Renowned entrepreneur, Tony Elumelu
A renowned African entrepreneur and philanthropist, Tony Elumelu, has underscored the critical role of the youth and women in Africa’s development trajectory.
Speaking on a topic; “Decades of Delivering on Shared Aspiration: The transformational collaboration between Afreximbank and African Multinational Corporations and Banks” at the just ended 32nd Annual Meetings of the African Export-Import Bank (Afreximbank), held in Abuja, Elumelu called for bold, inclusive strategies to unlock the continent’s full potential.
He has further emphasized that Africa’s demographic dividend — its vast youth population—must be seen not as a challenge but as a powerful asset.
“We cannot talk about Africa’s future without placing our youth and women at the center of our development agenda,” he said, drawing applause from a packed audience of policymakers, business leaders, and development partners.
He argued that empowering women and young people through entrepreneurship, education, and access to finance is not just a moral imperative but an economic necessity.
“When we invest in women and youth, we invest in innovation, resilience, and inclusive growth,” Elumelu stated, referencing the success of his foundation’s entrepreneurship programme, which has supported one million youth and over 18,000 African startups across 54 countries.
A key highlight of his submission was the urgent need for reliable electricity across the continent.
Elumelu, whose investments span energy, banking, and hospitality, stressed that without consistent power supply, Africa’s ambitions in technology, manufacturing, and industrialization would remain stunted.
“Electricity is the oxygen of modern economies. Without it, our dreams of digital transformation and industrial competitiveness will suffocate,” he warned.
He praised Afreximbank’s role in financing infrastructure and trade, noting that its collaboration with African multinationals has been instrumental in driving cross-border commerce and regional integration.
“This Bank has not only financed trade — it has financed hope,” Elumelu said, citing examples of successful partnerships that have catalyzed growth in sectors such as energy, agriculture, and logistics.
The 2025 Annual Meetings, themed “Building the Future on Decades of Resilience”, brought together over 6,000 delegates from across Africa, the Caribbean, and the diaspora. The event served as a platform for high-level dialogue on trade, investment, and innovation, with leaders such as President Bola Ahmed Tinubu, former President Olusegun Obasanjo, and global economists like Professor Jeffrey Sachs in attendance.
Elumelu’s remarks resonated deeply with the conference’s broader agenda of fostering inclusive prosperity and self-reliance. His call to action—“Let us build an Africa where no one is left behind” — was met with a standing ovation, signaling widespread support for his vision of a more equitable and electrified continent.
In a post-session interview, Elumelu reiterated his belief in the power of public-private partnerships to drive systemic change.
“Governments must create the enabling environment, but it is the private sector that will deliver the jobs, the innovation, and the infrastructure,” he said, urging African leaders to prioritize policy reforms that attract investment and reduce the cost of doing business.
