The Chairman of United Bank for Africa (UBA) Group, Tony Elumelu, has announced that he will conclude his tenure as Chairman of the Group Board on August 21, 2026, bringing to an end 12 years in the role and decades of service to the pan-African financial institution.
In a farewell message titled “Celebrating an African Institution: My Farewell from UBA,” Elumelu reflected on his vision of building a financial institution capable of outlasting individuals and driving Africa’s economic transformation.
According to him, Africa’s greatest challenge is not a lack of talented people but a shortage of enduring institutions capable of sustaining progress across generations.
“I have never been able to look at Africa and see only borders. Where many see fifty-four separate markets, I saw one continent, one destiny—waiting to be transformed, waiting to be believed in,” Elumelu said.
He added, “Africa does not have a shortage of brilliant women and men. Africa suffers a shortage of institutions that outlast brilliant women and men.”
Explaining the philosophy behind his decision to step aside, Elumelu said effective leadership is about knowing when an institution is prepared for its next phase of growth.
“Leadership is not about holding onto a position, but knowing when an institution is ready for the next chapter,” he stated.
Reflecting on his achievements, Elumelu said his objective was to build an institution that would connect Africa to itself and the rest of the world while creating opportunities for businesses, entrepreneurs, governments, shareholders, and communities.
He noted that UBA had evolved from a Nigerian bank into what he described as “Africa’s global bank,” with operations spanning 20 African countries and four continents and serving more than 50 million customers.
According to him, the bank’s growth demonstrates that an African institution can compete successfully on the global stage while remaining committed to the continent’s development.
Elumelu attributed the bank’s success to the contributions of its employees, management, board members, customers, regulators, shareholders, and business partners who supported its long-term vision.
As part of the leadership transition, Elumelu announced Mr. Emmanuel N. Nnorom as the incoming Chairman of UBA Group.
He expressed confidence in Nnorom’s ability to lead the institution, citing his experience, leadership, and deep understanding of the bank’s operations.
“I have every confidence in his ability to lead the Bank. His experience, leadership, and deep understanding of our institution will provide the continuity and strategic direction needed to build on the strong foundation we have established,” Elumelu said.
He also called on shareholders, customers, partners, and members of the UBA family to extend the same support and confidence to Nnorom as they had shown him throughout his tenure.
