Tony Elumelu Urges Nigerians to Embrace Africapitalism

Tony Elumelu Urges Nigerians to Embrace Africapitalism

Nigerian Africapitalist and philanthropist, Tony Elumelu, passionately urges both Nigerians and all Africans to embrace the concept of Africapitalism. He emphasizes the importance of investing in long-term projects that not only combat poverty but also generate job opportunities and foster inclusive empowerment for women throughout Africa.

During his recent engagements, including his participation in the New Global Financing Summit alongside President Macron and his invitation to join King Charles and US President Joe Biden for the Climate Finance Mobilization Forum, Tony Elumelu consistently highlights the pressing issue of inequalities affecting Africans. He underscores the necessity of incorporating African strategies to address the continent’s current energy deficit.

At the United Nations General Assembly (UNGA78), where the theme revolves around “Rebuilding Trust and Reigniting Global Solidarity: Accelerating Action on the 2030 Agenda and its Sustainable Development Goals towards Peace, prosperity, progress, and Sustainability for All,” Tony Elumelu sheds light on his foundation’s remarkable efforts to empower young African entrepreneurs spanning all 54 African nations. He champions initiatives focused on youth empowerment, entrepreneurship, equitable climate solutions, narrowing the digital divide, and advancing women’s empowerment.

The Nigerian entrepreneur and Philanthropist, Tony Elumelu established an African philanthropic organization in 2010 called Tony Elumelu Foundation (TEF). His primary mission is to promote entrepreneurship and economic development across Africa. The foundation is known for its flagship program, the Tony Elumelu Entrepreneurship Programme (TEEP), which provides funding, training, mentoring, and networking opportunities to aspiring African entrepreneurs.

TEEP selects and supports thousands of entrepreneurs from across Africa annually, empowering them to transform their business ideas into successful ventures. Beyond financial assistance, TEF places a strong emphasis on mentorship and capacity-building, aiming to create a new generation of African entrepreneurs who can drive economic growth, create jobs, and address pressing social issues.

In addition to the entrepreneurship program, the Tony Elumelu Foundation is actively involved in advocacy and research on entrepreneurship and economic development in Africa. Through its various initiatives, the foundation strives to foster a culture of entrepreneurship, innovation, and sustainable business practices on the continent, contributing to Africa’s economic transformation and development.

Tony Elumelu is widely recognized for his outstanding entrepreneurial performance and contributions to business and philanthropy in Africa. He is the founder and chairman of Heirs Holdings, a pan-African investment company with interests in various sectors, including financial services, energy, real estate, and healthcare.

As the founder of Heirs Holdings, Tony Elumelu has been instrumental in driving investments in critical sectors across Africa. The company’s diverse portfolio reflects his commitment to long-term, sustainable economic growth on the continent.

His leadership roles in the banking industry, most notably as the CEO of United Bank for Africa (UBA), where he transformed the bank into a leading pan-African financial institution. His expertise in banking has had a lasting impact on the African financial sector.

Elumelu’s philanthropic efforts extend beyond entrepreneurship. He has championed various social and economic causes, including poverty eradication, job creation, and women’s empowerment, making a tangible impact on the lives of many Africans.

He has been at the forefront of advocating for the advancement of African youth throughout the continent, consistently engaging with and tackling the broader issues that impact Africa as a whole.

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