Chairman of Heirs Holdings, Mr. Tony Elumelu has been conferred with the 2025 Appeal of Conscience Award by the Appeal of Conscience Foundation Founded by, Rabbi Arthur Schneier.
The award was received on his behalf by his wife, Dr Awele Elumelu who delivered his speech.
Elumelu, who is also the Chairman of United Bank for Africa (UBA) PLC, commended the organiser, saying humanity has been the core of his life and what keeps him up at night.
He said his preoccupation is how to transform lives across Africa and ‘how do we leave a legacy that uplifts people and creates opportunity for everyone?’
Elumelu said, ‘I was not born with a silver spoon, I was not educated abroad, I inherited nothing.
‘I was blessed with determination, but also luck. That determination, and that luck have brought material success. I have been rewarded with a wonderful family, with privileges, with the capacity to bring about change.
‘The American tradition of philanthropy, the tradition we see so clearly in this room today, has always inspired me.
‘The great names that built America in the Gilded Age, the new generation that have endowed universities, research and culture.
‘I was conscious right from the beginning that we needed to give back. And to give back in a way that catalytically changes our continent, Africa. I am not one to blame others.
‘I also – and my career demonstrates this – know that Africa is full of opportunity. In fact, I think no other continent offers such an opportunity.’
The billionaire businessman disclosed that his businesses span four continents employing over 40,000 people – including here in New York – ‘where we have the United Bank for Africa (UBA), the only African bank that can take deposits in the United States of America.’
He added, ‘I believe in the power of the private sector. This is the core of the philosophy I call Africapitalism.
‘I know the private sector’s long-term interests are inextricably linked to the health of our communities.
‘At Heirs Holdings, when we invest in energy and power, we see it as a mission to light up homes, schools, and hospitals.
‘When we create value in the financial services industry, we drive inclusion, offering the underrepresented a stake in the economy.
‘And through the Tony Elumelu Foundation, a personal commitment we made in 2010, we have identified, trained, mentored, and provided over USD100million in seed funding to over 24,000 young African entrepreneurs from all 54 African countries.’
According to him, by empowering a generation with economic opportunities and the means to shape
their own destinies, ‘we are combatting the despair that fuels economic instability, migration, and insecurity.’