Chairman of UBA and founder of the Tony Elumelu Foundation, Tony Elumelu, has called for a fundamental reset in how the world engages with Africa emphasizing investment, entrepreneurship, and equal partnership over aid and charity.
Speaking at a high-level Africa-Europe Summit on economic cooperation and sustainable development, Elumelu said, “Africa needs partners, not charity. Our future won’t be built on aid, but through investment, collaboration, and the entrepreneurial spirit of our people.”
His remarks come at a defining moment for Africa — a continent rich in human capital and natural resources, yet still navigating deep economic and structural challenges.
For decades, global interactions with Africa have often centered on humanitarian aid. Elumelu argued that this approach must change, highlighting Africa’s youthful population, growing innovation ecosystem, and untapped potential as strong foundations for sustainable growth.
“We must empower small businesses and support young innovators. This is how we unlock Africa’s potential and achieve inclusive development,” he said.
The summit brought together top policymakers, investors, and business leaders from both continents to explore new frameworks for trade, sustainability, and long-term partnerships.
Elumelu, a long-time advocate for African entrepreneurship, reiterated that Africa’s development must be driven from within — with global stakeholders playing supportive and respectful roles.
“It’s time to redefine Africa’s relationship with the world — one grounded in dignity, mutual respect, and shared prosperity,” he concluded.
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