Tony Elumelu's UBA philanthropy
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News - October 6, 2022

How Tony Elemelu’s UBA is Breaking Down Barriers with Philanthropy

Tony Elumelu, the United Bank for Africa (UBA) founder, is at the forefront of promoting philanthropy activities in Africa. While Tony Elumelu’s foundation promotes entrepreneurship, the UBA foundation continues the philanthropy activity by sponsoring brilliant African secondary school minds into any African University.

The act of giving earned the UBA Foundation a leadership award in Corporate Social Responsibility at the 10th anniversary of the Marketing Edge brands and advertising excellence awards.

Despite the foundation’s activities that have helped bridge educational barriers in Africa, Bola Atta, the foundation’s Chief Executive Officer (CEO), believes there is still a lot to be done. She said, “There is a lot of work to be done across the African continent to improve lives, and we are doing this one step at a time and in different countries across the geography where the United Bank for Africa operates.

It is fundamental for people and organisations to give back. It is also very African to nurture one’s communities and uplift others around you. So we do what we do with a lot of passion and focus on developing and nurturing.”

In recognition of their contribution to educational growth in Africa, she announced, “The start of a new academic year, the 2022 edition of the National Essay Competition, has commenced, and we are increasing the prizes by as much as 40%.”


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The UBA Foundation

The UBA Foundation, an initiative of the United Bank Africa, has been promoting education in Africa through its different activities, such as the annual National Essay Competition, Read Africa; Each Teach One; and the Food bank.

With nine years of execution, the National Essay Competition has helped hundreds of students fulfil their educational dream. This has seen Tony Elumelu’s chaired company, UBA, promote education and give opportunities to African children to dream through its philanthropy activity every year.

This year is not exempted with the prizes increased by 40%. The 2022 National Essay Competition is ongoing and will end on October 14, 2022. With the increase in the standard of living, the prizes to be won were increased by 40%.

Compared to the N3.5 million in 2021, the first prize winner will receive N5 million to study at any African University; the second prize, N3 million from N2.5 million and the third prize, N2.5 million from N2 million.

Tony Elumelu Foundation (TEF)

Tony Elumelu, individually and through UBA, has stayed true to his beliefs in philanthropy. TEF’s website says, “We are the leading philanthropy empowering young Africans across all 54 African countries.” With this mantra, he has helped reduce the limitations affecting African entrepreneurs.

Elumelu’s move was inspired by his struggle in the early days. He said, “As an entrepreneur myself, I understand what it feels like to yearn for a lifeline, to hope for a ‘big break’, to look forward to enjoying some luck.”

His mission to fulfil this vision has seen him partner with organisations such as UN Capital Development Fund (UNCDF). In September 2022, Tony Elumelu Foundation and the UN Capital Development Fund (UNCDF) signed an agreement to support youth entrepreneurship in Africa, specifically focusing on historically underinvested areas within African frontier markets.


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