{"id":15417,"date":"2022-02-04T18:49:24","date_gmt":"2022-02-04T18:49:24","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/little-known-facts-about-how-tony-elumelu-rose-from-salesperson-to-multimillionaire-philanthropist"},"modified":"2022-02-04T19:12:46","modified_gmt":"2022-02-04T19:12:46","slug":"little-known-facts-about-how-tony-elumelu-rose-from-salesperson-to-multimillionaire-philanthropist","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/little-known-facts-about-how-tony-elumelu-rose-from-salesperson-to-multimillionaire-philanthropist","title":{"rendered":"Little-known facts about how Tony Elumelu rose from salesperson to multimillionaire philanthropist"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Tony Elumelu is a Nigerian entrepreneur and investor who owns major shares in Transcorp, a publicly traded Nigerian conglomerate with interests in hospitality, agriculture, oil production and power generation.<\/p>\n

The Nigerian business mogul first came into the limelight in 1997 when he led a small group of investors to take over \u201ca small, floundering commercial bank\u201d in Lagos, according to Forbes. He would grow the bank to become United Bank for Africa with branches across Africa, the United Kingdom and the U.S.<\/p>\n

Before starting his banking career, he was a salesperson. \u201cI started my career as a salesman, a copier salesman to be specific, young, hungry, and hardworking, but the reality was that I was just one of thousands of young Nigerian graduates, all eager to succeed. How did I get from there to where I am now? Of course, hard work, resilience, a long-term vision \u2013 but also luck,\u201d Elumelu said.<\/p>\n

His career in banking started at Allstates Trust Bank. At the time, he had just completed his master\u2019s degree in Economics from the University of Lagos and he saw a job ad by Allstates Trust Bank. Although he did not have the required qualification then, he applied.<\/p>\n

\u201cI know I may not have met the qualifying criteria for the advertised roles, but I am intelligent, driven, ambitious and I will make the bank proud. My 2:2 degree does not demonstrate the full extent of my intelligence and ability, and I know I can do so much more,\u201d he wrote on his cover letter.<\/p>\n

Elumelu was shortlisted and subsequently hired by the bank after going through several interviews and tests. At Allstates Trust Bank, he started as an entry-level analyst. Within a year, he became the youngest branch manager at age 27 by dint of hard work.<\/p>\n

\u201cI was hardworking, energetic, creative and prioritised getting things done, but it was also good fortune that my bosses Toyin Akin-Johnson and Ebitimi Banigo took notice, and then, believed in me,\u201d Elumelu recounted. \u201cThey took a chance on me by appointing me as branch manager after an incredibly short time in the bank. They recognised in me the raw materials needed to make a good leader and were prepared to invest in me and my ability. My rise to Branch Manager within a short period is a great story but I know in my heart, I was lucky, as well as deserving.\u201d<\/p>\n

By 1997, he had led a group of investors to take over Standard Trust Bank, a Lagos-based commercial bank. He turned the fortunes of the company around and in 2005 he merged it with the United Bank for Africa. The bank came to have over seven million customers while operating in 19 countries in Africa.<\/p>\n

In 2015, Forbes reported that Elumelu also owns extensive real estate across Nigeria and a minority stake in mobile telecom firm MTN Nigeria, among other assets. He is currently also a philanthropist and has over the years donated towards many charity causes.<\/p>\n

He founded the Tony Elumelu Foundation to develop the next crop of African entrepreneurs. In 2016, he invested $100 million in emerging African entrepreneurs. The year before that, 1000 young entrepreneurs from across Africa were selected into a program by the foundation and were equipped with mentoring, business training and start-up capital, according to Forbes.<\/p>\n

The businessman is married with children. According to Forbes, he is worth $700 million. He had previously been featured on Forbes as a billionaire but fell off the billionaire club.<\/p>\n

He sits on a number of public and social sector boards including the World Economic Forum Community of Chairmen and the Global Board of UNICEF\u2019s Generation Unlimited. He was named in the 2020 Time 100 Most Influential People in the World, recognized for his business leadership and economic empowerment of young Africans.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Tony Elumelu is a Nigerian entrepreneur and investor who owns major shares in Transcorp, a publicly traded Nigerian conglomerate with interests in hospitality, agriculture, oil production and power generation. The Nigerian business mogul first came into the limelight in 1997 when he led a small group of investors to take over \u201ca […]<\/p>\n","protected":false},"author":84,"featured_media":15416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,235,233],"class_list":["post-15417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nLittle-known facts about how Tony Elumelu rose from salesperson to multimillionaire philanthropist - Zambia<\/title>\n<meta name=\"description\" content=\"Tony Elumelu is a Nigerian entrepreneur and investor who owns major shares in Transcorp, a publicly traded Nigerian cong ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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