Tinubu Celebrates Tony Elumelu at 62, Hails TEF’s Impact on African Entrepreneurship

President Tinubu has celebrated Tony Elumelu at 62 and hailed TEF’s impact on African Entrepreneurship.

 

NewsOnline Nigeria reports that President Bola Ahmed Tinubu has congratulated renowned economist, banker, and philanthropist Tony Elumelu on his 62nd birthday, describing him as an African business icon and a strong advocate of enterprise across the continent.

Elumelu, Chairman of Heirs Holdings, United Bank for Africa, and Transcorp Group, will mark his 62nd birthday on March 22, 2026.

In a statement issued on Saturday, the president commended Elumelu for his resilience, commitment to excellence, and his enduring belief in Africapitalism; a development philosophy that promotes the role of the private sector in driving Africa’s economic growth.

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Tinubu also praised the impact of the Tony Elumelu Foundation (TEF), highlighting its contributions to empowering young Africans through entrepreneurship initiatives.

According to the president, the foundation’s entrepreneurship programme has trained about 2.5 million youths across 54 African countries and provided more than 24,000 entrepreneurs with non-refundable seed capital of $5,000 each.

He noted that Elumelu’s sustained investment in youth development remains critical to Africa’s economic transformation and job creation.

Tinubu joined family members, friends, and associates of the business leader in wishing him continued good health, strength, and greater accomplishments in the years ahead.

Meanwhile, the Tony Elumelu Foundation is mobilizing young entrepreneurs to help drive Africa’s Sustainable Development Goals (SDGs) agenda ahead of the 2030 deadline.

The Chief Executive Officer of TEF, Somachi Chris-Asoluka, disclosed this during a virtual media parley on Saturday, ahead of the 2026 TEF selection announcement scheduled for Sunday, March 22.

The event will unveil the newest cohort of 3,200 young African entrepreneurs selected for this year’s TEF Entrepreneurship Programme.

Chris-Asoluka explained that the foundation is prioritizing entrepreneurs whose businesses actively contribute to the United Nations SDGs as part of efforts to accelerate Africa’s development before 2030.

She noted that the foundation’s selection framework places strong emphasis on impact, ensuring that supported enterprises are not only profitable but also aligned with global development priorities.

“We want our entrepreneurs to actively contribute to the SDGs so that by 2030, Africa will no longer lag behind but will be able to meet and surpass these goals,” she said.

According to her, the focus forms part of the foundation’s broader mission of promoting inclusive economic growth, job creation, and sustainable development across Africa.

Chris-Asoluka added that entrepreneurs are evaluated not only on profitability and scalability but also on their potential to create measurable social and economic impact in sectors such as education, healthcare, climate action, and digital innovation.

She reaffirmed that the foundation remains committed to supporting early-stage entrepreneurs through training, mentorship, and seed funding while ensuring their businesses align with Africa’s long-term development priorities.