The President of the Republic of Gabon, His Excellency General Brice Clotaire Oligui Nguema, has conferred the nation’s highest civilian award—the Commander of the National Order of Gabonese Merit—on Nigerian businessman and philanthropist, Tony O. Elumelu.
Elumelu, the Group Chairman of United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation, was honoured on Monday at a ceremony held at the Presidential Palace in Libreville, in recognition of his outstanding contributions to the economic development of Gabon and the wider African continent.
Speaking during the award presentation, President Nguema praised Elumelu’s efforts in empowering African youth, promoting entrepreneurship, and supporting infrastructure development. “Tony Elumelu is not only a visionary entrepreneur but also a true friend of Gabon. Through his foundation and UBA Group, he has shown that investing in Africa is not only profitable—it is essential for our collective future,” the President said.
Elumelu, visibly moved by the honour, described the recognition as a reflection of a shared commitment to Africa’s progress. “This award is a powerful reminder of what we can achieve together as Africans. At UBA and the Tony Elumelu Foundation, we remain dedicated to unlocking Africa’s potential through investment, empowerment, and collaboration,” he stated.
The recognition comes at a pivotal moment for Gabon, which is accelerating economic reforms under its new leadership. Elumelu’s recent engagements in the country have focused on infrastructure financing and entrepreneurship support—two pillars critical to long-term economic growth. Through the Tony Elumelu Foundation, young Gabonese entrepreneurs benefit annually from mentorship, training, and non-refundable seed capital of $5,000.
The award also underscores the growing financial ties between Gabon and UBA Group, which has a strong presence across the continent and serves over 35 million customers globally. UBA is the only African bank with deposit-taking operations in the United States and maintains offices in the UK, France, and the UAE.
Elumelu is also the founder and chairman of Heirs Holdings, an investment group with interests across financial services, energy, hospitality, and healthcare. He chairs Transcorp, Nigeria’s largest publicly listed conglomerate, which includes Transcorp Power and Transcorp Hotels.
Widely regarded as one of Africa’s foremost advocates for entrepreneurship, Elumelu launched the Tony Elumelu Foundation in 2010. The foundation has since empowered over 18,500 entrepreneurs across all 54 African countries, with a digital network of more than one million users and a $100 million commitment toward entrepreneurship development.
Elumelu’s work is grounded in his philosophy of Africapitalism, which positions the African private sector—especially entrepreneurs—as key drivers of the continent’s economic and social transformation.
In 2020, he was named among the TIME100 Most Influential People in the World and was also decorated with Belgium’s oldest royal order for his contributions to economic empowerment.