Tony Elumelu: Championing Africa’s Economic Future at the Future Investment Initiative
Tony Elumelu, a prominent figure in African business and philanthropy, is set to co-chair the New African Summit at the upcoming eighth edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia. As the Chairman of Heirs Holdings and the United Bank for Africa (UBA), as well as the Founder of The Tony Elumelu Foundation (TEF), Elumelu brings a wealth of experience and insight to this prestigious event. Themed “Infinite Horizons,” this year’s FII aims to gather influential leaders from around the globe to explore how investment can act as a catalyst for a prosperous and sustainable future.
Africa Takes Center Stage
At the FII, Africa will be a focal point of discussion, with Elumelu advocating for entrepreneurship and youth investment as key drivers of economic growth and development on the continent. As one of the most prominent voices in Africa’s transformation agenda, he will leverage his platform to highlight the importance of empowering a new generation of entrepreneurs. Through the Tony Elumelu Foundation, which has become a leading philanthropic initiative in Africa, Elumelu has been instrumental in driving poverty eradication and job creation across the continent.
A Platform for Changemakers
On October 29, Elumelu will participate in the Opening Plenary panel titled “Board of Changemakers: Banking & Investment.” This session will explore whether visionary leaders can create new economic systems that embrace innovation. Elumelu’s insights, drawn from his extensive experience in banking and investment, will be invaluable as the panel discusses the future of economic systems in a rapidly changing world.
Heirs Holdings: A Diverse Leadership Presence
The Future Investment Initiative will also showcase the breadth of Heirs Holdings’ investment portfolio through the participation of other senior executives. Owen Omogiafo, President and Group CEO of Transcorp Group, will join a panel of global female leaders at the HERizon Summit, discussing how women can power sustainable supply chains in the energy sector. Transcorp Group is recognized as one of Africa’s leading listed companies, with strategic investments aimed at improving lives and transforming the continent.
Osa Igiehon, CEO of Heirs Energies, will share his expertise on energy transition and security, focusing on how green investments can power Africa’s future. Heirs Energies has made significant strides in Nigeria, contributing to energy self-sufficiency through rapid expansion in oil and gas production, which aligns with Heirs Holdings’ integrated energy strategy.
Additionally, Muyiwa Akinyemi, Deputy Managing Director of UBA Group, will participate in a roundtable session, drawing on his extensive career with Africa’s Global Bank. UBA’s presence in the Gulf Cooperation Council (GCC) region is pivotal in fostering stronger economic ties between Africa and the Gulf, reflecting a commitment to cross-border investment and sustainable growth.
The Role of Youth Entrepreneurship
The Tony Elumelu Foundation will host a plenary session on the sidelines of FII, focusing on youth entrepreneurship and its critical role in creating shared prosperity across Africa. Elumelu has long championed Africapitalism, advocating for entrepreneurship as a means to accelerate economic growth on the continent. His participation at FII will serve to highlight the vast investment opportunities available in Africa, particularly in the realm of youth-led enterprises.
A Vision for Shared Prosperity
In his own words, Elumelu stated, “The relationship between Africa and the Gulf has evolved to be a thriving economic partnership, driving growth across both regions. I am proud to co-chair the New Africa Summit at FII, where we will explore mutually beneficial investment opportunities between Africa and the Gulf and highlight the key role entrepreneurship plays in transforming visions into ventures. Together, Africa and the Gulf are building a legacy of shared prosperity for a better tomorrow.”
About Tony Elumelu
Tony Elumelu, a Nigeria-born entrepreneur, businessman, and philanthropist, was recognized by Time as one of the world’s most influential people in 2020. He serves as the Chairman of Heirs Holdings, a leading family-owned investment company, and of UBA, a global bank with a presence across four continents. Named one of the 50 wealthiest Africans by Forbes, Elumelu has committed $100 million of his fortune to support 20,000 entrepreneurs across 54 African countries through the Tony Elumelu Foundation.
Conclusion
As the Future Investment Initiative approaches, Tony Elumelu’s leadership and vision will undoubtedly play a crucial role in shaping discussions around Africa’s economic future. His commitment to entrepreneurship and investment in youth will serve as a beacon of hope and opportunity, inspiring a new generation of leaders to drive sustainable growth and prosperity across the continent.