Tony Elumelu, Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), has reinforced his commitment to Gabon’s economic development following high-level talks with President Brice Oligui Nguema at the Presidential Palace in Libreville.
The meeting, held at President Nguema’s invitation, focused on strategic investments in infrastructure and entrepreneurship as catalysts for economic growth. Elumelu, a proponent of Africapitalism, emphasized the crucial role of private sector partnerships in driving sustainable development across the continent.
“The President of Gabon is committed to ensuring the development of infrastructure in Gabon, and I, as an African and an African investor, support countries, leaders, and companies that want to invest and create jobs for young people,” Elumelu stated.
Building on their previous meeting in New York last September, Elumelu announced plans for a dedicated initiative to support Gabonese youth through UBA and TEF. “I made a promise that UBA Group will support infrastructure development projects in Gabon, and TEF will provide young entrepreneurs with non-refundable seed funding of $5,000 each year,” he pledged.
President Nguema expressed appreciation for the partnership, noting, “Gabon is poised for a new era of economic transformation, and partnerships with leading African investors like Tony Elumelu are key to accelerating our progress.”
UBA Group, a leading Pan-African financial institution, has consistently supported economic growth across the continent through strategic infrastructure investments and financial empowerment initiatives. This collaboration represents a significant step toward promoting innovation, financial independence, and economic prosperity in Gabon.
Earlier, at the inaugural Cameroon Economic Meeting in Yaoundé, Elumelu addressed policymakers, business executives, and investors, highlighting the importance of entrepreneurship, infrastructure development, and financial inclusion in driving economic transformation. He also emphasized the value of intra-African trade and investment, urging stakeholders to create an enabling environment for business growth.
Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.