Africa’s richest man Aliko Dangote has hailed Tony Elumelu, Chairman of the United Bank of Africa Plc, as“one of the most innovative and ambitious business leaders of his generation”.

H paid the tribute in a piece eulogising Elumelu o the occasion of is recent recognition by TIME magazine as one of the 100 most outstanding people on earth.

According to Dangote, “A mere handshake says a lot about Tony Elumelu. His gritty grip underlines his charming, tenacious personality: a man who hardly backs down from any challenge. The same engaging qualities have propelled him from a modest beginning in Nigeria to becoming chair of the United Bank of Africa, and one of the most innovative and ambitious business leaders of his generation.”

The President of Dangote Industries Limited acknowledged ELumelu’s status as a leading proponent of Africapitalism, a belief that Africa’s private sector can and must play a leading role in the continent’s development through long-term investments, as well as entrepreneurship and regional connectivity.

“After deepening the financial market in Africa, he has found an equally important niche: giving a voice of hope to millions of youths across Africa. Tony has harnessed Africa’s youth bulge to catalyze development and protect the future, committing to investing $5,000 each in 1,000 young entrepreneurs per year across 54 countries in Africa. Having come so far, Tony still forges on, striking a fine balance between personal satisfaction and societal impact,” Dangote further said of Elumelu.