Tony Elumelu, One Of Africa’s Leading Investors, Shares His Guiding Principles

Tony Elumelu, Chairman of the financial powerhouse United Bank for Africa (UBA), which serves over 45 million customers globally, has outlined the core principles that have shaped his journey as a business leader.

UBA, recognised as one of the largest employers of labour in Africa, maintains operations in 20 countries across the continent and extends its footprint to the United Kingdom, the United States of America, France, and the United Arab Emirates.

Elumelu, a respected philanthropist and advocate for African development, shared that the values guiding his business journey are discipline, hard work, tenacity, resilience, and focus. “These principles have guided me throughout my entrepreneurship,” stated the founder of the Tony Elumelu Foundation (TEF).

Through TEF, Elumelu has supported over 24,000 entrepreneurs across Africa with seed capital exceeding $100 million. The foundation has also trained more than 2.5 million young people through its digital platform, TEF-Connect.

These initiatives have led to the creation of an estimated two million direct and indirect jobs and generated $3.2 billion in revenue for the continent’s economy.

“I want to say that discipline, hard work, tenacity, resilience, and focus are extremely important for success in business. In my career, in my journey, it has been a journey of discipline, focus, making short-term sacrifices for a better future, working very hard, and being extremely resilient,” Elumelu said.

Also Chairman of Transcorp, one of Nigeria’s largest listed corporations—which recently posted N279.7 billion in revenue and declared a N4.064 interim dividend—Elumelu continued, “I say to entrepreneurs that the journey is not linear. The journey is tough. It is a difficult journey. But you can’t stop, you can’t be scared, you can’t be put off. You have to be resilient. At times, it can be challenging and daunting—you drop, you pick yourself up, and you start again.”

Elumelu, globally recognised for his leadership and commitment to economic empowerment, has been named among Time’s 100 Most Influential People and featured on the inaugural Time100 Impact List.

He urged entrepreneurs to remain focused on their long-term goals.

“Keep your eyes on the long run. Just know that in the long run, so long as you are determined and tenacious, things will come through,” he advised.

A passionate believer in private-sector-led growth—a philosophy he champions as Africapitalism—Elumelu shared his principles as part of his weekly business nuggets, encouraging a generation of African entrepreneurs to embrace the values that have underpinned his success.