KEY POINTS
- Tony Elumelu says Africa needs investors, not charity.
- He calls for entrepreneurship-led, equal partnerships with the world.
- SMEs and youth innovation are key to Africa’s transformation.
Renowned entrepreneur and philanthropist Tony Elumelu has called for a bold rethinking of Africa’s engagement with the world, urging a move away from charity-based models toward investment, entrepreneurship, and equal partnership.
Speaking at a high-level Africa–Europe summit on economic cooperation and sustainable development on Monday, Elumelu said, “Africa needs partners, not charity. Our future will not be built by aid, but by partnership, and entrepreneurship and investment in Africa.”
His remarks come as Africa stands at a crossroads rich in opportunity but still grappling with deep structural challenges after decades of aid-driven interventions.
Investing in Africa’s future through entrepreneurship
Elumelu said that Africa’s young population, abundant natural resources, and expanding atmosphere for new ideas provide investors a lot of opportunity to grow in a way that is good for everyone and lasts.
He argued that investment in Africa by providing small and medium-sized firms (SMEs) and young entrepreneurs more power is the key to unlocking the continent’s full economic potential. “The time has come to redefine the relationship between Africa and the world, one based on dignity, respect, and shared prosperity,” he said.
The summit brought together policymakers, investors, and business leaders from both continents to strengthen trade ties and encourage long-term private investment in Africa’s development.
