Tony Elumelu, a Nigerian business mogul, spoke at the World Government Summit in Dubai about Africa’s potential as a top investment destination. He emphasized that Africa’s youthful population, with a median age of 19 and 65% under 30, is a goldmine for investment, innovation, and economic growth. Elumelu, who has a diversified portfolio across four continents, confidently stated that no other region offers the kind of return on investment that Africa does.
He highlighted the transformative impact of Heirs Holdings Group, which can generate 2,000MW of electricity daily, with a current output of approximately 1,000MW. He pointed out that Africa’s infrastructure, energy, and transportation challenges present golden opportunities for investors. Elumelu urged business leaders to use the continent’s rapid urbanization, expanding markets, and youthful workforce to drive economic transformation.
Africa’s investment opportunities highlighted
“The returns are undeniable, the opportunities are limitless, and the future is ours to shape,” he concluded. “Let’s build a prosperous, self-sustaining Africa together.”
As part of its initiative to address poverty in Africa, Heirs Holdings Group has created 1.5 million jobs and generated $4.2 billion in revenue across the continent.
The Tony Elumelu Foundation, which focuses on empowering African entrepreneurs, has disbursed $100 million to fund the businesses of 21,000 African youths. The Foundation’s online portal, TEFConnect, has trained 2.5 million Africans, lifting over 2 million individuals out of poverty. Elumelu emphasized the role of entrepreneurship in unlocking Africa’s untapped potential, stating that entrepreneurs are the innovators, dreamers, and builders who can transform their lives and entire economies.
Elumelu praised the creativity of African youths, noting that their impact is evident in their communities and across the continent. He urged African youths to explore ways to be part of the mission to drive meaningful and sustainable impact. He stated that Africa will rise through deliberate action and people who refuse to accept the status quo.