Tony Elumelu, founder and chairman of Tony Elumelu Foundation and United Bank for Africa has taken the message of Africapitalism across the continent and unto the shores of Japan.
Africapitalism, according to Elumelu is the economic philosophy predicated on the belief that Africa’s private sector can and must play a leading role in the continent’s development.
Elumelu is currently engaging with world leaders at the seventh Tokyo International Conference on African Development (TICAD) in an advocacy that will spiral into opening opportunities for the African youth and grow ideas that will enable job creation.
Ifeyinwa Ugochukwu, CEO of the foundation says the founder is anchoring his message across three dynamics.
She said in an emailed statement made available to business a.m that Elumelu will first market the country’s private sector, which she noted is the new oil of the African continent.
“We cannot say this enough – Africa is rich with unexplored investment opportunities, but for this to happen, the public sector must work in alignment with the private sector. They both must shake hands to fix the critical challenges on the continent – infrastructure, transportation, and power. That is the only way to attract foreign direct investments. It is the only way for us to move forward from developing to developed continent.”
Elumelu, according to her, will also emphasise the urgency to transform the continent through African-led solutions and private sector growth, citing the organisation’s track record of success – having founded the United Bank for Africa UBA and scaling up to become one of Africa’s leading financial services groups, with presence in twenty African countries, New York, Paris and London, as well as growing its investment holding company, Heirs Holdings, and employing over 30,000 African – typifies a new generation of African business dynamism.
A second anchor of his message will rest on empowering African youths to unleash the potential of the continent and provide sustainable solutions to the global problem of illegal migration, Ugochukwu said.
“He will push this narrative as the Founder of the Tony Elumelu Foundation, a philanthropy that is committed to changing the narrative of Africa to one that’s all about a continent of opportunities. We have experienced, firsthand, the results that hope yields. When we work together and create the environment for these young, passionate people to create their own luck, we create hope for the entire continent.”
Thirdly, Ugochukwu explained that nothing fosters industrialisation faster than bilateral trade relationships. She thus noted that with Africa’s youth demographic boom, there is no doubt that the continent will become the world’s greatest source of talent in a few years. Therefore, there is an urgency to develop the quality of talent arising from Africa to match global demands, she said. Pointing out that Japan has a lot to benefit from investing in and partnering with Africa. “Working collaboratively will create prosperity for all”
Elumelu is scheduled to deliver the keynote address at the plenary public-private business dialogue of the conference.
There, he will speak alongside presidents and business leaders including Shinzo Abe, Prime Minister, Japan; Abdel-Fattah El-Sisi, President, Egypt and Chair, African Union (AU); Muhammadu Buhari, President, Nigeria; and Cyril Ramaphosa, President, South Africa, on the expectations of a thriving African private sector and the optimism of a renewed Japan-Africa partnership that prioritises investments, bilateral trade, entrepreneurship and job creation for Africa’s youth population.
Following the welcome address by Shinzo Abe, the Japanese prime minister, Elumelu will also deliver the keynote address at the official Business Forum, hosted by the Japan External Trade Organisation (JETRO).
As part of his engagements, he will join Paul Kagame, President of Rwanda and Co-Chair of the Leaders’ Group of Generation Unlimited and Henrietta Fore, UNICEF executive director at a breakfast meeting focused on catalysing investments in African youths and developing a specific vision for job creation in Africa.
Ugochukwu noted that Africa needs your support to succeed; and not just yours, but all of us working collaboratively and with commitment towards building the Africa we yearn for.
She encouraged that interaction and the founder’s conversation be followed on social media via :
Facebook – @TonyElumelu, Tony Elumelu Foundation, Heirs Holdings
Twitter – @TonyOElumelu, Tony Elumelu Foundation, Heirs Holdings
Instagram – @TonyOElumelu, Tony Elumelu Foundation, Heirs Holdings
Linkedin – @TonyElumelu, Tony Elumelu Foundation, Heirs Holdings