One of Africa’s respected foremost entrepreneurs and owner of frontline business conglomerates, Tony Elumelu, and his wife Dr. Awele Elumelu, have been named among the 2026 TIME100 Philanthropy Honourees by TIME Magazine.
Elumelu is the Chairman of the United Bank for Africa (UBA) and Transcorp Group, and founder of the Tony Elumelu Foundation (TEF).
The recognition, announced on Thursday, May 14, 2026, highlights global philanthropic leaders driving measurable impact in communities around the world.
The Elumelus were honoured for their work through the Tony Elumelu Foundation, which has become one of Africa’s most influential entrepreneurship and economic empowerment platforms.
Reacting to the recognition, the Foundation described the honour as a validation of its mission to build African prosperity through entrepreneurship.
The Foundation stated: “I am pleased to announce that our Founder, Tony O. Elumelu, CFR, and Co-Founder, Dr. Awele V. Elumelu, OFR, have been named among the 2026 TIME100 Philanthropy Honourees by TIME Magazine, in recognition of their contribution to advancing entrepreneurship, economic empowerment, and philanthropy across Africa through the Tony Elumelu Foundation.”
It added that the recognition reflects the global relevance of entrepreneurship-led development, particularly in a period of economic uncertainty and geopolitical shifts.
The statement further noted that the honour reinforces Africapitalism, the development philosophy championed by Tony Elumelu, which promotes private-sector-led economic transformation across Africa.
This latest recognition adds to earlier global acknowledgements from TIME Magazine, including Elumelu’s inclusion in the 2020 TIME100 list of the world’s most influential people and the TIME100 Impact Award received in 2022.
Since its establishment in 2010, the Tony Elumelu Foundation has supported entrepreneurship development across Africa at scale.
The Foundation disclosed that more than 2.5 million young Africans have benefited from training via its digital platform, TEFConnect, adding that over $100 million has been disbursed in seed capital to more than 27,000 entrepreneurs across all 54 African countries.
According to the organisation, these entrepreneurs have collectively generated about $4.2 billion in revenue and created over 1.5 million jobs, further stating that its interventions have lifted 2.1 million Africans above the poverty line and impacted over 4 million households.
The Foundation also said 46 per cent of beneficiaries are women, reflecting its commitment to inclusive economic empowerment.
Elumelu, who also chairs Heirs Holdings, remains one of Africa’s most influential advocates for private-sector-led development.
Dr. Awele, a physician and co-founder of the Foundation, continues to play a central role in its healthcare, empowerment, and social impact programmes.
The 2026 TIME100 Philanthropy recognition further cements the Elumelus’ position in global conversations around entrepreneurship, philanthropy, and Africa’s economic transformation.
Congratulating them, Chief Executive Officer of Kristina Reports, Godswill Jumbo described the recognition speaks to the strident efforts and tremendous resources he has invested in supporting young people realize and accentuate their aspirations and careers.
He noted that thousands of young people are working across his various businesses just as the Tony Elumelu Foundation has thrown many young entrepreneurs, pointing out that this is no mean feat, thanking Time Magazine for recognizing one of Africa’s greatest entrepreneurial mentors.