Tony Elumelu to co-chair the New African Summit, at the 2024 Future Investment Initiative in Saudi Arabia

The Chairman of the United Bank for Africa Plc, Tony Elumelu will co-chair the New African Summit at the upcoming eighth edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia.

Elumelu, also the Chairman of Heirs Holdings and founder of Tony Elumelu Foundation will join other global financial business leaders to headline the FII Opening with the theme, ‘Infinite Horizons.’

The event is meant to demonstrate how investment can serve as a catalyst for a prosperous and sustainable future, pushing the boundaries of what is possible for humanity.

Elumelu brings his perspective as both a business leader and catalytic philanthropist to speak at plenary titled, ‘Board of Change Makers: Banking & Investment.’ He will also speak on the ‘Landscape of African Entrepreneurship’ in a fireside chat, championing entrepreneurship, investing in youth, and highlighting the fast-growing presence of United Bank for Africa (UBA) in the Gulf.

The Heirs Holding Chair, one of the most prominent voices on Africa’s transformation agenda, will advocate for entrepreneurship and investing in youth as the means to accelerate Africa’s economic growth and development.

He will draw insights from the impact and unique model of the Tony Elumelu Foundation, the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication and job creation across Africa.

On October 29, Elumelu will join other global business leaders, in the Opening Plenary panel, titled ‘Board of Changemakers: Banking & Investment,’ to discuss whether visionary leaders create new economic systems that embrace innovation.

Demonstrating global interest in HH Group companies and the breadth of the HH investment portfolio, the forum will see the presence of other senior Heirs Holdings executives – Owen Omogiafo, President and Group CEO of Transcorp Group, one of

Africa’s leading, listed companies with strategic investments in the power, hospitality and energy sectors, driven by its mission to improve lives and transform Africa, who will join other global female leaders in the energy sector at the HERizon Summit to discuss how women can power sustainable supply chains.

Also to be present is Osa Igiehon, CEO of Heirs Energies, who will share insights on energy transition and security at his session focused on powering Africa’s future through green investments.

Heirs Energies has made significant impact in Nigeria, driving energy self-sufficiency, through rapid expansion in oil and gas production and building energy value chains, contributing to HH’s integrated energy strategy.

There is also Muyiwa Akinyemi, Deputy Managing Director, United Bank for Africa Group, who will join a roundtable session, leveraging his perspective drawn from his career with Africa’s Global Bank. UBA Group’s presence in the GCC is pivotal in fostering stronger economic ties between Africa and the Gulf, reflecting a commitment to cross-border investment and sustainable growth.

The Tony Elumelu Foundation will also host a plenary session on the sidelines of FII, focused on youth entrepreneurship and its critical role in creating shared prosperity on the continent.

As the advocate of Africapitalism, Elumelu has long championed entrepreneurship as key to accelerating economic growth across Africa, leveraging his presence at FII to highlight the continent’s vast investment opportunities.

Elumelu said, “The relationship between Africa and the Gulf has evolved to a thriving economic partnership, driving growth across both regions. I am proud to co-chair the New Africa Summit at FII, where we will explore mutually beneficial investment opportunities between Africa and the Gulf and highlight the key role that entrepreneurship plays in transforming visions into ventures. Together, Africa and the Gulf are building a legacy of shared prosperity for a better tomorrow.”

Nigeria-born Tony Elumelu, whom Time recognized as one of the world’s most influential people in 2020, is one of Africa’s most respected entrepreneurs, businessmen, and philanthropists. He serves as Chairman of family-owned leading investment company, Heirs Holdings and of United Bank for Africa (UBA), a global bank with presence across four continents, originating from the sub-Saharan Africa.

Named one of the 50 wealthiest Africans by Forbes, Elumelu has given $100 million of his fortune to 20,000 entrepreneurs across

54 African countries through the Tony Elumelu Foundation (TEF), whose founder he is.