Tony Elumelu Pledges Support For Gabon’s Growth Under President Nguema

The Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Tony O. Elumelu, has reaffirmed his commitment to Gabon’s economic development following a high-level meeting with President Brice Oligui Nguema.

During his visit to the Seaside Palace, the official residence of the President in Libreville, Elumelu and President Nguema discussed strategic initiatives aimed at enhancing infrastructure development and fostering entrepreneurship in the country.

Both leaders emphasized the need for strategic investments in infrastructure as a means of driving economic growth and job creation. Elumelu, a well-known advocate of Africapitalism, highlighted the vital role of private sector partnerships in achieving sustainable development.

“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 stated.

Building on their previous engagement in New York in September 2024, Elumelu unveiled plans to support Gabonese youth through UBA and 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,” he assured.

President Nguema welcomed this commitment, stressing the importance of partnerships in achieving Gabon’s economic goals.

“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,” the President remarked.

UBA Group, a leading Pan-African financial institution, has consistently supported economic growth across Africa through strategic infrastructure investments and financial empowerment initiatives. With this renewed commitment, the bank aims to promote financial inclusion and create sustainable opportunities for local entrepreneurs, strengthening Gabon’s economic resilience.

This collaboration marks a crucial step in fostering innovation, financial independence, and long-term prosperity in Gabon.

Separately, while addressing policymakers, business executives, and investors at the inaugural edition of the Cameroon Economic Meeting in Yaoundé, Elumelu underscored the importance of entrepreneurship, infrastructure development, and financial inclusion in driving economic transformation. He called for stronger intra-African trade and investment, urging stakeholders to adopt policies that create an enabling environment for businesses to thrive.

This renewed commitment from Elumelu and UBA highlights the growing role of African-led investment in shaping the continent’s economic future.

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