brand
The Time is Now to Invest in Africa and African SMEs, Tony Elumelu Tells Global Investors in Paris
A person in a suit and tieDescription automatically generated
Tony O. Elumelu, CON, Founder, Tony Elumelu Foundation and Chairman, United Bank for Africa (UBA) with Bruno Le Maire, French Minister of Economy and Finance at the Invest for Growth in Africa Conference in France on October 30, 2019
Wednesday, October 30, 2019, Paris, France. Tony O. Elumelu, Founder of the Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa (UBA) and Heirs Holdings opened the “Ambition Africa” conference organised by the France Invest Africa Club in Paris, France.
As Elumelu delivered the opening address, he urged French investors to look to Africa for long term investment opportunities.
The French Minister of Economy and Finance, Bruno Le Maire, as he introduced Tony Elumelu to the audience stated that France could position itself and direct investment towards Africa to end the cycle of poverty and to accelerate development globally. He commended Elumelu’s stance on strengthening the SMEs in Africa to catalyse development. “We share the same ambition in Supporting African SMEs and entrepreneurs as this is essential for the economic development of Africa,” he said, referring to Elumelu’s passion to create wealth on the African continent.
Reiterating the stance to partner with Africa on long-term investments, Mr. Le Maire said “We will ensure that investments in Africa are sustainable, exemplary and environmentally friendly. We want to go fast, go quickly in the race against poverty and renunciation, throughout the continent”.
Tony Elumelu on his part stated “We need to do much better and be much smarter in channelling funds to emerging markets. These markets present huge opportunities – as well as risks for investors, but investors need to fulfil a critical need to catalyse and improve the economy. We salute companies like Total, Bouygues, Accor, Orange, and Bolloré as well as others who have accepted this challenge, but there is room for many more” he said.
Elumelu stressed the importance of private equity inflow into Africa, with a focus on investing in small and medium scale businesses, the lifeblood of the African economy. He stated that Africa has the youngest workforce in the world, with over 60% of its population below the age of 25. This he said was a potential demographic doom that could be turned around to become the continent’s greatest asset if the youths have jobs and economic opportunities.
According to him: “Africans do not need aid. Rather, our young people need investments’.
“Private equity is a force for positive development in Africa. We have a large youth population, who are eager and innovative. They are looking at solutions to problems in their communities but are hampered by the access to capital and investment, mentoring and training. When done right, this kind of investment can bring not just capital but can also strengthen job creation, corporate governance and help improve sustainable business practices”.
He cited the impact and growth rate of the beneficiaries of the Tony Elumelu Foundation as evidence of the potential of SMEs in Africa today. His Foundation has endowed $100 million dollars of his family wealth, to fund over 10000 African entrepreneurs in ten years.
Mr. Elumelu commended The French President, Emmanuel Macron’s initiatives for strengthening the relationship between France and Africa and concluded by inviting investors to consider investing in Africa for the long term.
“The key phrase here is long term investment – no one should come to Africa for short term gain. The time is now to invest in Africa. Private equity has to be part of it. We need it for all,” he concluded.
brand
Access Bank Appoints Mr. Innocent Ike As Substantive GMD/CEO, Recognises Contributions Of Ms Bolaji Agbede As Acting CEO
Access Holdings (‘Access Holdco’ or ‘the Company’) today announces the appointment of Mr. Innocent Ike as the substantive Group Managing Director/Chief Executive Officer of the Company, effective August 29, 2025, following the receipt of regulatory approval.
brand
ZENITH BANK MARKS 35 YEARS ANNIVERSARY IN GRAND STYLE, RECOGNISES PIONEER CUSTOMERS AND LONG-SERVING STAFF
L-R: Representative of the Nigerian First Lady and Secretary to the Lagos State Government, Barr. Bimbola Salu-Hundeyin; Chief of Staff to Ekiti State Governor, Mr. Adeniyi Adebayo; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Wife of the Founder & Chairman of Zenith Bank Plc, Mrs. Kay Ovia; Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR; Governor of Borno State, Prof. Babagana Zulum; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Deputy Governor of Osun State, Prince Kola Adewusi; Chairman of Access Holding Plc, Mr. Aigboje Aig-Imoukhuede, CFR; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; and the Publisher of Thisday Newspaper, Prince Nduka Obaigbena at the Zenith Bank 35th Anniversary and Chairman’s Dinner held at Eko Hotel & Suites, Victoria Island, Lagos, at the weekend.
Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th year anniversary with a commemorative Chairman’s Dinner at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos on Friday, August 15, 2025. In recognition of their immense contributions to the success of the brand, the bank also presented commemorative awards and plaques to pioneer customers and long-serving staff, who have served meritoriously for 25 years and above. The ceremony brought together key stakeholders of the bank including customers, staff (past and present), regulators, partners, and friends, who all came together to celebrate 35 years of excellent and innovative banking services that has propelled the banking giant to the peak of Nigeria’s financial industry. Among the eminent personalities who graced the occasion were the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Governor of Taraba State, Dr. Agbu Kefas; Governor of Borno State, Prof. Babagana Zulum; Governor of Delta, Rt. Hon. Sheriff Oborevwori, who was ably represented by the Deputy Governor, Sir. Monday Onyeme; Alhaji Aliko Dangote, GCON; and former governors Peter Obi and Udom Emmanuel (also an alumnus of Zenith Bank).In her welcome address, the Group Managing Director/ Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON applauded the Founder and Chairman, Jim Ovia, CFR for his foundational role in building the structures for what has today become a shining example of excellence in the Nigerian banking industry and a globally recognised financial institution. She described him as “the Godfather of modern banking and the Nostradamus of our time, who through sheer tenacity, foresight, and uncompromising integrity transformed a modest vision into the financial powerhouse we celebrate today”.In his goodwill message, the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON, a proud alumnus of the bank, praised the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR for being at the heart of the very successful brand that today stands as Nigeria’s largest bank by Tier-One capital. According to him, “Long before technology became the bloodstream of global finance, Jim Ovia had already woven it into the DNA of Nigerian banking industry. He introduced innovation not as a fashion but as a philosophy, placing Zenith Bank on a path where excellence is not an ambition but a standard. Yet his true signature is not only on the balance sheet. For Jim Ovia, the people make an institution. His greatest investment has been in human capital – in transferring his experience and sense of adventure to generation after generation of bankers and investors forged at Zenith Bank”.
Also speaking at the event, the Founder and Chairman of Zenith Bank, Jim Ovia, CFR expressed its immense appreciation to all guests for joining the bank in celebrating this momentous occasion. He thanked the bank’s esteemed customers and shareholders for their trust, confidence and shared vision; the regulators, for their guidance over the years; his friends and partners, for being a constant source of strength; the Zenith Bank family led by the exceptional Group Managing Diector/CEO, Dame Dr. Adaora Umeoji, OON, for their loyalty and commitment; and his beloved wife and family for their love and support.Founded in May 1990, Zenith Bank has grown from humble beginnings into one of Africa’s leading financial institutions with branches across the 36 states of the federation and the FCT, Abuja as well as subsidiaries in the United Kingdom, Ghana, Sierra Leone, Gambia, France, UAE and a representative office in China.
FirstBank, the West African premier financial institution and financial inclusion services provider, has emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, held recently in London. This marks FirstBank’s second consecutive win in the ESG category, affirming its leadership in sustainable finance and responsible banking across Nigeria.
The Euromoney Awards for Excellence are regarded as one of the most coveted accolades in the global financial industry. The highly competitive selection process involves rigorous analysis and assessment, measuring performance against strategic and impact-oriented criteria.
The Bank earned the award through its deepened sustainability commitments embedded across its operations and community initiatives. In 2024, FirstBank screened 237 transactions worth over ₦3 trillion for sustainability risks, integrating ESG considerations into its credit framework.
Among its flagship sustainability initiatives, FirstBank commenced a tree planting campaign in partnership with Nigeria Conservation Foundation (NCF), planting over 30,000 trees in 16 locations across Nigeria. This was the first phase of its 50,000-tree initiative, projected to absorb approximately 720 tonnes of CO₂ by the end of 2025, contributing to climate resilience and supporting biodiversity preservation.
FirstBank has been proactive in gender inclusion through the Gender Market Strategy, disbursing over ₦43 billion FirstGem loans to women-led businesses in 2024. The Bank’s commitment to inclusive banking saw a significant increase in the worth of transactions facilitated by FirstMonie agents to over ₦9 trillion.
The Bank prioritises ESG/sustainability capacity building, evidenced by the training of over 9000 employees, and its webinars and workshops reaching over 2,000 SMEs and corporates. The bank’s investment in leadership for over 2,000 female employees through the FirstBank Women Network has demonstrated a dedicated structural commitment to cultivating a knowledgeable and diverse workforce catering to the dynamic ESG landscape.
Commenting on the award, the Chief Risk Officer of the Bank as well as the Chairman of the FirstBank Sustainability Committee, Patrick Akhidenor said, “We are honoured to receive this prestigious award for the second time in a row, which is a validation of our efforts to create a sustainable and inclusive future for all our stakeholders. Our approach to sustainability is hinged on three pillars: education, health and welfare; diversity and financial inclusion; responsible lending, procurement and climate initiatives”
He added: “We remain focused on driving impact through purposeful initiatives and inclusive growth, ensuring that our ESG efforts continue to create meaningful change in communities across Nigeria and beyond.”
The continued success in ESG and sustainability is driven by FirstBank’s vision to be Africa’s bank of first choice, leading with purpose, responsibility, and innovation.
-
news5 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle5 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
health4 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle4 years agoObateru: Celebrating a Quintessential PR Man at 60
-
health5 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
health5 years agoBREAKING: Nigeria confirms 663 new cases of COVID-19
-
entertainment7 months agoAshny Set for Valentine Special and new Album ‘ Femme Fatale’
-
news3 months agoBREAKING: Tinubu swears in new NNPCL Board