Money Isn’t The Greatest Gift — Tony Elumelu Tells African Youth, Reveals What Is

One of Africa’s leading entrepreneurs and philanthropists, Tony Elumelu, has urged young Africans to pursue knowledge rather than money, saying the greatest gift anyone can receive is the ability to create wealth through financial discipline, investment and entrepreneurship.

Elumelu, the immediate past Chairman of United Bank for Africa (UBA), made the call while addressing young people at the Africa and Everywhere Festival, a youth empowerment initiative founded by his daughter, Oge Elumelu.

“The greatest gift you can receive is not money. It is the knowledge to create wealth,” he said.

And, gave insights, “When you understand how to save, invest and build capital, you gain something far more valuable than temporary support; you gain the ability to shape your own future.”

The business leader, whose advocacy for entrepreneurship has empowered thousands of young Africans through the Tony Elumelu Foundation, said financial literacy and capital formation remain critical to individual prosperity and the continent’s economic transformation.

“We want to help you learn how to invest, how to save, because it’s all about capital formation and investment. It’s all about lifting ourselves ultimately, which is why I believe in the democratisation of prosperity,” he said.

He urged young people to remain focused on long-term success rather than instant rewards.

“Be ambitious. Dream. Be very, very hardworking. Stay very, very disciplined. Defer gratification,” the master entrepreneurs stressed.

Elumelu also encouraged the youths to make service to humanity a guiding principle in their pursuit of success, noting that individual progress should translate into broader development for Africa.

He said when young Africans succeed, the continent also stands to benefit.

Thanking the organisers, he said: “Thank you to Africa and Everywhere Festival for creating platforms that inspire the next generation.”

The festival brought together young people, business leaders and professionals from diverse sectors to promote mentorship, networking and career development, while exposing participants to opportunities that can help shape their future.

Elumelu’s message reflects a philosophy that has defined much of his career in business and philanthropy.

Having recently concluded his tenure as Chairman of UBA after helping steer the pan-African financial institution through a period of remarkable growth and continental expansion, he has continued to champion entrepreneurship, financial inclusion and youth empowerment as catalysts for Africa’s development.

His address reinforced a message he has consistently preached over the years: lasting prosperity is created not by handouts, but by equipping people with the knowledge, discipline and opportunities to build wealth and create value for others.