Tony Elumelu urges leaders to invest in infrastructure, youth at African Caucus Meeting
President, Central African Republic, Faustin-Archange Touadéra and Group Chair, UBA and Heirs Holdings and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu
Nike Popoola
The Chairman of Heirs Holdings, UBA, Transcorp, and Founder of The Tony Elumelu Foundation, Tony O. Elumelu, has called for urgent and unified action to unlock Africa’s full potential through resilient infrastructure, investment in human capital, and a strategic focus on green and transitional energy.
He delivered a keynote address with the theme, ‘‘Resilient Infrastructure, Human Capital, and Green Assets’, today at the African Caucus Meeting, in Bangui, Central African Republic,
Speaking to an audience of African Ministers, Central Bank Governors, IMF and World Bank officials, and regional stakeholders, Elumelu stressed that the continent must take ownership of its development and champion solutions that serve Africa’s unique needs.
“Africa has solutions to many of the world’s pressing problems, from demographics to food security to minerals that power innovation,” Elumelu stated. “But this opportunity must be realized on African terms, delivering value to African people and driven by true, equitable partnerships.”
Underscoring the importance of modern infrastructure, Elumelu highlighted Africa’s severe infrastructure gap, especially in power generation. He emphasized the need for increased fiscal capacity, efficient governance, and innovative financing, with the private sector playing a leading role.
“Power is everything,” Elumelu declared. “Without energy, there can be no industrialization, no jobs, no participation in the digital economy.”
Elumelu cited Nigeria’s energy deficit of less than 7,000 MW for over 200 million people, as a stark reminder of the urgent need for investment in energy, including renewables and gas-based transitional solutions. Through his companies, including Transcorp and Heirs Energies, he is demonstrating how private capital can drive development, a philosophy he calls Africapitalism.
He also called for greater investment in Africa’s youth, the continent’s most valuable asset. Through the Tony Elumelu Foundation, over 24,000 young entrepreneurs across all 54 African nations have received seed funding and training, helping to create over 1.2 million jobs.
Elumelu concluded with a clear call to action: “Africa’s future is in our hands. No one will build this continent for us. We must lead, invest in our people, and power our economies. Africa is ready, let us seize this moment.”
