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The Time is Now to Invest in Africa and African SMEs, Tony Elumelu Tells Global Investors in Paris

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Tony O. Elumelu, CON, Founder, Tony Elumelu Foundation and Chairman, United Bank for Africa (UBA) with Bruno Le Maire, French Minister of Economy and Finance at the Invest for Growth in Africa Conference in France on October 30, 2019

Wednesday, October 30, 2019, Paris, France. Tony O. Elumelu, Founder of the Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa (UBA) and Heirs Holdings opened the “Ambition Africa” conference organised by the France Invest Africa Club in Paris, France.

As Elumelu delivered the opening address, he urged French investors to look to Africa for long term investment opportunities.

The French Minister of Economy and Finance, Bruno Le Maire, as he introduced Tony Elumelu to the audience stated that France could position itself and direct investment towards Africa to end the cycle of poverty and to accelerate development globally. He commended Elumelu’s stance on strengthening the SMEs in Africa to catalyse development. “We share the same ambition in Supporting African SMEs and entrepreneurs as this is essential for the economic development of Africa,” he said, referring to Elumelu’s passion to create wealth on the African continent.

Reiterating the stance to partner with Africa on long-term investments, Mr. Le Maire said “We will ensure that investments in Africa are sustainable, exemplary and environmentally friendly. We want to go fast, go quickly in the race against poverty and renunciation, throughout the continent”.

Tony Elumelu on his part stated “We need to do much better and be much smarter in channelling funds to emerging markets. These markets present huge opportunities – as well as risks for investors, but investors need to fulfil a critical need to catalyse and improve the economy. We salute companies like Total, Bouygues, Accor, Orange, and Bolloré as well as others who have accepted this challenge, but there is room for many more” he said.

Elumelu stressed the importance of private equity inflow into Africa, with a focus on investing in small and medium scale businesses, the lifeblood of the African economy. He stated that Africa has the youngest workforce in the world, with over 60% of its population below the age of 25. This he said was a potential demographic doom that could be turned around to become the continent’s greatest asset if the youths have jobs and economic opportunities.

According to him: “Africans do not need aid. Rather, our young people need investments’.

“Private equity is a force for positive development in Africa. We have a large youth population, who are eager and innovative. They are looking at solutions to problems in their communities but are hampered by the access to capital and investment, mentoring and training. When done right, this kind of investment can bring not just capital but can also strengthen job creation, corporate governance and help improve sustainable business practices”.

He cited the impact and growth rate of the beneficiaries of the Tony Elumelu Foundation as evidence of the potential of SMEs in Africa today. His Foundation has endowed $100 million dollars of his family wealth, to fund over 10000 African entrepreneurs in ten years.

Mr. Elumelu commended The French President, Emmanuel Macron’s initiatives for strengthening the relationship between France and Africa and concluded by inviting investors to consider investing in Africa for the long term.

“The key phrase here is long term investment – no one should come to Africa for short term gain. The time is now to invest in Africa. Private equity has to be part of it. We need it for all,” he concluded.

Time is Now to Invest in Africa and African SMEs, Tony Elumelu Tells Global Investors in Paris

Tony O. Elumelu, CON, Founder, Tony Elumelu Foundation and Chairman, United Bank for Africa (UBA) with Bruno Le Maire, French Minister of Economy and Finance at the Invest for Growth in Africa Conference in France on October 30, 2019

Wednesday, October 30, 2019, Paris, France. Tony O. Elumelu, Founder of the Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa (UBA) and Heirs Holdings opened the “Ambition Africa” conference organised by the France Invest Africa Club in Paris, France.

As Elumelu delivered the opening address, he urged French investors to look to Africa for long term investment opportunities.

The French Minister of Economy and Finance, Bruno Le Maire, as he introduced Tony Elumelu to the audience stated that France could position itself and direct investment towards Africa to end the cycle of poverty and to accelerate development globally. He commended Elumelu’s stance on strengthening the SMEs in Africa to catalyse development. “We share the same ambition in Supporting African SMEs and entrepreneurs as this is essential for the economic development of Africa,” he said, referring to Elumelu’s passion to create wealth on the African continent.

