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Tony Elumelu Celebrates 2 Milestones



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Master Entrepreneur, Tony Elumelu is celebrating two milestones.

Two of the high-impact entities with his fingerprints all over their success stories just notched major records.

The Pan-African financial service group operating in 20 countries across the continent, the United Kingdom, France, and the UAE, and is the only African bank with a commercial deposit-taking presence in the United States is celebrating its 75th anniversary while Transcorp Power, the subsidiary of one of Nigeria’s largest quoted conglomerates – Transcorp – just announced impressive financial performance with gross earnings of N142.1 billion, a 57.3% increase at its 11th Annual General Meeting (AGM), the first since the Company went public via a listing by introduction of its shares, on March 04, 2024.

The king of commerce is the Chairman of United Bank for Africa and Transcorp Group.

In a public reaction to the milestone, the champion across different endeavors including shared prosperity in Africa wrote…

“Building to Last: Celebrating Milestones and Transformation

Yesterday (Monday, May 20, 2024) marked a very proud moment in our journey of growth, value creation, and transformation.

Celebrating UBA Group’s 75th anniversary and Transcorp Power’s Annual General Meeting, the first since listing on the Nigerian Exchange.

These are two significant milestones in our journey of building lasting legacies and upholding exceptional corporate governance.

Creating African institutions, driven by African excellence.

UBA at 75: A Legacy of Trust, Excellence and Global Impact

From modest beginnings on Lagos Island, UBA is now a global financial powerhouse, present in 24 countries and four continents. 

 For 75 years, UBA has been at the forefront of delivering exceptional service and driving global impact.  

Our dedication to building people, businesses, communities and delivering innovative products and services to our customers globally is unwavering, establishing us as a leading financial institution across Africa and beyond. 

We are Africa’s Global Bank.

“Today, UBA proudly serves over 45 million customers through our dynamic channels, including over 350,000 POS terminals, 2,000 ATM terminals, 1,000 business offices, and 20 million cardholders.  With a workforce of over 25,000 and the largest graduate programmes in Africa, we uphold the pillars of stability and excellence that define our legacy.

“Notable firsts include:

1. First in Nigeria banking industry to be Listed on the NGX.

2. First and only African bank to acquire and operate a deposit taking Federal Licence in the USA.

3. First Nigerian bank to operate in other African countries.

4. The first to install ATMs in Nigeria.

5. First female Board Chair in Nigeria.

6. First Mobile Banking proposition in Nigeria.

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Transcorp Power:  Illuminating Africa’s Future

Transforming the power sector exemplifies Africapitalism in action, highlighting our role in driving Africa’s growth.  Transcorp Power, a cornerstone of Nigeria’s economy, provides essential energy to homes, schools, hospitals, and industries. At the Annual General Meeting today, we released our financial statement, recording gross earnings of N142.1 billion – an outstanding 57.3% increase compared to the previous year.

Transcorp Power has become the fourth highest capitalised stock on the Nigerian Stock Exchange, a testament to our shareholders’ belief and confidence in our value. 

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Our success in finance and power is rooted in our commitment to strong corporate governance. By prioritising transparency, accountability, and ethical practices, we ensure sustainable growth and deliver exceptional value to our stakeholders.

As we celebrate these milestones, our vision remains clear: to improve and transform lives across Africa.  We know the future holds endless possibilities, and we are ready to seize them.”

The founder of the philanthropy that has groomed over 20, 000 young entrepreneurs across Africa, created over 400,000 direct and indirect jobs and is contributing significantly to Africa’s economic growth – Tony Elumelu Foundation (TEF) – shared the narrative on social media.