Tony Elumelu Holds On Africa’s Path To Resilient Growth At The African Caucus Meeting

At the African Caucus Meeting in Bangui, Central African Republic, Tony O. Elumelu, Chairman of Heirs Holdings, UBA, and Transcorp, and Founder of the Tony Elumelu Foundation, delivered a powerful keynote on the theme “Resilient Infrastructure, Human Capital, and Green Assets.”

Speaking to African ministers, central bank governors, IMF and World Bank representatives, Elumelu called for a development agenda driven by Africans, for Africans, and focused on sustainable impact.

“Africa’s voice must be heard,” he said, emphasizing the continent’s young population, natural resources, and agricultural potential. These assets, he noted, must first benefit Africans.

Elumelu stressed that closing infrastructure gaps, expanding energy access, and developing new financing tools—especially through public-private partnerships—are essential for progress. “Without infrastructure, there is no prosperity. Without energy, there is no progress,” he said.

He highlighted Africapitalism, his economic philosophy that promotes private-sector investment with social impact, as key to unlocking Africa’s potential.

Central to his message was youth empowerment. With over 60% of Africans under 35, Elumelu urged increased investment in young people. Through his foundation, over 24,000 entrepreneurs in 54 countries have received support, generating more than 1.2 million jobs.

He closed with a three-point call to action:

Africa must own its development journey.
Energy must drive industrial growth.
Investing in youth is critical to Africa’s future.

Elumelu also welcomed global initiatives like the IMF’s Advisory Council on Entrepreneurship and the World Bank’s Mission 300, saying: “Africa is ready.”