Amanze Chinonye
Founder and Chairman of Heirs Holdings, Tony O. Elumelu, has called for a shift from aid-driven policies to strategic economic partnerships capable of unlocking Africa’s development potential.
Speaking at the 2026 Africa Forward Summit convened by William Ruto and Emmanuel Macron, Elumelu said Africa was ready for partnerships founded on equality and long-term investment rather than dependency.
“We welcome true partnerships partnerships of substance and based on equity where Africans and African solutions catalyse Africa’s future,” he said while addressing heads of state, investors, and global business leaders at the summit.
Join our WhatsApp ChannelREAD ALSO :
The businessman stressed that Africa’s economic transformation would depend heavily on investments in electricity and infrastructure, insisting that the private sector must play a central role in mobilising the capital required for sustainable growth.
According to him, creating the right business environment would stimulate investment, generate employment opportunities, reduce poverty, and drive prosperity across the continent.
“The private sector is what will help us mobilise capital to drive investment in infrastructure and electricity. These are two critical requirements for the economic prosperity and development of Africa,” Elumelu stated.
With Africa’s youth population continuing to expand, Elumelu rejected what he described as a “victim mentality,” arguing that young Africans require opportunities rather than charity.
“In Africa, we have a young population. There is no room for victim mentality. Our youth do not need handouts; they need jobs, improved access to electricity, and opportunities to connect to the internet,” he said.
He added that improved infrastructure and digital connectivity would enable young Africans to maximise their potential and contribute meaningfully to economic growth.
READ MORE :
Tony Elumelu’s Influence: Seplat’s Share Hits Highest Price In Company’s History
Elumelu also highlighted the impact of the Tony Elumelu Foundation, noting that the organisation has provided training access to about 2.5 million young Africans and funded more than 27,000 entrepreneurs across all 54 African countries.
He further urged African nations to embrace credible global partnerships capable of accelerating development on the continent.
“It is a good place to be as Africans now. We should embrace those who want to help us catalyse growth in Africa,” he said, adding that Africa remains one of the fastest-growing regions in the world.
The summit concluded with renewed calls for stronger collaboration among governments, development institutions, and private sector stakeholders to accelerate inclusive economic growth and strengthen Africa’s position in the global economy.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
