Tinubu congratulates Elumelu on his birthday and hails the push for Africacapitalism

President Bola Tinubu has congratulated economist, banker and philanthropist Tony Elumelu on his 62nd birthday, describing him as an icon of African business and a leading advocate of business on the continent.

The chairman of Heirs Holdings, United Bank for Africa and Transcorp will turn 62 on March 22, 2026.

In a statement on Saturday, the president praised him for his resilience, his commitment to excellence and his unshakable belief in African capitalism.

Tinubu praised the impact of the Tony Elumelu Foundation (TEF), highlighting its significant role in empowering young Africans through entrepreneurship.

He said the foundation’s entrepreneurship program has trained around 2.5 million young people in 54 African countries and provided more than 24,000 entrepreneurs with non-refundable seed capital of $5,000 each.

The President stressed that Elumelu’s continued investments in youth development are critical to Africa’s economic transformation and job creation.

He joined the entrepreneur’s family, friends and associates in wishing him good health, strength and greater success in his future endeavors.

This comes as the TEF is mobilizing young entrepreneurs to support Africa’s pre-2030 Sustainable Development Goals (SDGs) agenda.

Tony Elumelu Foundation (TEF) Chief Executive Officer, Somachi Chris-Asoluka, made the suggestion during a virtual media interview on Saturday.

The media conversation took place ahead of the TEF 2026 selection announcement, scheduled for Sunday 22 March, to unveil the new cohort of 3,200 young African entrepreneurs selected for this year’s TEF Entrepreneurial Programme.

Chris-Asoluka said the foundation is prioritizing entrepreneurs whose businesses have actively contributed to the United Nations Sustainable Development Goals (SDGs) as part of efforts to reposition Africa for accelerated development before 2030.

Answering questions from journalists, he said the foundation’s selection framework places a strong emphasis on impact, ensuring that supported businesses are not only profit-driven but also aligned with global development priorities.

He said the TEF encouraged applicants to clearly demonstrate how their business ideas would contribute to the Sustainable Development Goals, stressing that such alignment is critical to closing Africa’s development gaps.

“We want our entrepreneurs to actively contribute to the Sustainable Development Goals so that by 2030, Africa is no longer left behind, but is able to meet and exceed these goals,” he said.

According to her, this focus is central to the foundation’s broader mission of promoting inclusive economic growth, job creation and sustainable development across the continent.

He said entrepreneurs were evaluated not only on profitability and scalability, but also on their potential to generate measurable social and economic impact in areas such as education, healthcare, climate action and digital innovation.

Chris-Asoluka said the foundation believes young African entrepreneurs hold the key to promoting sustainable development, stressing that innovation by the private sector is essential to achieving long-term growth.

He said TEF remains committed to supporting early-stage entrepreneurs with training, mentorship and seed funding, while ensuring their initiatives are aligned with the continent’s development priorities.