Business
Tony Elumelu Reveals “The Ultimate Luxury”, Shares Simple Road Map
the chairman – and power behind – transformative value spinner, Transcorp Group
One of Africa’s leading investors and philanthropists, Tony Elumelu has shared what he defined as “the ultimate luxury”.
“Getting to do what you love to do every day – that’s really the ultimate luxury” the chairman – and power behind – transformative value spinner, Transcorp Group whose subsidiaries include Transcorp Power, one of the leading producers of electricity in Nigeria and Transcorp Hotels Plc, the frontline hospitality brand shared on Monday, August 26, 2024.
Elumelu who is also the Chairman of the financial service group providing corporate, commercial, SME and consumer banking services to more than 45 million customers globally, United Bank for Africa (UBA) did not just share his definition of “the ultimate luxury”: but equally disclosed a simplified road map for entrepreneurs.
“As you begin your entrepreneurial journey, ensure that you do not use your profits or earning to purchase the latest cars or houses. Ensure that you are as frugal as possible with your expenditure while you accumulate your capital” the founder of Heirs Holdinngs – his family owned investment company, committed to improving lives and transforming Africa, through long-term investments in strategic sectors of the African economy, including financial services, hospitality, power, energy, technology and healthcare – revealed.
Elumelu gave the insight into his definition of the “ultimate luxury” and provided the simplified road map as part of his unceasing motivation as a prominent champion of entrepreneurship in Africa.
The social media handle of The Tony Elumelu Foundation (TEF), the leading philanthropy empowering a new generation of African entrepreneurs, shared the “message” from the advocate of the economic philosophy of Africapitalism – which posits that the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
Checks revealed that since its founding in 2010 by Elumelu, TEF has disbursed over US$100,000,000 directly to young entrepreneurs across the continent as part of providing funding, mentoring, and capacity-building support from the Foundation to more than 20,000 of them – with over 400,000 direct and indirect jobs created.
