Elumelu Pledges Support for Gabon’s Infrastructure and Youth Empowerment
Elumelu Pledges Support for Gabon’s Infrastructure and Youth Empowerment
Libreville, Gabon – The Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Tony O. Elumelu, has reaffirmed his commitment to boosting Gabon’s infrastructure and empowering its youth. This pledge came during a high-level meeting with President Brice Oligui Nguema at the Seaside Palace, Libreville, the official residence of the Gabonese President.
During the discussions, Elumelu and President Nguema explored strategic collaborations aimed at enhancing infrastructure, fostering entrepreneurship, and creating job opportunities in Gabon. Emphasizing the importance of private sector partnerships in sustainable development, Elumelu, a strong advocate of Africapitalism, reiterated his dedication to supporting economic growth across Africa.
Commitment to Infrastructure and Youth Development
“The President of Gabon is committed to ensuring the development of infrastructure, and I, as an African investor, support leaders and businesses that drive investments and create jobs for young people,” Elumelu stated.
Building on a prior engagement between both leaders in New York in September 2024, Elumelu announced plans for a youth empowerment initiative through UBA and TEF, aimed at providing young Gabonese entrepreneurs with financial support and business training.
“As the founder of TEF, which supports young Africans, I am pleased to work alongside leaders who prioritize youth empowerment. His Excellency, President Nguema, shared his vision for assisting young Gabonese, and he requested my support. In response, I committed that UBA Group will support infrastructure development in Gabon, and TEF will provide young entrepreneurs with non-refundable seed funding of $5,000 annually,” he disclosed.
Gabon’s Economic Transformation Agenda
President Brice Oligui Nguema welcomed the partnership, describing it as a crucial step in advancing Gabon’s economic transformation.
“Gabon is entering a new era of economic progress, and partnerships with leading African investors like Tony Elumelu are essential in accelerating our development agenda. Our focus is on creating opportunities for young people and strengthening national infrastructure, and we welcome collaborations that align with this vision,” the President stated.
UBA Group, a leading Pan-African financial institution, has long supported economic growth, financial inclusion, and entrepreneurship across the continent. With this renewed commitment, the bank aims to further enhance Gabon’s economic resilience by expanding financial access and fostering innovation-driven enterprises.
Advocating for Intra-African Trade and Investment
Earlier, Elumelu addressed policymakers, business executives, and investors at the inaugural Cameroon Economic Meeting in Yaoundé, where he underscored the critical role of entrepreneurship, infrastructure development, and financial inclusion in driving economic transformation.
He emphasized the importance of intra-African trade and investment, urging stakeholders to adopt policies that create an enabling environment for businesses to thrive.
This partnership between Elumelu, UBA Group, and the Gabonese government marks a significant milestone in fostering sustainable economic growth, empowering young entrepreneurs, and strengthening infrastructure in Gabon and beyond.
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