Tony Elumelu Foundation names Chris-Asoluka as new CEO
By Felicia Nwosu
Board of Trustees of the Tony Elumelu Foundation (TEF), a non-profit organisation in Africa, has appointed Somachi Chris-Asoluka as its new Chief Executive Officer (CEO), following the exchange of baton with the current CEO, Ifeyinwa Ugochukwu, who will be bowing out. According to TEF, the new appointment takes effect from 1 March, 2023.
As the new CEO, Chris-Asoluka will leverage her expertise, experience and network to provide strategic leadership in consolidating and deepening the company’s work of transforming Africa through entrepreneurship.
The Foundation, while sharing the remarkable transition on its LinkedIn page, said, “This is an important time for the Foundation and Africa. Our work is ever more important, and our platform is demonstrating our ability to truly catalyse change. We are increasingly working with partners, to magnify our impact. Somachi’s experience in partnership development will be particularly relevant. Somachi, as Director of Partnerships & Communications, has demonstrated strong leadership, commitment, and strategic thinking, in delivering the Foundation’s mission to transform Africa. She is the perfect candidate to build on Ifeyinwa Ugochukwu’s impactful contribution.
“On behalf of the Board, I also thank Ifeyinwa for her considerable achievements, significant sacrifice and commitment to building and empowering the next generation of African business leaders. The Foundation, since inception, has been led by a succession of dynamic and diverse CEOs, who have each brought passion, commitment, and innovation. As the tenure of Ifeyinwa draws to a close, I look back on the last five years and pay tribute to the impact she has made, first as Director of Partnerships, and later as the Chief Executive Officer.”
On her part, Chris-Asoluka, who will be officially resuming in her new position from 1 March, 2023, while responding to the foundation’s comment on the new appointment on the same platform, said she is unbelievably honoured to further serve TEF in this capacity. She also expressed her profound gratitude to the founder for the incredible opportunity to build on Ifeyinwa’s legacy and also for the privilege to further empower young African entrepreneurs from all 54 African countries.
“I am honoured to be appointed to lead the foundation, particularly at a time when we will be launching a new coalition for African entrepreneurship. This coalition will bring together global and African partners to significantly increase the impact created by TEF’s unique platform for identifying, mentoring, training, and funding young African entrepreneurs,” she said.
“I look forward to working with the team, our partners, and all stakeholders to achieve our common goal of a strong, confident, self-reliant Africa. I am honoured to build on Ifeyinwa’s legacy and launch the Tony Elumelu Foundation into its next phase of impact,” she added.
Chris-Asoluka before now has functioned in various capacities including head of research, head of policy and external relations, and most recently, as the director of partnerships and communications having joined the foundation since 2014.
Somachi holds a BSc. in economics and a minor in mathematics from Saint Mary’s College of California and also a master’s degree in international and development economics from Yale University.
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