African investor and philanthropist, Mr. Tony O. Elumelu, CFR, has made a case for African investment opportunities at the World Government Summit in Dubai .
Elumelu highlighted the 15-year track record of returns and impact created by his investment vehicle, Heirs Holdings.
An investor globally and across Africa, in multiple sectors, Elumelu stated that “while my investments span four continents, nowhere matches Africa’s ROI potential”.
Elumelu emphasised Africa’s enormous demographic potential stating that “60% of Africans are under 25, we have the youngest, most dynamic generation globally.”
On a high-profile panel titled “The New Economic Revolution: An African Perspective,” moderated by CNN anchor Eleni Giokos, Elumelu spoke of Africa’s potential for economic growth, driven by a vibrant private sector and burgeoning youth demographic.
Elumelu invests in strategic sectors that offer high returns but also drive Africa’s economic renaissance.
He invests according to his Africapitalism philosophy, on the basis that private sector needs to do good, and well.
“Heirs Holdings has the capacity to generate 2,000 megawatts of electricity daily, and today, we generate about 750 megawatts. Our investment transforms lives and powers industries. It creates a value chain, in Africa, from natural resources to last mile distribution of electricity,” Elumelu said.
As Founder of the Tony Elumelu Foundation and Chair of Heirs Holdings Group — one of Africa’s largest and most diversified private investment portfolios —Elumelu shared his extensive experience in navigating investment landscapes across four continents.
“I have investments on four continents, including the Gulf, a diversified investment portfolio in power, oil and gas, financial services, real estate, hospitality, and health care. Nowhere does better than Africa”.
A strong advocate for Africa’s youth, Elumelu’s philanthropic efforts through The Tony Elumelu Foundation, have empowered 20,000 young entrepreneurs across 54 African countries, with $100 million in seed funding, mentorship, and training.
These initiatives have already resulted in the creation of over 400,000 jobs within local communities, showing the potential of entrepreneurship in driving prosperity across the continent.
Addressing common misconceptions about the challenges faced in Africa, Elumelu reframed these issues as opportunities for investment, particularly in infrastructure development.
“The challenges we face are opportunities, especially infrastructure, access to electricity, power development on the continent, transportation”.
“This isn’t charity – it’s the smartest capital allocation of our lifetime. The question isn’t if, but how fast you’ll join us.”
The World Government Summit is an annual event in Dubai, United Arab Emirates, bringing together global leaders to discuss governance and investment opportunities.
Other speakers on the panel session included David Moinina, Chief Minister of the Republic of Sierra Leone, and Akinwumi Adesina, President of the African Development Bank Group, who collectively highlighted the importance of financial inclusion and strategic partnerships in advancing Africa’s development.