Reiterating the stance to partner with Africa on long-term investments, Mr. Le Maire said “We will ensure that investments in Africa are sustainable, exemplary and environmentally friendly. We want to go fast, go quickly in the race against poverty and renunciation, throughout the continent”.

Tony Elumelu on his part stated “We need to do much better and be much smarter in channelling funds to emerging markets. These markets present huge opportunities – as well as risks for investors, but investors need to fulfil a critical need to catalyse and improve the economy. We salute companies like Total, Bouygues, Accor, Orange, and Bolloré as well as others who have accepted this challenge, but there is room for many more” he said.

Elumelu stressed the importance of private equity inflow into Africa, with a focus on investing in small and medium scale businesses, the lifeblood of the African economy. He stated that Africa has the youngest workforce in the world, with over 60% of its population below the age of 25. This he said was a potential demographic doom that could be turned around to become the continent’s greatest asset if the youths have jobs and economic opportunities.

According to him: “Africans do not need aid. Rather, our young people need investments’.

“Private equity is a force for positive development in Africa. We have a large youth population, who are eager and innovative. They are looking at solutions to problems in their communities but are hampered by the access to capital and investment, mentoring and training. When done right, this kind of investment can bring not just capital but can also strengthen job creation, corporate governance and help improve sustainable business practices”.

He cited the impact and growth rate of the beneficiaries of the Tony Elumelu Foundation as evidence of the potential of SMEs in Africa today. His Foundation has endowed $100 million dollars of his family wealth, to fund over 10000 African entrepreneurs in ten years.

Mr. Elumelu commended The French President, Emmanuel Macron’s initiatives for strengthening the relationship between France and Africa and concluded by inviting investors to consider investing in Africa for the long term.

“The key phrase here is long term investment – no one should come to Africa for short term gain. The time is now to invest in Africa. Private equity has to be part of it. We need it for all,” he concluded.

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GBAJABIAMILA AND HIS BRAND OF LOYALTY By Ibrahim Musa

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GBAJABIAMILA AND HIS BRAND OF LOYALTY By Ibrahim Musa

GBAJABIAMILA AND HIS BRAND OF LOYALTY

By Ibrahim Musa

 

Rt. Hon. Olufemi Gbajabiamila’s loyalty finds its perfect echo in a timeless biblical truth: a man cannot serve two masters. This dedication, driven by principle rather than personal gain, stands as a testament to his strong character. Inspired by the unyielding devotion of biblical figures, Gbajabiamila’s commitment shines brightly. His steadfast resolve and faithfulness make him a pillar of reliability.

 

GBAJABIAMILA AND HIS BRAND OF LOYALTY
By Ibrahim Musa

In a world where loyalty is often tested, Gbajabiamila’s exemplary service sets a shining standard. Guided by faith and conviction, his selfless dedication inspires hope. The real Rt. Hon. Gbaja, as he is fondly called by close associates, can hardly be divorced from his loyalty to President Asiwaju.

While there exist several writings about the quintessential Rt. Hon. GBAJABIAMILA, writing about his loyalty to the President of the Federal Republic of Nigeria is particularly difficult and different, as it is not easy to attribute the brand of loyalty – short of senile attachment, not sycophancy, and not foolishness.

The difficulty in conjuring Rt. Hon. Femi’s loyalty to writing stems from the fact that it is very hard to find and convey its abstract aura experience to reality. It defies diction and description because it is deeper than words, yet it cannot be kept silent.

For over three decades, Gbajamialia’s love and unwavering loyalty existed in a rarefied set apart from such infractions as desperation, self-seeking, selfishness, self-glorification, self-preservation, and ego branding. Tradition and reverence have surrounded loyalty with an aura of ‘specialness.’ It has been given distinction, which is still continually encapsulated by specialists in the act of language and psychology.

Unfortunately, the kind of loyalty epitomized by Rt. Hon. Gbajabiamila defies all forms of specialist technical language, as it is inaccessible and off-putting, elitist and preserved. It is loyalty ingenue; Chief Femi perceives loyalty as an action from the heart. Although it may sound fey or simplistic, it represents the whole gamut of Gbajabiamil’s entire life, emotions, and experience; loyalty for him is an engagement.

