…we continue to support critical projects that uplift communities
The Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu, has reaffirmed that African continent needs massive capital for investments.
Elumelu, also the Chairman of United Bank for Africa (UBA), stated this on his X handle while reflecting on his visit to Abidjan, Côte d’Ivoire, for the launch of @UnitedCapital’s West African headquarters.
According to him, “yesterday, I was in Côte d’Ivoire to mark a new milestone in our pan-African journey: launching @UnitedCapital’s West African headquarters. This is a major step in our mission to empower Africans and build institutions that serve our continent.
“With this new licence from AMF-UMOA, @UnitedCapital now operates across eight WAEMU countries: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo, making United Capital the first Nigerian investment management firm to hold this regional licence, an important marker of true pan-African integration.
“I commend @UnitedCapital CEO, Peter Ashade and the team for their exceptional output, and I welcome Labas Bamba, who now leads our operations in Côte d’Ivoire as we deepen our West African footprint.
“UCAP’s expansion is #Africapitalism in action; mobilising local capital, led by African talent, to unlock African potential. Our businesses are not just growing. They are building. Creating value. Creating jobs. Driving impact. This is the @Heirs_Holdings ethos of enterprise, excellence, execution.”
Emphasising on the roles played so far by the Foundation, he pointed out that through the @TonyElumeluFDN, “we have empowered 144 young Ivorian entrepreneurs with $700,000 in non refundable seed capital, who have created 1,800+ jobs. These are the results that define our impact.
“I paid a courtesy visit to H.E. President Alassane Ouattara (@Presidenceci), whose visionary leadership has supported private sector-led growth. @UBAGroup is proud to partner with Côte d’Ivoire in its economic transformation, and is now one of the most profitable banks in Côte d’Ivoire, serving over 1.2 million customers through 20+ branches.”
The Chairman of Heirs Group also hinted of his presence at the AfDB Annual Meetings, saying:
“During my visit, I joined the AfDB Annual Meetings. I congratulate @SidiOuldTah on his election as the incoming President of the African Development Bank (@AfDB_Group).
“Under his leadership @BADEA partnered with the @TonyElumeluFDN to empower 220 low income Nigerian women, including wives of deceased Nigerian military officers.
“I also commend the outgoing President Dr. @Akin_Adesina for a decade of transformative leadership at the African Development Bank. Under his guidance, the @AfDB_Group partnered with the @TonyElumeluFDN to empower 1,000 African entrepreneurs.
“Africa needs massive capital for investments.
It needs vision. And it needs execution.
We must be deliberate. We must act. We must lead. And most importantly, we must continue to collectively build the Africa we want.
“Africa’s development will not be handed to us. We must build it ourselves.”
