Tony Elumelu Reflects on 12-Year UBA Chairmanship, Celebrates Legacy of Building Africa's Global Bank

Business leader and philanthropist Tony Elumelu has announced that he will step down as Chairman of the Group Board of United Bank for Africa (UBA) on August 21, 2026, bringing to a close a remarkable 12-year tenure as chairman and decades of association with one of Africa's leading financial institutions.

In a farewell message titled "Celebrating an African Institution: My Farewell from UBA," Elumelu reflected on the vision that guided his leadership, emphasizing that enduring institutions—not individuals—are the true drivers of sustainable development across Africa.

According to him, while many view Africa as a collection of separate markets, he has always believed in the continent's collective potential. He argued that Africa's greatest challenge is not a lack of talent but a shortage of strong institutions capable of outlasting generations of leaders.

Elumelu said his primary objective was to build an institution that would connect Africa to itself and the world by supporting businesses, empowering entrepreneurs, facilitating trade and investment, assisting governments, rewarding shareholders, and transforming lives.

He noted that under his leadership, UBA evolved from a Nigerian bank into what he described as "Africa's Global Bank," now serving more than 50 million customers across 20 African countries and operating on four continents.

Describing the achievement as a collective success, Elumelu credited the bank's growth to the dedication of its employees, management team, board members, customers, regulators, shareholders, and strategic partners who shared the vision of building a world-class African financial institution.

As part of the leadership transition, Elumelu announced the appointment of Mr. Emmanuel N. Nnorom as the next Chairman of UBA, expressing full confidence in his ability to lead the institution into its next phase of growth. He urged shareholders, customers, partners, and members of the UBA family to extend the same trust and support to the incoming chairman.

Concluding his message, Elumelu described his departure not as an end, but as the beginning of another chapter in UBA's journey, expressing optimism that the institution will continue to strengthen its position as a leading force in Africa's financial sector while advancing the continent's economic development.

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