Somachi Chris-Asoluka has been appointed as the new CEO of the Tony Elumelu Foundation, an organization that supports young African entrepreneurs. She will take on the role on March 1, 2023, and will succeed Ifeyinwa Ugochukwu, who is retiring.
Chris-Asoluka has been with the foundation since 2014, holding various positions such as head of research, head of policy and external relations, and most recently, director of partnerships and communications. In her new role as CEO, she will use her expertise, experience, and network to provide strategic leadership for the foundation and its efforts to transform Africa through entrepreneurship.
Chris-Asoluka’s experience in partnership development will be particularly valuable in this role.
The foundation stated that she has demonstrated strong leadership, commitment, and strategic thinking in her previous position as director of partnerships and communications, and is the ideal candidate to build on Ugochukwu’s impactful contributions to the organization.
Tony Elumelu said: “This is an important time for the Foundation and Africa. Our work is ever more important, and our platform demonstrates our ability to catalyse change. We are increasingly working with partners, to magnify our impact,”
“On behalf of the board, I also thank Ugochukwu, 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.”
Ifeyinwa said: “Over the last five years, the Tony Elumelu Foundation has significantly expanded its mission to empower African Entrepreneurs across all 54 African Countries.”
“In particular, the Foundation has grown its partnership capability, opening its platform and process to third parties, who share in our commitment to growing the African entrepreneurial ecosystem, and transforming Africa by empowering entrepreneurs.”