One of my mistakes while building United Bank for Africa
OpenLife Nigeria reports that Tony Elumelu, a Nigerian economist, philanthropist and business owner, has revealed a mistake he made while building United Bank for Africa, a leading commercial bank in Nigeria.
The 58 years old chairman of UBA and founder of Heirs Holdings, made the revelation during an interactive session with women, drawn from different countries, as part of the activities to celebrate 2022 International Women’s Day.
In a Facebook narrative titled: What a way to celebrate #IWD22! Elumelu stated that in retrospect, he wouldn’t have been publicity shy when starting up as a banker and business owner.
He admonished the women to embrace publicity and learn how to tell their own stories adding that there could be consequences if a third party tells their stories with corresponding twists and errors.
Elumelu wrote:
On March 8th, I marked #IWD2022 by mentoring a group of over 80 audacious and dynamic African women.
What united us was our commitment to driving change in Africa. I spoke with businesswomen, founders of NGOs, young professionals with fiery ambitions – and from across Africa.
I was so inspired by the achievements, plans and energy of these women – The future is certainly female!
Our conversations are ones I will remember for a long time. I was asked about building a strong business and I spoke from my experience of building UBA Group to the global bank it is now – The importance of a clear vision, that can inspire a team – setting clear, tough, but achievable milestones along the journey to your goal. Hitting those milestones gives you the motivation you need to keep going. I also highlighted what is important to me – assembling the right team, imbibing the right culture, handwork, resilience and governance.
I particularly loved a question on a mistake I made starting out – for me, it was being publicity-shy and not telling our story ourselves. If you don’t tell your own stories – others will do. Misconceptions, once made, take time to correct. As businesses owners and career persons you have to tell your own story – and get it right!
I also got a pleasant surprise – my wife – an entrepreneur in her own right – and daughter joined me on stage as I rounded up our conversation and one thing Mrs TOE said as she addressed the audience stuck – Succeeding in whatever you do as a woman, opens doors for other women. We don’t yet all have the access but do right in your own space and other women will be inspired to do better.
I appreciate all the women who came from far and wide to join the session with me physically or virtually… we will do this again soon!
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