Rt. Hon. Gbajabiamila Olufemi is loyal without excuses. He believes that to be successful in life, the most critical ingredient is loyalty. To the political juggernaut, loyalty keeps all relationships going and is exhibited from the beginning to the end. In life and more aptly, in the political world, there is a clarion call for loyalty, total loyalty, absolute and unequivocal. Trust in the ability of another to lead in the right direction brings about the fulfilment of life’s purpose.

Born on June 25, 1962, to the family of Chief Lateef Gbajabiamila in Lagos State, Olufemi Hakeem Gbajabiamila started his political life with his involvement in the election which saw Bill Campbell winning the Mayor of Atlanta. It can therefore be said that he started his political kindergarten from the founders and custodians of our democracy.

Upon Barrister Femi’s return to Nigeria in 2002, he joined the Alliance for Democracy (AD), to further ventilate his political aspirations. It was here that he met his protégé, mentor, and political associate, President Bola Ahmed Asiwaju Tinubu, GCFR, but then the Governor of Lagos State and leader of the Party. His dogged and unpretentious views and loyalty soon won the heart of Governor Bola Tinubu and also the minds and hearts of the people of Surulere 1, who pressured him into contesting for the post of House of Representatives representing Surulere 1 in 2003.

A philanthropist per excellent and defender of democracy, Chief Femi’s commitment to the electorates and loyalty to his Mentor saw his reelection thereafter for six consecutive terms without switching political parties. His firm stand and commitment to the Tinubu Political Ideology saw him and other lieutenants through the turbulent days of President Obasanjo’s Territorial acquisition for the People’s Democratic Party (PDP).

A vibrant, brilliant, and competent legislator, Chief Femi collaborated with others on President Tinubu’s team, consistently forming a formidable team. As core loyalists and ardent followers, wherever their masters went, they did. From Alliance for Democracy (AD) to Action Congress (AC), then All Progressives Congress, Rt. Hon. Gbajabiamila never shirked nor deterred, neither was his loyalty questionable.

A true manager of human and material resources, through an unequal act of selflessness and conscientiousness executive-legislative harmony, he was able to both win the .hearts and minds of his colleagues, maintain the independence of the Legislative Arm, and remain the eyes and ears of President Tinubu. Even as a Minority Leader and later Speaker of the Federal House of Representatives, Chief Gbajabiamila’s towering influence, growth, and political clout never diminished his loyalty, unflinching support, and dependence on his mentor but kept him on course, maintaining commitment to the political kingdom.

He strongly believes in the sacrifice Asiwaju has made for humanity and Nigeria and is therefore committed to following him through thick and thin. He cultivated Asiwaju’s friends and made his connections his pillar of strength and reliance, thereby remaining always an effective opposition, a chip off the old block, ideal characteristics of Bola Asiwaju Tinubu. He rejected honours and laurels that did not commit to the vision and ideals of Tinubu.

If Chief Gbajabiamila is a nationalist, it is because he learnt from Tinubu that it was the only way to Nigeria’s freedom. His passion for public service was inherited from his mentor. He drank and ate the Asiwaju’s spirit of nationalism and collective struggle. It is imbued, undisputable, irremovable, and unshaken, as his world revolves around it, undeterred and unmitigated. His unconditional loyalty and sacrifices are evident and unquestionably irrevocable.

Again, loyalty has paid. Surely loyalty has opened doors for him that arrogance will not have opened, bringing in love, reciprocal and mutual respect, progress, and the heart of the President and Commander-in-Chief of the Armed Forces. On June 14, 2023, Rt. Hon. Olufemi Hakeem Gbajabiamila resumed duty as the Chief of Staff to the President.

A position of honour, trust, and reward of untiring and unequivocal thirty years of loyalty. Together, Rt. Hon. Gbajabiamila has built national bridges, defended the President, and ensured that humanity benefits from Asiwaju’s administration. Together, he asks questions, makes opinions known on issues of national development and social justice, and challenges authorities without a witch-hunt, all to improve the process of governance and ensure a better and more functional Nigeria.

