have at times faced, and provide the opportunity to spread our experience, for the benefit of others.”
The Harvard Business School session provided an opportunity to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economies. As the world grapples with complex challenges around demographics, climate and sustainability, the Tony Elumelu Foundation model offers a fascinating model of how strategic philanthropy can be a driving force for positive change.
brand
GTCO Food and Drink Festival 2026 Presents “Everything Food and Drink”
![]()
Guaranty Trust Holding Company Plc (GTCO Plc) is pleased to announce the 9th edition of the GTCO Food and Drink Festival, scheduled to hold from Friday, May 1st to Sunday, May 3rd, 2026, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.Geographic Reference
This year’s theme, “Everything Food and Drink,” captures the expansive nature of the Festival experience. It reflects not only the variety of cuisines on display but also the depth of stories behind them. Over the years, the GTCO Food and Drink Festival has grown far beyond a seasonal celebration to become a culturally significant platform where food and drink serve as a meeting point for storytelling, innovation, and opportunity. The Festival will feature 204 free retail stalls, showcasing the rich diversity and creativity of our food culture; from time-honoured traditional dishes preserved across generations, to bold contemporary interpretations of global cuisine, creating space for every flavour, every technique, and every craving to find expression.
Visitors can expect a rich programme featuring interactive masterclasses, live culinary demonstrations, food and wine tastings, and a vibrant marketplace showcasing small and medium-scale food businesses alongside established culinary brands. In addition to its wide range of food and drink offerings, the GTCO Food and Drink Festival is renowned for its family-friendly atmosphere, with a well-equipped play area and a variety of engaging activities for children, ensuring an unforgettable experience for the whole family.
Speaking ahead of the 2026 edition, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, emphasized the Festival’s continued evolution as both a cultural and economic enabler: “The GTCO Food and Drink Festival has, over the years, become a living expression of what we stand for as an institution: innovation, opportunity, and enterprise that is accessible to all. What makes this platform special is not just its scale, but its humanity. It brings together people from different walks of life around something universal—food and drink—and in doing so, it breaks barriers and builds connections that extend far beyond the event itself.”
Since inception, the GTCO Food and Drink Festival has positioned itself as one of Africa’s most prominent culinary gatherings, attracting participation from across Nigeria and increasingly from the wider continent and diaspora.
Admission remains free and open to all, reaffirming the Festival’s commitment to accessibility as a consumer-focused event that brings people together through food, drink, culture, and enterprise.
For more information on the event, please visit: https://foodanddrink.gtcoplc.com
brand
Fidelity Bank Partners Aircraft Finance Germany to Grow African Aviation Industry
![]()
Leading financial institution, Fidelity Bank Plc, has announced the signing of a strategic partnership agreement with Aircraft Finance Germany (AFG) to advance the aviation sector in Nigeria and across Africa by both organisations.
The agreement was formally executed by Mr. Christian Hatje, Managing Director, Business Aviation and SVP Commercial, representing AFG; and Mr. Stanley Amuchie, Executive Director and Chief Operations and Information Officer of Fidelity Bank Plc at a signing ceremony in Germany recently.
Speaking at the signing ceremony, Mr. Christian Hatje stated, “This partnership marks a significant milestone in our commitment to Africa’s aviation future. Partnering with Fidelity Bank, Nigeria’s leading aviation financier, we are confident in our ability to structure solutions that will drive meaningful growth across the sector.”
Through this partnership, both institutions will work closely to identify, finance, and grow aviation opportunities across the continent. The collaboration aims to provide innovative leasing and financing solutions that support airlines, aviation operators, and related stakeholders in expanding capacity, modernizing fleets, and strengthening operational and fleet efficiency.
“Fidelity Bank remains dedicated to supporting the aviation industry through tailored financial solutions. Our collaboration with AFG strengthens our capacity to provide sustainable financing that will contribute to the expansion of aviation in Nigeria and across Africa,” explained Mr. Stanley Amuchie.
This partnership reflects a shared vision to foster long-term development, stimulate investment, and create sustainable opportunities within the African aviation industry.
Nigeria remains a strategic hub for aviation development in Africa. By combining AFG’s leasing expertise with Fidelity Bank’s deep sector knowledge and financial strength, the partnership is positioned to unlock new growth pathways and enhance the sustainability of the aviation ecosystem.
This collaboration in Africa forms part of AFG’s broader global portfolio expansion strategy, reflecting the company’s continued commitment to structured aviation investments across multiple international markets.
Fidelity Bank is regarded as a market-leader in the Nigerian aviation industry with a long list of interventions across the value chain. Its aviation finance solutions support aircraft acquisition and leasing, route expansion, aviation infrastructure development, cargo and export enablement; and partnership structures for large projects.
brand
GTCO Plc Releases 2025 Full Year Audited Result …Declares Another Record Dividend of 12.76k;
![]()
Re-affirming Unrivalled Capacity to Creating Value₦ Lagos, London – 31st March 2026Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).The Group reported profit before tax of 1.23trillion underpinned by strong growth in core earnings, with interest₦ income and fee income increasing y-o-y by 23.2% and 25.9%, respectively. The performance reaffirms its capacity to generate sustainable earnings and builds on the momentum from 2024, when GTCO delivered a record profit of 1.27trillion, driven in part by 517.5billion in fair value gains, which did not recur in 2025.₦ ₦The Group’s 2025 profit after tax came in at 865.75billion against 1.02trillion recorded in 2024. The profit after tax₦ ₦ reflects the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments. However, when normalised for this effect, underlying earnings remain robust, driven by growth in core operating income. The Group continues to maintain a well-structured, healthy, and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals. Total assets and shareholders’ funds closed at 1₦ 7.8trillion and 3.₦ 4trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 43.8%, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.4% and 5.0% at Bank and Group level in FY-2025 (Bank, 3.5%, and Group, 5.2% in December 2024). Cost of Risk (COR) also improved to 2.2% from 4.9% in December 2024. In specific terms, the Group’s loan book (net) grew by 12.4% from 2.79trillion as of December 2024 to₦ 3.13trillion in December 2025. Similarly, deposit liabilities grew by 23.8% from 10.40trillion to 12.87trillion during₦ ₦ ₦ the same period.Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses. The strength of our underlying earnings, despite a stronger Naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns. Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential. Looking ahead, we remain focused on scaling our ecosystem, driving innovation across our financial services platform, and delivering consistent, high-quality earnings that support superior value creation for our shareholders.”Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Post-Tax Return on Equity (ROAE) of 28.3%, Post-Tax Return on Assets (ROAA) of 5.3%, Capital Adequacy Ratio (CAR) of 43.8% and Cost to Income Ratio of 27.9%.Guaranty Trust Holding Company Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. GTCO Plc is committed to delivering long-term value to stakeholders while driving growth and development across its markets.
-
news6 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle6 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
health5 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle5 years agoObateru: Celebrating a Quintessential PR Man at 60
-
health6 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
health6 years agoBREAKING: Nigeria confirms 663 new cases of COVID-19
-
entertainment1 year agoAshny Set for Valentine Special and new Album ‘ Femme Fatale’
-
news11 months agoBREAKING: Tinubu swears in new NNPCL Board