The Bayero University, Kano, is set to honour philanthropist and entrepreneur, Tony Elumelu, for his immense contributions to human development at the university’s forthcoming 35th convocation.
According to the institution’s Vice-Chancellor, Muhammad Bello, the honour is in recognition of Mr Elumelu’s contribution to the country as an economist, an entrepreneur, and a philanthropist.
“Your philanthropic activities through the Tony Elumelu Foundation (TEF) have reached every nook and corner of our nation and have impacted positively on many lives.
“Your efforts in the area of entrepreneurship are making immense contributions to the economy,” the VC said.
The award will be conferred on Mr Elumelu at a grand ceremony scheduled for Saturday, June 15, at the university’s convocation arena.
Tony Elumelu is an investor and philanthropist, who, in 2011, conceived the term Africapitalism, which has catalysed the African entrepreneurial landscape, positioning the private sector as the engine for growth and empowerment, and prioritizing social and economic wealth creation.
He came into the limelight in 1997 when, according to Forbes magazine, he led a small group of investors to take over a small, floundering commercial bank in Lagos (Standard Trust Bank) which he later, in 2005, merged with the United Bank for Africa.
The 56-year-old entrepreneur serves as the Chairman of the UBA Group, now present in 20 African countries, Paris, London, and New York, and the only African bank with a deposit-taking presence in the United States.
Mr Elumelu also owns extensive real estate across Nigeria and a minority stake in mobile telecom firm MTN Nigeria, among other assets.
In 2010, he created The Tony Elumelu Foundation, the leading philanthropic organization empowering African entrepreneurs and promoting entrepreneurship in Africa.
The foundation empowers African entrepreneurs and the entrepreneurship ecosystem across 54 African countries.
The foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train, mentor, and fund 10,000 African entrepreneurs.
Mr Elumelu sits on a number of public and social sector boards, including the international advisory board of the Washington DC-based think tank, the Wilson Center, and on the board of UNICEF’s Generation Unlimited.
He also serves on the Global Advisory Council of the Harvard Kennedy School’s Centre for Public Leadership.
He is a member of the World Economic Forum Community of Chairmen.