Undoubtedly, Gbaja has proved unequivocally, in many deliberate, forthright, and demonstrated ways, that he loves Nigeria just like the President loves Nigeria, and that he is committed to building the nation and the President.

Musa wrote this piece from Suleja, Niger State.

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Chief Allen Ifechukwu Onyeama: A Pillar in Nigeria’s Aviation Industry, Undeserving of Victimization

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Chief Allen Ifechukwu Onyeama: A Pillar in Nigeria’s Aviation Industry, Undeserving of Victimization

 

 

Chief Allen Ifechukwu Onyeama, the Chairman of AirPeace, stands as one of Nigeria’s most accomplished and hardworking entrepreneurs. His airline, AirPeace, has not only redifined the aviation landscape but has also provided immense relief to millions of Nigerians. With relentless determination and a vision to democratize air travel, Onyeama has grown AirPeace into a dominant force, one that competes directly with global airlines. Yet, despite his monumental contributions to Nigeria’s aviation sector, he is repeatedly subjected to scrutiny, victimization, and disparagement from foreign authorities and Western media. This ongoing attack on Onyeama is not just an attack on an individual but a blatant affront to the Nigerian aviation sector, and it calls for urgent action from all stakeholders.

At a time when the cost of air travel was skyrocketing, seemingly without bounds, it was AirPeace that stepped in to stabilize the market. Nigerians had been at the mercy of astronomical airfares, as foreign carriers monopolized major routes. The ripple effect was devastating, limiting the capacity of the average citizen to fly and stifling the growth of the nation’s aviation industry. However, AirPeace, under the astute leadership of Chief Onyeama, disrupted this narrative. By offering competitive pricing and expanding its domestic, regional and international reach, AirPeace provided Nigerians with an affordable and reliable alternative. The significance of this cannot be overstated—AirPeace became a symbol of healthy competition, lifting the industry and curbing exploitative practices by foreign carriers.

The success of AirPeace’s international routes, including the historic commencement of flights to London Gatwick, is a testament to its pivotal role in strengthening Nigeria’s bilateral air service agreements (BASA). The landmark push by Nigeria’s Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN, to secure favorable BASA routes would not have had the same impact without the involvement of AirPeace. The airline’s presence on international routes—especially with major destinations like London—challenged long-standing monopolies and helped reduce fares that had been skyrocketing. This development not only empowered the Nigerian consumer but also marked a significant victory for local airlines in a fiercely competitive global market.

Onyeama’s AirPeace is paving the way for other Nigerian airlines to capitalize on more BASA routes, unlocking a new era of international connectivity and competition. His contribution has been nothing short of revolutionary, a fact that should be celebrated rather than subjected to unwarranted attacks.

The repeated victimization of Chief Onyeama by U.S. authorities and the Western press appears increasingly orchestrated, raising suspicions that it is part of a larger agenda to destabilize Nigeria’s aviation sector. It is no coincidence that as AirPeace rises and disrupts the status quo, Onyeama faces intensified scrutiny. This situation should raise alarms for all Nigerians, especially those within the aviation industry.

This is not just Onyeama’s fight—it is a fight for the survival and autonomy of Nigeria’s aviation sector. At a time when the nation is striving to assert its place on the global stage, the attack on AirPeace, the closest entity Nigeria has to a national flag carrier, is an attack on the industry’s collective future. Let no one be mistaken—Chief Allen Onyeama’s plight is a battle for the soul of Nigerian aviation, and the fallout will affect not just AirPeace but hundreds of its employees and the broader economy.

If the authorities, regulators, and stakeholders within the aviation sector fail to rally around Onyeama now, it will be a monumental loss for the country. It is a moment that demands unity, not division. The future of Nigerian aviation depends on the survival of its biggest players, and Chief Onyeama, as the Vice President of the Airline Operators of Nigeria (AON), embodies the aspirations and ambitions of countless Nigerians. His downfall would be a blow not only to AirPeace but to every stakeholder who believes in the growth and competitiveness of the Nigerian aviation sector.

