Tony Elumelu, Chairman of the United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation, has restated his commitment to supporting Gabon’s economic development, aligning with his broader vision of promoting entrepreneurship and economic growth across Africa.
Elumelu reaffirmed his commitment to supporting Gabon’s economic development after a high-level meeting with President Brice Oligui Nguema at the Presidential Palace in Libreville, Gabon.
The meeting was a follow-up to their previous engagement in New York in September 2024.
During their discussion, they explored strategies to boost infrastructure development and entrepreneurship in Gabon, emphasizing the crucial role of strategic infrastructure investments in driving economic growth and job creation.
Elumelu, the businessman and strong advocate of Africapitalism, emphasized the role of private sector partnerships in driving sustainable development.
He said: “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 unveiled plans to support the Gabonese youths through UBA and his Foundation, the TEF.
“As the founder of TEF, which supports young Africans, I am pleased to work alongside leaders who embrace and bring together African youth.
“His Excellency, the President, was kind enough to share his vision for assisting young Gabonese people, and he asked for my support.
“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,” Persecondnews quotes Elumelu as saying.
The President of Gabon expressed appreciation to Elumelu for his commitment to the development of the country and its youth.
He highlighted the significance of the partnership in driving the nation’s economic agenda.
Nguema said: “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.
“Our focus is on creating opportunities for young people and strengthening the nation’s infrastructure, and we welcome collaborations that align with this vision.”
Persecondnews recalls that UBA Group, a leading Pan-African financial institution, has long supported economic growth across the continent through strategic infrastructure investments and financial empowerment initiatives.
With this renewed commitment, the bank aims to enhance financial inclusion and create sustainable opportunities for local entrepreneurs, further strengthening Gabon’s economic resilience.
The collaboration with Gabon marks a significant step in fostering an environment that promotes innovation, financial independence, and economic prosperity of the country.
Elumelu had earlier addressed a diverse audience of policymakers, business executives, and investors at the inaugural Cameroon Economic Meeting in Yaoundé.
He emphasized the vital role of entrepreneurship, infrastructure development, and financial inclusion in driving economic transformation across Africa.
Elumelu stressed the importance of intra-African trade and investment, urging stakeholders to implement policies that foster a conducive business environment.
By promoting these key areas, Elumelu aims to empower African businesses to thrive and contribute to the continent’s economic growth.
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