President of Gabon Brice Nguema has conferred the Commander in the National Order of Gabonese Merit on Tony Elumelu, the group chairman of United Bank for Africa (UBA) Plc and founder of the Tony Elumelu Foundation.
The prestigious award, presented at the presidential palace in Libreville on Monday, recognises Mr Elumelu’s significant contributions to Africa’s economic development, particularly in youth entrepreneurship and infrastructure growth.
President Nguema, who was sworn in on Saturday as Gabon’s new leader, praised Elumelu’s commitment to inclusive and sustainable growth across the continent. “Tony Elumelu is not only a visionary entrepreneur but also a committed friend of our nation, Gabon,” Nguema said. “Through his Foundation and the UBA Group, he has consistently shown that investing in Africa is not just good business—it is the key to our shared future. Today, we honour a man whose actions continue to empower young Africans and inspire nations.”
In his acceptance remarks, Elumelu expressed gratitude for the recognition and reaffirmed his dedication to supporting Gabon’s development agenda. “I am truly humbled by this honour. It reflects a shared belief that African-led solutions, African entrepreneurs, and African institutions will shape the future of this continent,” he said. “At UBA and the Tony Elumelu Foundation, we remain committed to building bridges, not just between nations, but between ambition and opportunity.”
Sharing a video compilation of the ceremony on Instagram on Monday, Elumelu described the honour as a reflection of the positive influence his efforts continue to have across the continent.
“This morning, I was decorated with the Gabonese National Honour, ‘Commander in the National Order of Gabonese Merit’ by the President of Gabon, H.E. Brice Oligui Nguema, following his inauguration on Saturday. A testament to the impact we have created in Africa,” Elumelu wrote.
In a statement on social media, Heirs Holdings also celebrated the recognition, saying the award highlighted Elumelu’s commitment to youth empowerment, strategic investment and continental development.
“This prestigious award which was presented by the President of the Republic of Gabon, H.E. President Brice Nguema at the Palais du bord de mer (Presidential Palace) in Libreville was in recognition of Tony O. Elumelu, CFR’s extraordinary contributions to Africa’s socio-economic transformation and nation building through strategic investment, youth entrepreneurship, and private sector leadership across the continent.” the group noted.
Elumelu’s work in Gabon aligns with two key areas: infrastructure financing, which is vital for long-term economic transformation, and youth entrepreneurship, championed through the Tony Elumelu Foundation. The Foundation has provided training, mentorship, and $5,000 in seed capital to young entrepreneurs in Gabon and across Africa, fostering economic empowerment and innovation.
The award also underscores the growing financial partnership between Gabon and UBA, which has a strong presence across Africa and is instrumental in advancing financial inclusion and development. UBA operates in 20 African countries as well as in the United Kingdom, France, the United Arab Emirates, and the United States, serving over 35 million customers globally.
Elumelu, who also chairs Heirs Holdings and Nigeria’s largest quoted conglomerate, Transcorp, is a leading advocate for African economic transformation. His investments span strategic sectors including financial services, hospitality, power, energy, technology, and healthcare.
Through the Tony Elumelu Foundation, he has empowered thousands of entrepreneurs in all 54 African countries, promoting inclusive development and long-term prosperity.
The recognition comes at a pivotal time for Gabon, as the nation focuses on economic recovery and inclusive growth under new leadership.