If I were a member of the AON, I would not sit idly while one of our most illustrious members faces such unfair persecution. The fact that Onyeama has built one of the largest employers in Nigeria’s aviation industry speaks volumes about his dedication, vision, and capability. Allowing him to fall victim to external forces is tantamount to delivering a slap to the entire aviation community.

Defending Our Own: A Matter of National Pride
We must ask ourselves: if we do not defend our own, who will? Chief Allen Onyeama’s contributions to Nigeria’s aviation industry should inspire pride, not condemnation. AirPeace is the pride of Nigeria’s aviation sector, representing our collective ambition to compete on the global stage. The airline is a symbol of our capacity to build and sustain world-class businesses that challenge global giants, providing critical services at home and abroad.

This is the time for the Nigerian government, aviation regulators, and all industry stakeholders to stand together. We must reject any agenda—whether foreign or domestic—that seeks to tarnish the achievements of one of our finest entrepreneurs. The aviation roadmap for Nigeria, painstakingly dreamt by the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN and being charted by Chief Onyeama and others, must not be derailed by baseless accusations and targeted victimization.

The Time for Action Is Now
Chief Allen Onyeama and AirPeace represent the future of Nigeria’s aviation industry. His plight is not just his own but a call to action for all Nigerians. The stakes have never been higher, and this is a turning point in the history of Nigerian aviation. If we do not act now, we risk allowing foreign interests to dismantle the progress we have worked so hard to achieve.

The time to eschew bitterness and rally around our own is now. Let us not allow external forces to sow division, or as the saying goes, “smear our white clothes with blood.” We must come together in defense of Chief Onyeama and AirPeace. The survival of the Nigerian aviation industry depends on it.

Chike Stanley, a concerned aviation investor writes from Abuja.

 

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EVELYN JOSHUA ROUSES APOSTOLIC AGE REVIVAL IN ARGENTINA

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EVELYN JOSHUA ROUSES APOSTOLIC AGE REVIVAL IN ARGENTINA

BY DARE ADEJUMO

 

