Tony Elumelu, Founder of The Tony Elumelu Foundation and Chairman of Heirs Holdings, UBA Group, and Transcorp Group, has emphasized the need to extend opportunities to the next generation, particularly in Africa, where young entrepreneurs hold the key to economic transformation.
Elumelu, who shared his remarkable journey from humble beginnings to global business leadership spoke at the prestigious Legacy Builders Palm Beach Conference held at the Eau Palm Beach Resort & Spa, where he delivered a compelling keynote address titled “Democratising Luck”.
Highlighting Africa’s demographic shift, Elumelu noted that the continent’s 1.5 billion population will double in 25 years, making youth empowerment a pressing priority. He underscored the need for investment in entrepreneurship as a means to drive sustainable development, create jobs, and combat poverty.
Elumelu’s Tony Elumelu Foundation (TEF) has been at the forefront of this mission, committing $100 million to fund, train, and mentor African entrepreneurs. Since its inception, the foundation has supported over 21,000 entrepreneurs, created 1.5 million jobs, and generated $4.2 billion in revenue.
“Our youth inspire me,” Elumelu stated. “They are creating jobs and eliminating poverty. Their impact is being felt across the continent as they come up with solutions that are transforming Africa.”
He urged global leaders, investors, and philanthropists to join the movement to democratiae luck, ensuring that every aspiring entrepreneur, regardless of background, has access to the resources needed to succeed.
“Africa will not rise by chance—it will rise because of deliberate action,” he declared. “Together, we can transform the continent, one entrepreneur at a time.”
The conference, hosted by Legacy Builders and Groco, brought together thought leaders, investors, and changemakers committed to shaping a better future. Elumelu was joined by Somachi Chris-Asoluka, CEO of the Tony Elumelu Foundation, and fellow Trustee Alexander Trotter, reinforcing the foundation’s commitment to empowering Africa’s youth.
