Tony O. Elumelu, C.F.R., Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, has reiterated the critical role of peace and security in driving Africa’s economic transformation. During a recent visit to Ethiopia, Elumelu underscored the necessity of stability for fostering business growth, investment, and prosperity across the continent.
As part of this commitment, Africa’s Global Bank, UBA Group, has pledged $500,000 to the African Union (AU) Peace Fund, reinforcing its dedication to ensuring a secure future for Africa. According to Elumelu, peace is not merely an aspiration but a fundamental prerequisite for sustainable development.
“The AU Peace Fund plays a crucial role in conflict resolution, mediation, and securing a stable future for Africa,” Elumelu stated. “Without peace, there can be no progress. Our commitment at UBA Group extends beyond banking—we invest in Africa’s future, ensuring that businesses, communities, and nations thrive.”
Elumelu emphasized that economic growth and security go hand in hand, noting that a conducive environment is essential for entrepreneurs to flourish and for youth to aspire to greater achievements. He urged businesses, governments, and individuals to recognize their role in fostering stability.
UBA Group has consistently demonstrated its commitment to Africa’s progress through various initiatives. During the COVID-19 pandemic, the bank contributed $14 million towards relief efforts, supporting healthcare systems and vulnerable communities. Its latest support for the AU Peace Fund is another step in its long-standing mission to uplift lives, empower businesses, and drive sustainable development.
“Development will come with peace. Every individual, business, and organization must play their part. We are honored to stand with the African Union on this journey,” Elumelu concluded.
As Africa continues to navigate socio-economic challenges, Elumelu’s call for peace-driven growth resonates as a clarion call for collective action, ensuring a stable and prosperous future for the continent.
