Nigerian business magnate Tony Elumelu received the 2025 Appeal of Conscience Award at the foundation’s 60th Annual Gala in New York City on September 29, joining an elite group of global leaders recognized for ethical leadership and humanitarian contributions.
The award, presented at the Waldorf Astoria, honored Elumelu alongside Cardinal Timothy Dolan, Archbishop of New York, for their commitment to ethical leadership, religious tolerance, and human dignity. The Appeal of Conscience Foundation, established by Rabbi Arthur Schneier, presents the award to public figures who exemplify enlightened leadership.
Dr. Awele Elumelu, co-founder of the Tony Elumelu Foundation and the honoree’s wife, accepted the award on his behalf due to scheduling commitments. Her acceptance speech carried particular emotional weight, as she acknowledged the recent deaths of six colleagues from the Heirs Holdings group.
“It is with a heavy heart, weighed by recent and profound loss, that I accept this award,” she said, speaking on behalf of her husband. “They were family, friends, mothers, sons, and daughters dedicated to building a better Africa. Their absence leaves a void that cannot be filled.”
Despite the somber tone, the speech highlighted Elumelu’s life philosophy of “putting humanity first,” rooted in his concept of Africapitalism, which positions the private sector as the primary driver of economic and social development across the continent.
“I was not born with a silver spoon; I inherited nothing,” the acceptance remarks stated. “But determination and luck brought me success. And with that success comes responsibility to give back and create opportunities for others.”
Through the Tony Elumelu Foundation, established in 2010, Elumelu has committed $100 million to support over 24,000 entrepreneurs across all 54 African countries. The foundation provides seed funding, training, and mentorship to young business owners, representing one of Africa’s most significant private sector interventions in youth entrepreneurship.
His business empire, operating across four continents, employs more than 40,000 people. United Bank for Africa, which he chairs, maintains the distinction of being the only African bank licensed to accept deposits in the United States, with operations in New York.
Rabbi Arthur Schneier praised Elumelu’s approach to business leadership, describing him as “a beacon of ethical entrepreneurship and visionary leadership.” Schneier emphasized that business can serve as “a powerful force for peace, stability, and human dignity,” with Elumelu’s commitment to uplifting others representing “a living example of conscience in action.”
The Appeal of Conscience Award has recognized numerous world leaders since its inception, including heads of state, religious leaders, and business figures who have demonstrated commitment to human rights and interfaith cooperation. Previous recipients include German Chancellor Angela Merkel, King Abdullah II of Jordan, and former United Nations Secretary-General Ban Ki-moon.
Elumelu dedicated the award to young African entrepreneurs and his colleagues at Heirs Holdings, describing it as “a recognition of their resilience and our shared commitment to building bridges of hope and prosperity across Africa and the world.”
The recognition comes as African entrepreneurship faces both opportunities and challenges. While the continent’s young population represents enormous potential, access to capital, infrastructure deficits, and governance issues continue to constrain business development in many countries.
Elumelu’s model of private sector-led development has attracted both praise and scrutiny. Supporters credit his foundation with creating tangible opportunities for thousands of young Africans who lack access to traditional financing. Critics question whether private philanthropy can adequately address systemic challenges requiring government intervention and policy reform.
Nevertheless, his influence on African business discourse remains significant. The Africapitalism philosophy has shaped conversations about development across the continent, emphasizing wealth creation alongside social responsibility.
The award ceremony featured remarks from religious, business, and civic leaders, reflecting the Appeal of Conscience Foundation’s interfaith mission. The foundation has spent six decades promoting religious freedom and human rights while encouraging dialogue between different faith communities.
For Elumelu, the recognition validates an approach to business that prioritizes social impact alongside profit. Whether that model can be replicated at scale across Africa remains an open question, but his commitment to the vision continues to inspire a generation of African entrepreneurs seeking to build businesses that transform their communities.
