Sunday Ojeme 
Prolific investor and Chairman, Heirs Holdings Group, Tony Elumelu, has reemphasied the importance of entrepreneurs in taking Africa to greater heights.
Elumelu, whose Foundation, The Tony Elumelu Foundation, has been instrumental to empowering Africans, described entrepreneurs as innovators, the dreamers, and the builders, who can transform not only their own lives but entire economies.
He declared these in his keynote remarks during the Legacy Builders Palm Beach Conference, which held at the Eau Palm Beach Resort & Spa Palm Beach, Florida. At the Conference, Themed: “Democratising Luck…”
Elumelu, who is also the Chairman, UBA Group, and Transcorp Group, used the event to reflect on the mission that has come to define his life, especially with regard to empowerment that has gulped well over $100 million.
According to him, “as a firm believer in the power of collaboration, I know that gatherings like this bring together like-minded individuals, who are committing their resources in advancing the cause of humanity.
“So why I am here? Let me tell you a bit about me: My name is Tony Elumelu, I am an African, I am a businessman, and I am a philanthropist I came from almost nowhere and have achieved a lot.
“Let me begin with Africa – mention Africa, you get many responses beauty, size, mineral wealth, nature, but also poverty, strife, conflct. “Some of what you hear is true – some not.
“I want to begin by talking about Africans – specifically young Africans – some of the most industrious, entrepreneurial people in the world.”
Describing Africa as home to 24 of the world’s 25 fastest-growing populations, he put the population currently at 1.5 billion with the capacity to double in 25 years.
“The median age is 19 – in Latin America it’s 31, in Asia and the US 38, Africa is home. “My country Nigeria will, accord – ing to the Economist, overtake the US, as the world’s third most populous country by 2050.
“Young people are important to me – and Africa has more – many more – than elsewhere. “I know these entrepreneurs these young Africans who can transform Africa “I founded the Tony Elumelu Foundation, and for the past 15 years, I have dedicated myself to a mission close to my heart: empowering African entrepreneurs.
“I spent $100 million. Why? Because of that belief that entrepreneurs hold the key to unlocking Africa’s untapped potential. They are the innovators, the dreamers, and the builders who can transform not only their own lives but entire economies.
“Let me give some more background. I started out my career as a banker. I was lucky to get a job. I had no silver spoon, no international education. “I worked hard and when I saw an opportunity to do more, I took it.
I led a group of investors to turn around a struggling bank and make it profitable. That opportunity led to what is the largest bank merger in sub-Saharan Africa to date.
“Our banking group now is in 20 counties in Africa, it is on four continents – we are the only African bank regulated to take deposits in the US. We bank over 45 million customers.
“Because Africa is a continent of opportunity, I diversified. “My Group is one of the largest oil producers in Nigeria – we are one of the largest power producers – we have acquired one of the top three electricity distribution companies in Nigeria.
We also invest in and manage real estate, healthcare and technology. “We are doing well – but also, we are doing good. Nigeria has huge resources and effectively no power – we are changing that – it means not just businesses, but schools and hospitals are beginning to function.
“If you come to our federal capital – you will stay in Transcorp Hilton – our flagship hotel – again we have invested over $130 million making it world class destination – for leaders – for business – for families. But also, as a gateway to investment in Africa. So, I have done well.
“But my journey has been shaped by a combination of luck, as well as opportunity, grit, and resilience. “Democratising luck is not just about finance—it is about knowledge-sharing, about mentorship, about building networks that support and uplift.
“We must create a continent where young entrepreneurs are not paralysed by systemic barriers, but propelled forward by opportunity. We will bring back hope.”
