During the 79th United Nations General Assembly (UNGA) in New York this September, Tony Elumelu, Group Chairman of United Bank for Africa (UBA) and Founder of The Tony Elumelu Foundation (TEF), engaged global leaders and policymakers in a crucial dialogue about fostering impactful change for Africa’s future.
Elumelu highlighted several pressing issues, including the need for transformative economic growth to eradicate poverty, create job opportunities for the youth, and ensure an equitable energy transition that benefits the continent. He stated, “There is a better way to invest in Africa for a sustainable future that creates value for all,” urging a unified effort to elevate the continent on the global stage.
Empowering African Entrepreneurs
Elumelu’s TEF has disbursed over $100 million to support 20,000 young African entrepreneurs across 54 countries, with more than 1,000 beneficiaries from Uganda alone. He emphasized the importance of creating an environment conducive to entrepreneurship, saying, “If you prioritize the young ones, they will help you solve big problems.”
At UNGA 79, Elumelu held high-level discussions, including a meeting with Bard Vegar Solhjell, Director General of the Norwegian Agency for Development, where they explored ways to further empower young entrepreneurs across Africa. He also met with Margrethe Vestager, Executive Vice President of the European Commission, to appreciate her ongoing support, which has already aided over 2,500 young women entrepreneurs.
Addressing Hunger and Youth Unemployment
Elumelu participated in a roundtable discussion with former U.S. President Bill Clinton, focusing on innovative solutions to achieve climate goals while promoting sustainable development. He joined the World Food Programme’s (WFP) reception, where he called for urgent collaboration to tackle the dual crises of global hunger and youth unemployment.
“With 783 million people battling hunger and 60% of Africa’s youth underemployed, this is a call for immediate action,” Elumelu stated. He emphasized that success in business cannot be realized without addressing hunger, a sentiment echoed by WFP Executive Director Cindy McCain.
Advocating for African and Caribbean Partnerships
Elumelu also met with Jamaica’s Prime Minister Andrew Holness, stressing the importance of strengthening partnerships between Africa and the Caribbean. “The young people in the Caribbean, just like those in Africa, need the same economic opportunities and hope as their peers elsewhere in the world,” he asserted.
As a visionary entrepreneur and proponent of Africapitalism, Elumelu continues to champion the private sector’s role in delivering social and economic prosperity, emphasizing that meaningful change requires collaborative efforts across all sectors.
