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Tony Elumelu rallies Africa’s successful people to invest in African youths



Billionaire investor and Chairman of Heirs Holdings, Tony Elumelu, is championing a call to action for fellow successful individuals to invest in the young talents of the African continent.

During a panel discussion at the Clinton Global Initiative alongside President & CEO of the Marguerite Casey Foundation, Carmen Rojas, Elumelu emphasized this, and the pivotal role philanthropy plays in levelling the playing field for inclusive opportunities.

Elumelu stressed the importance of channelling investments towards young African entrepreneurs, recognizing them as the linchpin for Africa’s development—the very essence of Africapitalism.

He said, “I stressed the importance of investing in our young African men and women entrepreneurs who are the key to the African continent’s development – this is the underpinning of Africapitalism.

Elumelu highlighted three key sectors that are tantamount to ensuring that young people are self-reliant and empowered to become financial leaders.

He pointed out that these sectors must be approached in a joint partnership.

Renowned as a champion of African Capitalism, Elumelu advocates for long-term private-sector investments as catalysts for economic prosperity and social development in Africa.

He founded Heirs Holdings after leaving UBA in 2010. The company is a family-owned investment company with an extensive portfolio spanning the power, financial services, oil and gas, hospitality, real estate, and healthcare sectors.

Elumelu is also the founder of the Tony Elumelu Foundation (TEF). The foundation provides access to opportunities for African entrepreneurs by creating a digital ecosystem for mentorship, training, and funding.

Through TEF, thousands of entrepreneurs have been funded, and the foundation continues to welcome applications from aspiring business leaders annually.

Tony Elumelu also chairs Transcorp, one of Nigeria’s largest quoted conglomerates, which includes subsidiaries such as Transcorp Power and Transcorp Hotels Plc.