The face of apostolic revival is changing in Argentina. A new wind of change, blowing across the entire Latin America’s with the CRUSADE of Pastor Evelyn Joshua of the Synagogue Church Of All Nations SCOAN just held at PORTAL DEL CIELO in Resistencia, CHACO in Argentina
Portal Del Cielo (door of heaven) as the name of the venue implies became symbolic for the new birth in which over 80’000 predominantly white people that attended the two-day power-packed revival were held spell bond!
Obviously there must have been some intuitive awakening in the people. Twenty four hours before the event, scores of people were already arriving at the premises, spending the night under the outside canopy not minding the 19 degree centigrade of the cold weather gripping the jugular of the land as they couldn’t access the venue till the day of the event.
The expectation is palpably high. The crowd was unimaginable. The venue was filled to the brim. The surrounding open fields, of about five acres of land, apart from the inside bowl suddenly became an emergency additional overflow for a myriad of people who could neither find a place to sit nor stand inside the main bowl.
Pastor Evelyn Joshua had earlier in her message told the audience about God’s good mission of love for mankind and the wind of change that was about to blow in the country. Touched by the enthusiasm of the crowd who were ardently seeking the face of God, Pastor Joshua assured them that God would never disappoint anyone who genuinely put his or trust in Him.
“A time for God is a time for renewal. The glorious hour for the turn around in your challenges has come. Get ready for God’s shower of blessings upon your lives and the land”. Pastor Evelyn Joshua stated.
Quoting profusely from the books of Hebrew, Romans, John, Mark and Psalms, the woman of God enjoined the people to yield their hearts to the words of God and make His words the standard for their lives. “You must maintain a close relationship with God and you must be of unconditional love and active faith to flow in God’s will without which you cannot achieve anything from God” she further stated, adding that “without a genuine love, God can never entrust anyone with His power”.
As expected the crusade was a dream fulfilled for the people who were yearning for deliverance, healing, blessings and salvation. In a reminiscence of the penticost, the venue was turned upside down with the rainfall of deliverance for the souls under the demonic grip of Satan, just as healings were taking place simultaneously from several people who were there with various afflictions, diseases including mental cases, paralysis, those in crutches and all forms of challenges whether marital, drug addiction, sexual pervasion, suicidal spirits among others. Several people were violently rolling on the floor, uncountable demonized people were manifesting just as many others were vomiting all evil things in their stomachs with tumultuous and cacophonic noises! Some were energetically hissing or mewing; barking or yelling with all orgies of hubble-bubbles, hullabaloos with ferociously terrifying countenances!
It was really a tough time for SCOAN’S ushers who were almost overwhelmed by the crowd of satanic victims arrested by the Holy Spirit.
Several people from the neighbouring countries such as Chile, Paraguay, Brazil, Uruguay, Colombia, among others were visibly present.
Hear pastor Willy Gancia with three other pastors from Brazil: “we are happy to witness this move of God here in the hand of Pastor Evelyn Joshua. We thank God for the grace upon her life. We all knew Prophet TBJOSHUA as a true man of God for we witnessed and had direct experience with him while on earth. Our joy is full. This is a new beginning for the land of Argentina. Thank God that we are partaker of the blessings in this crusade”.
To Fredi Marcel Bianchi from Uruguay: “’we are plenty here from our country to partake of the blessings in this crusade. We know that God is with this ministry of TBJOSHUA and you can see that enormous grace upon Pastor Evelyn Joshua. We in Uruguay don’t want to be passed by. The presence of God here is real; for we can see the moves of the Holy Spirit”.
Monica Yopice, a leader from Chile: “we are quite familiar with this ministry and we know all the devices of Satan against it. We are grateful to God that His holy name has continued to be glorified in SCOAN. Blessed are they that have their eyes clearly open to see God’s presence with the ministry. We are here for the blessings because in every occasion such as this, the blessings of God upon the people cannot be underestimated. We are grateful to God for being here”.
Argentines were particularly happy for the crusade experience as such had never occurred in their land. It was like a national festival as people came from all nooks and crannies for the crusade. Christians and none christians in their thousands were in the crusade. Residents of Resistencia were particularly elated for hosting the crusade which has brought a lot of transformation to the lives of the people.
Guillermo Alejandra a prominent community leader: “This is a great event in our life here. What we could see happening practically was beyond explanation. I am happy to witness the crusade. It’s a blessing for the Argentines”.
A medical practitioner, Dr Elisa Mbango from Angola living in BuenosAires: “I flew down here to partake in this crusade. It’s that directed me to come. God is with Evelyn Joshua. I know coming to attend is a blessing for me”.
A?Pastor Juan Juorez: has this to say: “God is awesome. I am happy this is happening in our land. I thank God for showing us this great mercy. What a great blessing to our land especially at this time.
The Argentine Republic is a country in South America with an area of 2’780’400km. Second largest country in South America after Brazil; the 4th largest in America and the 8th in the world Argentina has its own unsalutory enormous shares in the economic and social problems confronting the world today.
Many dignitaries from all walks of life attended the crusade including Carmel Britto, President of the CHACO Province Chamber of Deputies, Jorge Gomez, a government minister, Roy Nikishch, Mayor of Resistencia, Gracias Pedro Luis, Director or Worship and Affairs, Fernando Tometo, Commissioner of Police, Veronica Liliana Mazzaroly, Minister of Tourism, Lt Col Santiago Villagra, Pablo Mujica, Secretary of Human Development, Javier Pinero, Director of Worship Affairs in Resistencia, Pastors Robert Acosta, Susan Perez, Jorge Ledesma and Alicia Ladesma among several others.

A predominantly Christian country but where the apostolic fire has been in abeyance, Pastor Evelyn Joshua has rekindled hope and lightened the fire of Christian revival not only in Argentina but the entire Latin America’s to the people’s delight. It’s the dawn of a new Christian era.

EVELYN JOSHUA ROUSES APOSTOLIC AGE REVIVAL IN ARGENTINA

BY DARE ADEJUMO

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