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5 Key Take Aways From Tony Elumelu’s New Year Note to African Entrepreneurs

Anthony Onyemaechi Elumelu, popularly known as Tony Elumelu, is an entrepreneur of excellence. The Nigerian economist was named on Time’s 2020 list of the world’s top 100 most influential people.

Tony Elumelu is the Chairman of Transcorp, Heirs Holdings, and the founder of the prestigious Tony Elumelu Foundation. For many reasons, he is one of the most sought-after entrepreneurs in Africa, and young entrepreneurs in the continent tend to relate well with his success model, making him a role model and mentor.

As is his tradition for many years now, Mr Elumelu always pens down a New Year’s note to entrepreneurs across the continent – many of whom he knows to look up to him for inspiration and motivation. The year 2023 was no different, and the business mogul cum philanthropist penned down a note to African entrepreneurs.

Listed below are 5 key takeaways from Tony Elumelu’s 2023 New Year note to African entrepreneurs. Check them out.

Even Elumelu Admits that 2022 Was Not an Easy Year

From his opening statement, the successful business mogul assured everyone that we are all in the same boat. He spoke about the frightening global prices and threatening global events. As a reassuring leader, he called for increased confidence and determination despite the challenges.

“We would all be forgiven for giving up, dialing down our entrepreneurial dreams, maybe choosing an easier path,” he said. “But I know you can take the challenges, take the long view, and show the resilience that all of us born in Africa inherit.”

He is Always Willing to Share His Life Lessons

One aspect of Tony Elumelu that many entrepreneurs and youths alike admire is his willingness to share his life’s lessons. It is not every day you see a successful billionaire open up on his life’s journey – including the struggles and successes. 

Well, for Elumelu, his life should motivate others – and this is why he has such a large following on social media. He is good at carrying people along in his day-to-day activities, giving hope that an ordinary man can become successful.

Elumelu is Proudly African

There is one unique thing about many billionaires and successful entrepreneurs in Africa today – they are graduates of Harvard or Oxford. Well, not Tony Elumelu – he is an alumnus of Ambrose Alli University, Ekpoma, and the University of Lagos. The most interesting part of this all is that he is proud to be African through and through. “I was born in Africa, raised in Africa, studied in Africa, worked in Africa, and achieved success in Africa,” he said in his note. There is no doubt that this will be great motivation to many African entrepreneurs who had thought that not having an international degree from an Ivy League college was detrimental to their success.

2023 Tony Elumelu Foundation Entrepreneurship Programme is Open

For the past twelve years, entrepreneurs across Africa have continued to look up to the Tony Elumelu Foundation Entrepreneurship Programme, which provides substituting hand-outs for self-reliance by offering $5,000 non-refundable seed capital to entrepreneurs across the continent. 

The program also offers world-class business management training and mentorship opportunities for successful entrepreneurs. In his New Year note, the serial entrepreneur announced that the 2023 application was open – something that would undoubtedly excite entrepreneurs across the globe.

Calls for Government Partnerships

Just like every entrepreneur on the continent, Tony Elumelu recognizes the impact of a good business environment that can only be achieved through government intervention. 

“We wanted to show we are truly pan African, highlight the role governments and policy makers must play in sharing, indeed lightening, your burden,” he said. He also announced the determination of his foundation to partner “more and more with African governments to promote entrepreneurship” within the continent.

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

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