Elumelu Pledges Support for Gabon’s Infrastructure Development and Youth Empowerment
Tony Elumelu, the Group Chairman of United Bank for Africa (UBA) and founder of the Tony Elumelu Foundation (TEF), reaffirmed his commitment to supporting Gabon’s economic development following a meeting with President Brice Oligui Nguema in Libreville. During the high-level discussions, the leaders focused on strategies to improve the country’s infrastructure and promote entrepreneurship. Elumelu emphasized the role of private sector partnerships in driving sustainable development and job creation, aligning with his Africapitalism philosophy, which advocates for African solutions to African challenges.
Both Elumelu and President Nguema agreed that strategic investments in infrastructure are vital for fostering economic growth in Gabon. They discussed the need for collaboration between the public and private sectors to accelerate the country’s development. Elumelu committed to supporting infrastructure projects through UBA, while also prioritizing initiatives that create job opportunities for Gabonese youth, a group central to the country’s future economic stability.
Elumelu shared his plans for a dedicated youth empowerment initiative, which will provide non-refundable seed funding of $5,000 each year to young Gabonese entrepreneurs. This initiative, part of TEF’s broader efforts to support young African leaders, underscores Elumelu’s long-standing commitment to nurturing youth potential across the continent. The partnership with the Gabonese government aims to build a sustainable ecosystem for entrepreneurship, equipping the younger generation with the resources to contribute to the country’s economic transformation.
President Nguema welcomed Elumelu’s commitment, highlighting that partnerships with influential African investors like him are crucial for the nation’s economic agenda. With a focus on strengthening infrastructure and creating opportunities for youth, the collaboration between UBA and TEF represents a significant step toward Gabon’s economic rejuvenation. Elumelu also reiterated the importance of entrepreneurship, infrastructure, and financial inclusion in driving economic transformation, stressing the need for supportive policies to foster business growth across Africa.
SOURCE: TRIBUNE