By Obinna Uballa
Mr. Tony Elumelu, chairman of Heirs Holdings and United Bank for Africa (UBA), has revealed how an unexpected opportunity at age 27 set the tone for his successful career and inspired his drive to empower Africa’s young entrepreneurs.
In a post on his X handle on Friday, the billionaire investor said he was appointed branch manager at AllStates Trust Bank when many doubted his ability to handle the responsibility due to his age.
“At 27, I was given the opportunity of a lifetime: branch manager at AllStates Trust Bank, Nigeria,” Elumelu wrote. “Many doubted a young man could lead a bank branch. That chance changed the entire course of my life. It gave me confidence, a platform, and perspective.”
Elumelu credited HRM Ebitimi Banigo, then chairman of the bank, for taking a chance on him, saying leadership should be defined by competence and vision rather than age.
He outlined three lessons from that experience: that age is not a barrier to leadership, trust is the most valuable capital, and perspective matters.
“If you can execute, are hungry to learn, and committed to results, you can lead at any age,” he stated. “Leadership is about clarity of vision and the discipline to execute.”
“My journey didn’t start with money—it started with trust. Trust was the seed that propelled everything else. Give young people trust, and they will surprise you,” he added.
The billionaire philanthropist said that single opportunity shaped his passion for creating similar chances for others, which led to the establishment of the Tony Elumelu Foundation (TEF).
“That’s why today, I am passionate about giving young people the same chance I was given,” he said. “Cascading luck. Catalysing opportunity. It is the reason we invest in Africa’s youth at the Tony Elumelu Foundation, because someone once invested in me.”
Since its launch in 2010, TEF has reportedly disbursed over $100 million in seed funding and provided mentorship and business training to more than 20,000 entrepreneurs across 54 African countries.
According to him the foundation’s goal is to empower 10,000 entrepreneurs annually, making it one of the continent’s largest support initiatives for small and medium-sized enterprises (SMEs).
Elumelu, an advocate of “Africapitalism,” said Africa’s economic future depends on giving young people a platform to lead.
“My story is proof that when we trust in our youth, they are ready to lead, grow, and transform our continent,” he said. “Let’s keep believing in Africa’s youth.”
