Business
The most powerful people in African business 2012
Tony Elumelu: Executive Chairman, Heirs Holdings & The Tony Elumelu Foundation
In 1997, Tony Elumelu led a small group of investors to take over a distressed medium-sized commercial bank in Lagos. He transformed the bank into what we know today as the UBA Group– a US$2 billion (market capitalization) Pan-African financial services behemoth spanning 20 African countries with over US$12 billion in assets and over 10,000 employees.
In 2010, he stepped down as Chief Executive of the bank and went on to found Heirs Holdings- an, African-focused holding company which invests in African companies across important sectors of the economy.
He also founded the Tony Elumelu Foundation, an influential non-profit which grooms and mentors business students from across the continent.
