Tony Elumelu, Chairman of United Bank for Africa (UBA) Group and founder of the Tony Elumelu Foundation, is a leading advocate for African entrepreneurship and inclusive growth. Speaking at the IMF/World Bank Meetings seminar on “Boosting Productivity Growth in the Digital Age,” he reiterated his commitment to driving private-sector-led development across the continent.
Elumelu emphasized the vast potential of Africa’s estimated $4 trillion in domestic capital, calling for its strategic mobilization through transparent public-private partnerships. He argued that unlocking local savings and investment would ease pressure on fiscal budgets, bridge infrastructure gaps, and boost energy and digital access.
Mobilizing domestic capital, Elumelu said, will expand electricity access, enhance productivity, and create jobs for Africa’s young population. He stressed that trust, transparency, and good governance are essential to attract private investment and ensure inclusive, sustainable development across the continent.
