Tony Elumelu is a banking titan and a visionary leader whose influence extends across investment, philanthropy, and public policy. A self-described “turnaround expert,”
Elumelu rose from a bank clerk to become the CEO of a struggling Crystal Bank, which he renamed Standard Trust Bank (STB) and grew into Nigeria’s fifth-largest bank in just seven years.
His boldest move came in 2005 when he orchestrated the largest merger in sub-Saharan Africa at the time,combining STB with the older United Bank for Africa (UBA), which he then transformed into a pan-African financial institution with a presence in 20 countries.
Elumelu’s legacy is defined by his philosophy of “Africapitalism,” which posits that the private sector, led by entrepreneurs, holds the key to the continent’s social and economic development.
As a true architect of impact, he founded the Tony Elumelu Foundation, which committed $100 million to empower 10,000 entrepreneurs across Africa over 10 years by providing training,funding, and mentorship. His contributions have earned him Nigeria’s national honor of Commander of the Order of the Federal Republic (CFR).
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