Billionaire businessman and UBA Group Chairman, Tony Elumelu, has urged African leaders to shift their focus from profit-first thinking to a people-first mindset if the continent is to experience sustainable prosperity. In a leadership note shared on… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Tony Elumelu says Africa must focus on people, not profit, to achieve lasting prosperity By sbinsights on July 21, 2025 Billionaire businessman and UBA Group Chairman, Tony Elumelu, has urged African leaders to shift their focus from profit-first thinking to a people-first mindset if the continent is to experience sustainable prosperity. In a leadership note shared on Facebook, Elumelu reflected on a lesson he learned early in his career — that successful businesses are built by empowering people first, not by chasing profit. "In leadership, the hardest decisions are rarely about numbers. They're about people," he said. "You don't build successful companies by focusing on profit first. You build them by focusing on people, and profit follows." Read also Elumelu noted that this approach continues to guide his work at Heirs Holdings and UBA Group. "Empower people. Create value. Then measure the success," he added. He called for a broader adoption of this mindset across the continent, saying it is essential to unlocking Africa's full potential. The entrepreneur, who is also the founder of the Tony Elumelu Foundation, has long advocated for entrepreneurship and inclusive economic growth as key pillars for Africa's future.

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