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

Tony Elumelu e1687808422335
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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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Sanya Onayoade

Continental Editor, North America

SANYA ONAYOADE is a graduate of Mass Communication and a Master of Communication Arts degree holder from the University of Ibadan. He has attended local and international courses on Media, Branding, Public Relations and Corporate Governance in many institutions including the University of Pittsburgh; Reuters Foundation of Rhodes University, South Africa and Lagos Business School. He has worked in many newspaper houses including The Guardian and The Punch. He was the pioneer Corporate Affairs Manager of Odua Telecoms Ltd, and later Head of Business Development and Marketing of Nigerian Aviation Handling Company (NAHCO Plc).

He has led business teams to several countries in the US, Asia and Europe; and was part of an Aviation investment drive in West Africa. He has also driven media and brand consultancy for a few organizations such as the British Council, Industrial Training Fund, PKF Audit/Accounting Firm and Nigeria Stability and Reconciliation Programme. He is a Fellow of Freedom House, Washington DC, and also Fellow of Institute of Brand Management of Nigeria. Sanya is a member of Nigerian Institute of Public Relations (NIPR), Advertising Practitioners Council of Nigeria (APCON) and Project Management Institute (PMI). He is a 1998 Commonwealth Media Awards winner and the Author of A Decade Of Democracy.
Morak Babajide-Alabi

Morak Babajide-Alabi

Continental Editor, Europe

Morak Babajide-Alabi is a graduate of Mass Communication with a Master of Arts Degree in Journalism from Napier University, Edinburgh, United Kingdom. He is an experienced Social Media practitioner with a strong passion for connecting with customers of brands.

Morak works as part of a team currently building an e-commerce project for the Volkswagen Group UK. Before this, he worked on the social media accounts of SKODA, Audi, SEAT, CUPRA, Volkswagen Passenger Cars, and Volkswagen Commercial Vehicles. In this job, he brought his vast experience in journalism, marketing, and search engine optimisation to play to make sure the brands are well represented on social media. He monitored the performance of marketing campaigns and data analysis of all volumes of social media interaction for the brands.

In his private capacity, Morak is the Chief Operating Officer of Syllable Media Limited, an England-based marketing agency with head office in Leeds, West Yorkshire. The agency handles briefs such as creative writing, ghostwriting, website designs, and print and broadcast productions, with an emphasis on search engine optimisation. Syllable Media analyses, reviews, and works alongside clients to maximise returns on their businesses.

Morak is a writer, blogger, journalist, and social media “enthusiast”. He has several publications and projects to his credit with over 20 years of experience writing and editing for print and online media in Nigeria and the United Kingdom.

Morak is a dependable team player who succeeds in a high-pressure environment. He started his professional career with the flagship of Nigerian journalism – The Guardian Newspapers in 1992 where he honed his writing and editing skills before joining TELL Magazine. He has edited, reported for, and produced newspapers and magazines in Nigeria and the United Kingdom. Morak is involved in the development of information management tools for the healthcare sector in Africa. He is on the board of DeMiTAG HealthConcepts Limited, a company with branches in London, Lagos, and Abuja, to make healthcare information available at the fingertips of professionals. DeMiTAG HealthConcepts Limited achieved this by collaborating with notable informatics companies. It had partnered in the past with Avia Informatics Plc and i2i TeleSolutions Pvt.

Out of work, Morak loves walking and also volunteers on the board of a few UK Charity Organisations. He can be reached via http://www.syllablemedia.com
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Ademola Akinbola

Publisher/Editor-in-Chief

Brief Profile of Ademola Akinbola

Ademola AKINBOLA is an author, publisher, trainer, digital marketing strategist, and a brand development specialist with nearly three decades of experience in the areas of branding, communication, corporate reputation management, business development, organizational change management, and digital marketing.

He is the Founder and Head Steward at BrandStewards Limited, a brand and reputation management consultancy. He is also the Publisher of The Podium International Magazine, Ile-Oluji Times, and Who’s Who in Ile-Oluji.

He had a successful media practice at The Guardian, Punch and This Day.

He started his brand management career at Owena Bank as Media Relations Manager before joining Prudent Bank (now Polaris Bank) as the pioneer Head of Corporate Affairs.

The British Council appointed him as Head of Communication and Marketing to co-ordinate branding and reputation management activities at its Lagos, Abuja, Kano and Port Harcourt offices.

In 2007, he was recruited as the Head of Corporate Planning and Strategy for the Nigerian Aviation Handling company. He led on the branding, strategic planning and stakeholder management support function.

His job was later expanded and redesigned as Head of Corporate Communication and Business Development with the mandate to continue to execute the Board’s vision in the areas of Corporate Planning and Strategy, Branding and New Businesses.

In 2010, he voluntarily resigned from nacho aviance to focus on managing BrandStewards, a reputation and brand management firm he established in 2003. BrandStewards has successfully executed branding, re-branding and marketing communication projects for clients in the private and public sectors.

Ademola obtained a M.Sc. Degree in Digital Marketing & Web Analytics from Dublin Institute of Technology in 2016, and the Master of Communication Arts degree of the University of Ibadan in 1997. He had previously obtained a Higher National Diploma (with Upper Credit) in Mass Communication from Ogun State Polytechnic, Abeokuta.

He has published several articles and authored five management books.

He has benefitted from several domestic and international training programmes on Brand Management, Corporate Communications, Change Management and Organizational Strategy.
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