Tony Elumelu: King of African Banking on the Move Again
HighLife
Intimidation in the corporate world is very different from intimidation in politics. For the most part, the former is generally more constructive but also has implications that reach further into the future than in the case of the latter. As Tony Elumelu is on the move again, this time to the Middle East, his peers and rivals in the African business bloc must be sighing with resignation at his unmatched vision and cojones.
The news headlines have been in a frenzy over Elumelu’s intention to expand the operations of his United Bank for Africa (UBA) to the Middle East, starting in Dubai. Knowing that Elumelu is not one to put his mouth where his money is absent, it is certain that the countries that border the Persian Gulf will soon bear witness to the genius and unyielding business character.
Earlier, Elumelu (as UBA’s Group Chairman) told the public that it was time to consolidate the expansion of the multinational bank by dropping a branch in Dubai. The Heirs Holdings and Transcorp man said that leaving the Middle East out of the bank’s expansion efforts would be a great injustice. What he did not say was that UBA’s new branch in Dubai would help redefine banking in the Middle East, introducing Elumelu’s timeless principles for effective and efficient banking.
The new branch was unveiled on Thursday, July 14, 2022, with Elumelu and his team of visionary banking executives present. The launch took place at the Dubai International Financial Centre (DIFC), cementing UBA’s first foray into the banking sector in the Middle East.
With the new branch in Dubai, Elumelu has once again shown that there is more to a successful business than just profit. His philosophy of continuous and deliberate growth can only be described as historic at this point, especially considering how many people it is inspiring to also look beyond profit-making and instead focus on impact-making. All in all, the Heirs Holdings man remains the unrivalled king of African banking.
