Mr. Tony Elumelu, President of the UBA Group and the Foundation of the same name, sheds light on what he considers to be the principles of leadership. The man whose foundation empowers more than 5,000 young entrepreneurs on the continent looks back on his journey and the facts that shaped his leadership. Discover his column here.
People often ask me TOE, how do I learn leadership. Do I need to take a course? Buy a book ? Find a mentor? Are leaders born or can we become a leader?
Just like I say about business success, there are many elements of leadership that have to do with luck: being in the right place at the right time. But I also believe that the talents and disciplines you bring to the table in creating a vision, and the resilience and focus that brings that vision to fruition, can also shape your own personal leadership.
I had the chance to work with chef Ebitimi Banigo at the start of my career. My leadership philosophy was built by working with him. It all started when Chief Banigo took the time to read my application letter and gave me a chance to prove myself at Allstates Trust Bank in 1988. When my colleagues tell me today, “TOE, you answer too much quickly to our emails”, I laugh because I learned from the master himself, Chef Banigo. When I sent him memos, he responded within twenty-four hours; so why shouldn’t I react even faster in the age of technology?
These are some of the leadership values I learned during my time with Chief Banigo, and I put them all into practice today.
Leaders must demand excellence : Only by going the extra mile and pushing ourselves can we truly grow and stand out. Hard work and excellence made my bosses Toyin Akin-Johnson and Ebitimi Banigo take notice and subsequently believe in me. At twenty-seven, I moved from intern to boss when I was appointed branch manager, the youngest bank branch manager at the time. All the things I learned earlier paid off and I continued to learn.
Good leaders find in people what people didn’t know they had. Leaders recognize the talent in their team and then work to unleash it. When I work, I work to achieve my objectives, but also to release the skills of my teams. I know that everyone I work with has enormous potential – for me, my success also depends on the success of others, developing and expanding their talents, which is the foundation of our growth within the Heirs Group Hodings. This focus on talent, teams, and personal transformation is why I place so much emphasis on creating institutions, cultures, and pathways where human capital can thrive. This is why I am an investor in companies, but also entrepreneurs across Africa.
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Leaders must preach with their words – A leader must be consistent. People want to trust a leader they believe has integrity. Leadership is not just about telling people what to do, it is also about leading by example. A good leader must lead by example and practice what they preach, this demonstrates integrity, it builds trust and respect.
Leaders must transmit their knowledge : I benefited from the mentorship of Chief Banigo of Allstates Trust Bank. He helped me develop my strategic thinking, my frames of reference and channel my ideas into concrete actions, so that when the moment of opportunity arrived, at the age of thirty-four, I had the confidence to bring a small group together. Taking over and reviving a failing bank – Taking that huge step, which still shapes an industry and a continent today.
Today, when faced with an impossible situation, I ask myself: “What would Chief Banigo do?” I worked with Chef Banigo from 1988 to 1995, until today, he is the one I turn to when I need advice.