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Tony Elumelu reveals the ‘secret principles’ behind his very successful entrepreneurial career

Tony Elumelu e1687808422335

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Abass Adeniran

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  • Tony Elumelu has shared the fundamental principles that have guided his entrepreneurial journey, emphasizing the importance of discipline, hard work, tenacity, etc.
  • He acknowledged the challenges and complexities of the entrepreneurial path but encouraged aspiring entrepreneurs to press forward without fear.
  • Recognized as a champion of African Capitalism, Elumelu’s instrumental role in UBA’s success as a leading Pan-African bank and its dominance in the e-business sector further exemplify his principles in action.

Nigerian businessman and Chairman of United Bank of Africa, Tony Elumelu, has divulged the standing principles that have guided his entrepreneurial journey over the years.

Speaking during the just concluded Viva Tech conference in Paris, the 60-year-old business emphasized the significance of maintaining focus, resilience, and a determined outlook when it comes to both life and business. Elumelu said:

  • “I want to say that discipline, hard work, tenacity, resilience, and focus are extremely important for business success. I believe we have tech entrepreneurs in this room and even those who are not tech entrepreneurs, these principles apply to everyone. My career in my journey, it’s been a journey of discipline, focus, and making short-term sacrifices for a better future. Working very hard and being extremely resilient.”

Overcoming challenges ahead

Speaking directly to aspiring entrepreneurs, Elumelu acknowledged the complexities and challenges inherent in the entrepreneurial path. He described it as a tough journey, yet he encouraged entrepreneurs to press forward without fear. He emphasized the importance of resilience, urging individuals to persist even when faced with setbacks.

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  • “Because I say to entrepreneurs that the journey is not linear, it is tough. It is a difficult journey, but you can’t stop. You can’t be scared; you can’t be put off. 
  • “You have to be resilient at all times. At times it can be challenging and daunting. You drop, you pick up, and you start again. Keep your eyes on the long run. Just know that most things- so long as you are determined and tenacious, things will come through,” He concluded.

What you should know

Tony Elumelu is widely recognized as a champion of African Capitalism, a concept that promotes long-term private sector investments as catalysts for economic prosperity and social development in Africa.

In previous reports, Nairametrics highlighted Elumelu’s instrumental role in consolidating UBA’s position as a leading Pan-African bank. The bank has facilitated intra-African and international trade, cross-border payments, and remittances, making it a preferred partner for distributing donor funds across the continent.

According to another report by Nairametrics, UBA accounted for an impressive 25.68% of Nigeria’s total e-business income, amounting to a substantial sum of N78.946 billion in 2022. This marked a 22.21% increase from the previous year, solidifying UBA’s prominent position in the e-business sector.

Tony Elumelu’s insights and achievements serve as an inspiration for aspiring entrepreneurs, reaffirming the principles of discipline, resilience, and unwavering focus as key ingredients for success in the business world.

Source: Nairametrics

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