Chairman, United Bank for Africa (UBA) Plc and Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, has reaffirmed his commitment to the development of Gabon’s economy development. He disclosed this at a high-level meeting with the President of Gabon, Brice Oligui Nguema recently.

Elumelu who was on official visit to Presidential Palace in Libreville, Gabon on the invitation of Ngueman discussed key strategies to enhance infrastructure development and foster entrepreneurship in the country.

During the discussions, both leaders underscored the importance of strategic investments in infrastructure as a catalyst for economic growth and job creation, while Elumelu, a strong advocate of Africapitalism, emphasised the role of private sector partnerships in driving sustainable development.

Elumelu said: “The President of Gabon is committed to ensuring the development of infrastructure in Gabon, and I, as an African and an African investor, support countries, leaders, and companies that want to invest and create jobs for young people.”

“As the founder of TEF, which supports young Africans, I am pleased to work alongside leaders who embrace and bring together African youth. His Excellency, the President, was kind enough to share his vision for assisting young Gabonese people, and he asked for my support.”

“I made a promise that UBA Group will support infrastructure development projects in Gabon, and TEF will provide young entrepreneurs with non-refundable seed funding of $5,000 each year.”

President Nguema said: “Gabon is poised for a new era of economic transformation, and partnerships with leading African investors like Tony Elumelu are key to accelerating our progress.”

“Our focus is on creating opportunities for young people and strengthening the nation’s infrastructure, and we welcome collaborations that align with this vision.”

UBA Group, a leading Pan-African financial institution, has long supported economic growth across the continent through strategic infrastructure investments and financial empowerment initiatives. With this renewed commitment, the bank aims to enhance financial inclusion and create sustainable opportunities for local entrepreneurs, further strengthening Gabon’s economic resilience.

This collaboration marks a significant step in fostering an environment that promotes innovation, financial independence, and economic prosperity in Gabon.