Tony Elumelu Leads High-Level Engagements in Ghana to Advance Africa’s Economic Transformation
The Group Chairman of United Bank for Africa (UBA), Tony O. Elumelu, CFR, has concluded a two-day official visit to Ghana, during which he engaged national leadership, addressed Africa’s top public financial managers, and held strategic discussions aimed at accelerating sustainable development across the continent.
As part of the visit, Mr. Elumelu, accompanied by senior UBA executives was received by H.E. John Dramani Mahama, President of the Republic of Ghana, at the Jubilee House. The meeting focused on driving economic growth, boosting productivity, and expanding job opportunities across Ghana. Their discussions aligned strongly with one of the key objectives of the UBA Africa Tour: deepening partnerships with African governments to advance prosperity, financial inclusion, and long-term development.
While in Ghana, Mr. Elumelu also held a working session with the UBA Ghana Board of Directors and interacted with the bank’s executive leadership, reaffirming UBA’s commitment to supporting Ghana’s economic agenda, strengthening the financial sector, and empowering businesses and communities across the region.
A major highlight of the visit was his keynote address at the African Association of Accountants-General Conference, where he delivered a powerful message on Africa’s developmental path and the crucial role of public financial managers in transforming the continent.
Speaking to an audience of financial stewards from across Africa, Elumelu emphasized the need for stronger collaboration between the public sector and the private sector, anchored on transparency, trust, and accountability. He underscored the principles of Africapitalism, his philosophy that the African private sector must drive development while creating economic and social wealth for communities.
“Africa has over $4Trillion available for development, not in foreign aid, but in our own pension funds and institutional assets,” he noted. “Yet these resources can only be mobilized when there is trust, discipline, and predictable rules. As Accountant-Generals, you are the custodians of this trust and the vanguards of Africa’s transformation.”
Highlighting Africapitalism, which is his philosophy of private sector-led development, Elumelu showcased the transformational impact of long-term African investment. He cited the UBA Group’s continental footprint, Heirs Holdings’ multi-sector impact, and the Tony Elumelu Foundation’s $100 million commitment which has empowered 24,000 entrepreneurs and created over 1.5 million jobs.
He concluded with a call to action:
“The time for talk is over. Africa’s transformation depends on all of us, government and private sector, working together with integrity, discipline, and purpose. Let us build partnerships that deliver real impact and shared prosperity for our continent.”
Mr. Elumelu’s visit reinforces UBA’s continued commitment to driving Africa’s economic renewal and collaborating with governments, regulators, and development partners to unlock the continent’s full potential.
