Tony O. Elumelu, CFR, Group Chairman of UBA, Heirs Holdings, and Founder of The Tony Elumelu Foundation, delivered the keynote address at the 2025 African Caucus Meeting held in Bangui, Central African Republic. This year’s gathering, themed “Resilient Infrastructure, Human Capital, and Green Assets,” centred on driving Africa’s development through sustainable, people-focused strategies.
Speaking to an esteemed audience comprising African Finance Ministers, Central Bank Governors, and representatives from global institutions such as the IMF and World Bank, Mr. Elumelu highlighted Africa’s vast untapped potential and the urgent need for homegrown solutions to address the continent’s pressing challenges.
“Africa’s voice must not only be heard — it must lead. Our future cannot be outsourced. The continent must take charge of its development agenda,” he declared.
Emphasising the continent’s critical infrastructure and energy deficits, Elumelu called for innovative financing mechanisms, stronger collaboration between the public and private sectors, and enabling policy environments to unlock Africa’s economic growth. He stressed that reliable access to electricity is a fundamental prerequisite for industrialisation and long-term prosperity.
A firm advocate of Africapitalism — the philosophy that places the African private sector at the heart of the continent’s economic and social transformation — Mr. Elumelu underscored the importance of investing in Africa’s greatest asset: its youth. He shared that, through the Tony Elumelu Foundation, more than 24,000 young African entrepreneurs have received seed funding, while 1.5 million have undergone business training, leading to the creation of over 1.2 million jobs across the continent.
“Africa’s youth are not just our future — they are our present. With the right support, they will unlock the next wave of African prosperity,” he stated.
In concluding his address, Mr. Elumelu issued a compelling call to action: prioritise energy and infrastructure development, invest in youth as a pathway to peace and progress, and build resilient economies through sustainable, African-led initiatives.
As a member of the IMF Advisory Council on Growth and Entrepreneurship, Elumelu also expressed his support for global initiatives such as the World Bank’s Mission 300, which seeks to connect 300 million Africans to electricity.
A respected business leader and philanthropist, Tony Elumelu continues to champion a stronger, self-reliant Africa — one shaped by visionary leadership, empowered youth, and inclusive partnerships.
