Former Chief Executive Officer of United Bank for Africa, UBA, Tony Elumelu last week in Accra recommended that with the current state of growth on the continent, Africa needs more entrepreneurs to take over the mantle of leadership in the various African countries.
TOE; as he is affectionately called was speaking at the launch of a book on entrepreneurship authored by Nutifafa Kuenyehia titled “Kuenyehia on Entrepreneurship”.
In transforming the entrepreneurship mentoring in his country, he has ordered for copies to be supplied to the Tony Elumelu Foundation in Nigeria to be used as a reference guide in their activities in order to understand and digest issues relating to developing oneself as an entrepreneur.
He therefore called on the UBA management members across Africa to get copies of the book on their shelves, as part of the entrepreneurship learning processes being undertaken in various African countries which have UBA representation.
According to Elunmelu, UBA posted, for the first quarter of 2012, US$101.5 million pre-tax profits, a 233% increase from the corresponding period last year and its share price has more than doubled over the last month.
Commenting more on the performance, he said Africa is beginning to contribute to the bank’s bottom line, saying Africa contributed over 20% of the profit.
“The harvest period is here. UBA Ghana currently generates profits of close to US$3 million monthly” he noted.
Elumelu sees a bright future as he refers to a new Standard and Poor’s report that predicts a rise in GDP rates across several African countries.
TOE; as he is affectionately called was speaking at the launch of a book on entrepreneurship authored by Nutifafa Kuenyehia titled “Kuenyehia on Entrepreneurship”.
In transforming the entrepreneurship mentoring in his country, he has ordered for copies to be supplied to the Tony Elumelu Foundation in Nigeria to be used as a reference guide in their activities in order to understand and digest issues relating to developing oneself as an entrepreneur.
He therefore called on the UBA management members across Africa to get copies of the book on their shelves, as part of the entrepreneurship learning processes being undertaken in various African countries which have UBA representation.
According to Elunmelu, UBA posted, for the first quarter of 2012, US$101.5 million pre-tax profits, a 233% increase from the corresponding period last year and its share price has more than doubled over the last month.
Commenting more on the performance, he said Africa is beginning to contribute to the bank’s bottom line, saying Africa contributed over 20% of the profit.
“The harvest period is here. UBA Ghana currently generates profits of close to US$3 million monthly” he noted.
Elumelu sees a bright future as he refers to a new Standard and Poor’s report that predicts a rise in GDP rates across several African countries.
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