Davos Diaries: Chairman, UBA Plc, Tony O. Elumelu reflects on WEF, Davos 2017

 

Day 2 of #WEF2017 started out on a very chilly
note – we woke up to minus 18 degree Celsius (-18 C), six degrees cooler than
the day before! Despite the freezing weather, our passion and energy remained
unchanged as we bustled to and from meetings, plenary sessions and events, yet all
the while, finding time in between to film special appearances on select TV
channels. I embrace the responsibilities that come with being an African leader
and representing our continent at this prestigious gathering – our story must
be told and it must be told well.

 

Figure 1: If you look closely,
you’ll see the mist that formed from my breath!
 
 
As I often reiterate, the
demographic boom in Africa deserves to be a priority focus because if managed
properly could become a demographic dividend that benefits the global community,
BUT if not handled with care, will
speedily deteriorate into a demographic doom that threatens all of humanity – not only Africa, but
the entire world. Poverty anywhere is a threat to mankind everywhere.

History has shown us that
economic opportunity breeds prosperity. Individual economic empowerment is the
foundation of national development. Therefore, I am resolute in my faith in the
power of entrepreneurship to transform communities, cities and a continent.
TEF’s $100m commitment to empowering the next generation of African
entrepreneurs is our own way of demonstrating our faith in the talents of young
African men and women across Africa’s 54 states. It is always a pleasure
meeting entrepreneurs from all over the world who are eager to support the
Foundation by devoting time to serve as mentors. Taso Du Val, CEO and Cofounder
of
Toptal – a leading site to hire
top freelance software developers – is one of such entrepreneurs who readily
volunteered today to mentor some of our most promising TEF start-ups.

 
 
 
Figure 2: With Taso Du Val and our
TEF ambassador from MIT Media Lab, Avraham Berkowirtz
 
 
The CEO of the Foundation, Parminder Vir OBE
(PV), is one vivacious leader! She came to Davos with an agenda and is ticking
off her checklist with impressive dedication. PV, our networking queen, employs
her charisma and delightful wit to secure partnerships that add value to our
entrepreneurs. Here at Davos, she has worked hard, alongside TEF COO, Owen, to
tell all participants about the transformative work of the Foundation and our
partners, encouraging them and the organizations they lead to join us on our
journey!
 
 

 

Figure
3: Parminder
(CEO, TEF) and Owen (COO, TEF), co-hosting a roundtable session with Accenture,
GCERF and other stakeholders in the global entrepreneurship ecosystem
 
 
Figure
4: PV introduces me to a potential
director for our upcoming Africapitalism documentary
 
 
As always, it is nice to bump into
long-time friends. From Aliko, to Akin, to Wale, to Mohammed, Africa took Davos
by storm with intimidating representation. Supported by their extensive
participation in the line-up of WEF activities, our hashtag #AfricaAtDavos was
indeed brought to life. 
 
 
Figure
5: Well done to President Akin
Adesina of AfDB for all his transformational activities at the bank.
 
 
 
Figure
6: Yesterday I met with China’s
richest man. Today, it’s with Africa’s richest man. He needs no introduction. I
call him….ALICASH!
 
Figure
7: Mohammed Sanusi Barkindo, another
illustrious African doing us proud as secretary general of OPEC.
 
 
Figure
8: Catching up with Oando Plc boss,
Wale.
 
Figure
9: With my “older brother”, Jim Ovia,
Chairman Zenith Bank, also in a red tie
J
 
Figure
10: Discussing intra-African
investment opportunities with Daniel Matjila CEO of PIC South Africa with asset
under management worth $150b.
 
 
And the big BOSS, the Nigerian Vice
President, His Excellency, Yemi Osinbajo, led the Nigerian delegation at this
year’s WEF – contributing to a record three sessions in one day! VP Osinbajo is
well spoken, intelligent and incredibly insightful. It was real pleasure to see
him again; I always enjoy listening to this sincere man speak.
 
 
Figure
11: Selfie with the VPee and Ken-Cool,
CEO of UBA Group.
 
In the middle of the busy day, I still found
time to enhance our business interests alongside advancing the cause of
humanity. As Africapitalism espouses, investments should be driven by the
desire to create both economic benefits (profits) and social welfare
(prosperity). I have dedicated time towards pursuing the intersection of
humanity and business because both are not in conflict and can exist side by
side if done right. Our meetings with the Hilton Group and Bureau Veritas
focused on exploring doing business together in Africa, investing in strategic
sectors that contribute to jobs, household incomes, government revenue and
local supply of products and services that raise quality of life for citizens.
 
 Figure
12: Reviewing
the expansion of Transcorp Hotel across Africa with President Chris Nassetta of
Hilton Worldwide and his team, CEO of Transcorp Hilton Abuja, Val Ozigbo, and
Heirs Holdings’ Legal Adviser/Company Secretary, Obong Idiong.
 
Figure
13: Exploring
mutually beneficially business relationships across Africa with Bureau Veritas
CEO, Didier Michaud-Daniel and his team.
 
 

 

I also caught up with Tom Nides,
Chairman of Morgan Stanley, who also sits on the Wilson Global Council with me. 
 
 
 
Figure
14: Touching base with Tom on the
activities on the Wilson Global Center that we both serve on.
 

 

I ended the day by visiting the
famed WEF Media Village for a few interviews. As usual, expect these when the
footage is released.
 
Figure
15: Admiring the work of nature at the
Davos Media Village 
 

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