The founder and chairman of Heirs Holdings, Tony Elumelu has urged global leaders to rethink how they engage with Africa, saying the continent needs investment in power and infrastructure rather than dependence on foreign aid.
Speaking at the Africa Forward Summit, hosted by William Ruto and Emmanuel Macron, Elumelu said Africa is ready for partnerships built on fairness, mutual respect, and economic value, not charity.
Addressing heads of state, investors, and business leaders, he stressed that Africa’s future must be driven by African-led ideas and solutions, with international partnerships supporting rather than dictating the continent’s growth.
According to him, access to reliable electricity and large-scale infrastructure remains central to Africa’s economic transformation. He said the private sector has a major role to play in attracting the capital needed to build these foundations for growth.
Elumelu noted that creating the right business environment would not only attract investment but also generate jobs, reduce poverty, and improve living conditions across the continent.
Highlighting Africa’s youthful population, with over 65 percent under the age of 35, he dismissed the long-standing narrative of aid dependency. He said young Africans need opportunities, employment, internet access, and stable power supply to fully unlock their potential.
He pointed to the work of the Tony Elumelu Foundation, which he said has trained 2.5 million young Africans in entrepreneurship and funded more than 27,000 businesses across all 54 African countries.
Elumelu also said Africa should remain open to partnerships with credible international investors from any part of the world, as long as such relationships support the continent’s economic ambitions.
He added that Africa’s growth story goes beyond its rising population, noting that the 21st century requires a new mindset focused on prosperity, enterprise, and long-term development.
The businessman said his participation at the summit reflects the wider vision of Heirs Holdings, which continues to invest in sectors such as power, financial services, healthcare, hospitality, and technology to drive sustainable transformation across Africa.
The summit ended with renewed calls for stronger collaboration between governments, development institutions, and private businesses to accelerate inclusive growth and strengthen Africa’s role in the global economy.
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