The President of the Republic of Gabon, Brice Nguema, has conferred the country’s highest honour, the Commander in the National Order of Gabonese Merit, on Tony Elumelu, the Group Chairman of United Bank for Africa Plc and Founder of the Tony Elumelu Foundation.

In a statement on Monday, the award recognises Elumelu’s contributions to Africa’s economic development, with a particular emphasis on youth entrepreneurship and infrastructure growth across the continent.

In a ceremony held at the presidential palace in Libreville, Gabon, Nguema, who was sworn in as the newly elected President of Gabon just days earlier, expressed appreciation for Elumelu’s commitment to fostering economic growth in Gabon and beyond.

He praised Elumelu’s role in advancing Africa’s development agenda, saying, “Tony Elumelu is not only a visionary entrepreneur but also a committed friend of our nation, Gabon.

“Through his Foundation and the UBA Group, he has consistently shown that investing in Africa is not just good business – it is the key to our shared future. Today, we honour a man whose actions continue to empower young Africans and inspire nations.”

Elumelu, in response to the honour, expressed his gratitude and reaffirmed his commitment to supporting Gabon’s developmental objectives.

“I am truly humbled by this honour. It is a reflection not just of my personal journey, but of a shared belief – that African-led solutions, African entrepreneurs, and African institutions will shape the future of this continent. Gabon holds enormous potential, and I am proud that the Tony Elumelu Foundation and UBA Group can play a role in unlocking it.”

According to the statement, Elumelu further stated, “This is more than a medal – it is a reminder of what we can achieve together as Africans. At UBA and the Tony Elumelu Foundation, we remain committed to building bridges, not just between nations, but between ambition and opportunity.”

The PUNCH reported that the International Monetary Fund has appointed the Founder and Group Chairman, Heirs Holdings, Tony Elumelu, to its Advisory Council on Entrepreneurship and Growth, convened by IMF Managing Director Kristalina Georgieva.