Princess Adeyinka Tekenah saw an opportunity in a market where about 90 per cent of the coffee consumed in Nigeria was imported. With a $5,000 seed grant from the Tony Elumelu Foundation (TEF) in 2015, she launched Happy Coffee, a business that has since served more than 30,000 cups of coffee, generated over ₦90 million …
Nigerian businessman and philanthropist Tony Elumelu has announced a fresh round of 3,200 African entrepreneurs to receive funding under the Tony Elumelu Foundation (TEF) Entrepreneurship Programme, marking a major expansion of one of the continent’s largest private-sector-driven development initiatives. The announcement, made on Sunday, March 22, in his annual birthday message, coincides with the unveiling …
Heirs Energies has acquired the entire 20.07 per cent equity stake previously held by Maurel & Prom S.A. in Seplat Energy Plc. The transaction was reportedly valued at $500 million at a price of GBP 3.05 pence per share, amounting to 120.4 million ordinary shares. Pinnacle Daily reported that Heirs Energies recently secured a $750 …
Heirs Energy has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank) to ramp up its oil and gas production. The deal signed on Saturday, December 20, in Abuja, is expected to help the indigenous energy firm ramp up its crude oil output to about 100,000 barrels per day and gas to …
Billionaire businessman and philanthropist Tony Elumelu has reiterated his concern about building a new African economy, driven not by aid but by private sector leadership. He expressed this in a keynote speech at the Abuja Business and Investment Summit and Expo 2025 in Abuja. The event brought together policymakers, business leaders, investors, and entrepreneurs to …
Chairman of Heirs Holdings, Transcorp, and United Bank for Africa, Tony Elumelu in this interview with select journalist attending the International Monetary Fund/World Bank Annual meetings in Washington DC, spoke on a number issues including taking more risk with the pension funds You spoke on digital transformation and its benefits for Africa. What was your …
Tony Elumelu, Chairman of Heirs Holdings and United Bank for Africa (UBA), has called for the mobilisation of $4 trillion in domestic capital across Africa to fund large-scale investments in artificial intelligence (AI), energy, and infrastructure. This, he said, is key to a broader strategy of democratising prosperity across the continent. Elumelu made the call …
The Chairman of United Bank for Africa (UBA), Tony Elumelu, said he was shattered by the fire outbreak that killed staff members of the bank, describing the inferno as a devastating incident. The fire incident occurred yesterday at Afriland Towers Building on Lagos Island, housing the UBA branch. Elumelu reportedly expressed his deep sorrow over …
Nigerian industrialist and philanthropist Tony Elumelu has been nominated to receive the Appeal of Conscience Award at the 60th Annual Gala in New York. He is to be honoured alongsidewirrjfg the Archbishop of New York, Timothy Cardinal Dolan. The organisers of the Award, Appeal of Conscience Foundation, announced this in a statement issued by PR …
By Esther Ososanya Africa’s path to industrialisation continues to be blocked by two stubborn barriers: poor electricity access and erratic government policies, according to the verdict from Africa’s leading industrialist, Alhaji Aliko Dangote, who, alongside philanthropist Tony Elumelu and former President Olusegun Obasanjo, laid out a bold, solution-driven agenda to unlock the continent’s economic potential. …
