{"id":219,"date":"2025-10-24T08:59:27","date_gmt":"2025-10-24T08:59:27","guid":{"rendered":"https:\/\/africahalloffame.org\/Home\/?p=219"},"modified":"2025-10-24T08:59:27","modified_gmt":"2025-10-24T08:59:27","slug":"tony-elumelu-urges-african-investors-earn-globally-but-invest-at-home","status":"publish","type":"post","link":"https:\/\/africahalloffame.org\/Home\/tony-elumelu-urges-african-investors-earn-globally-but-invest-at-home\/","title":{"rendered":"Tony Elumelu Urges African Investors: \u201cEarn Globally, But Invest at Home\u201d"},"content":{"rendered":"

\"\"Nigerian entrepreneur, banker, and philanthropist Tony Elumelu<\/strong> has once again called on African investors to channel their wealth and resources back into their home economies, emphasizing that Africa\u2019s path to sustainable prosperity lies in local investment, strong policy frameworks, and trust between government and the private sector.<\/p>\n

Speaking at the Abuja Business and Investment Summit & Expo 2025<\/strong>, held under the theme \u201cEmpowering Sustainable Growth: Unlocking Potential in Emerging Markets,\u201d<\/em> Elumelu \u2014 Chairman of Heirs Holdings<\/strong> and United Bank for Africa (UBA) Plc<\/strong> \u2014 urged African policymakers to prioritize stability, transparency, and predictability in governance. These, he said, are essential ingredients for attracting both local and foreign investment.<\/p>\n

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\u201cNo nation has achieved sustained prosperity without a vibrant private sector,\u201d Elumelu declared. \u201cAfrica\u2019s economic destiny will not be shaped by aid or charity, but by empowering businesses to grow under consistent and transparent policies.\u201d<\/p>\n<\/blockquote>\n

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The Private Sector: Africa\u2019s Engine for Growth<\/h3>\n

According to Elumelu, the private sector remains the backbone of Africa\u2019s economic transformation. He pointed out that private enterprises contribute more than 70 percent of Africa\u2019s Gross Domestic Product (GDP)<\/strong> and account for over 80 percent of employment opportunities<\/strong> across the continent.<\/p>\n

He highlighted that countries that have managed to create enduring prosperity \u2014 from Asia to Europe \u2014 share one thing in common: a thriving private sector operating under stable policy conditions. Africa, he noted, must adopt a similar approach if it hopes to unleash its full economic potential.<\/p>\n

\u201cEntrepreneurs are the real catalysts for transformation,\u201d he explained. \u201cWhen governments create the right environment, business leaders and innovators can do what they do best \u2014 create jobs, stimulate industries, and build wealth.\u201d<\/p>\n

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\u201cTrust Is the Currency of Investment\u201d<\/h3>\n

Elumelu\u2019s comments were grounded in decades of experience navigating Africa\u2019s often unpredictable business terrain. Through UBA<\/strong>, which operates in 20 African countries, and Heirs Holdings<\/strong>, with interests in financial services, energy, hospitality, and real estate, Elumelu has witnessed firsthand how inconsistent policy decisions can erode investor confidence.<\/p>\n

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\u201cTrust is the true currency of investment,\u201d he said. \u201cPolicy stability converts trust into capital. Investors \u2014 both local and foreign \u2014 need to know that the rules won\u2019t suddenly change overnight.\u201d<\/p>\n<\/blockquote>\n

He stressed that while African leaders often call for increased foreign direct investment (FDI), they must also recognize that local investors form the foundation of confidence in any economy. \u201cIf African governments do not build trust with their own business communities,\u201d he warned, \u201cforeign investors will remain hesitant.\u201d<\/p>\n

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Proof of Concept: Private Capital Driving Real Development<\/h3>\n

To illustrate how private capital can transform economies, Elumelu cited several initiatives spearheaded by his companies in Nigeria. The revitalisation of the Transcorp Hilton Abuja<\/strong>, the creation of the Transcorp Event Centre<\/strong>, and reforms implemented within the Abuja Electricity Distribution Company<\/strong> are, in his view, clear examples of what can be achieved when policy frameworks support private enterprise.<\/p>\n

\u201cThese projects are not just about profit,\u201d he said. \u201cThey are about impact \u2014 creating jobs, supporting communities, and improving infrastructure. This is what happens when the private sector and government work together with mutual respect and shared purpose.\u201d<\/p>\n

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The Infrastructure Challenge: Africa\u2019s $108 Billion Gap<\/h3>\n

Elumelu\u2019s message aligns closely with recent findings by the African Development Bank (AfDB)<\/strong>, which reports that Africa faces an annual infrastructure financing deficit of approximately $108 billion<\/strong>. This gap, if not addressed, continues to hinder trade, investment, and industrialization efforts across the continent.<\/p>\n

Despite Africa\u2019s growing influence in global arenas such as trade, entertainment, sports, and politics, persistent challenges \u2014 including policy uncertainty, high youth unemployment, mounting debt, and skill shortages<\/strong> \u2014 continue to constrain economic growth. Elumelu argued that addressing these issues requires not only financial commitment but also strategic collaboration between the public and private sectors.<\/p>\n

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\u201cGovernments must move from seeing the private sector as competitors or adversaries,\u201d he said, \u201cand instead view us as partners in nation-building.\u201d<\/p>\n<\/blockquote>\n

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A Call for a New Social Contract<\/h3>\n

In what he described as a \u201cnew social contract,\u201d Elumelu called for a reimagined partnership between African governments and the business community \u2014 one grounded in trust, transparency, and accountability<\/strong>. He emphasized that sustainable growth will only be possible when both sides recognize their shared responsibilities.<\/p>\n

\u201cGovernment\u2019s role is to create an enabling environment,\u201d he explained. \u201cThe private sector\u2019s role is to invest, innovate, and deliver solutions. Together, we can create a future where African economies no longer depend on aid but thrive on enterprise.\u201d<\/p>\n

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\u201cMake Your Money \u2014 But Invest It at Home\u201d<\/h3>\n

Perhaps his most powerful message was directed at African investors themselves. Elumelu urged them to demonstrate faith in their own markets by reinvesting profits within the continent rather than parking capital in foreign economies.<\/p>\n

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\u201cHow can we expect foreign investors to invest in us if we ourselves do not invest in our own economies?\u201d he asked pointedly. \u201cBy all means, make your money \u2014 but please bring it home. Invest locally. It is an act of patriotism, and it is how we build lasting prosperity for our children and our continent.\u201d<\/p>\n<\/blockquote>\n

Elumelu warned that the growing trend of capital flight \u2014 where African wealth is stored abroad instead of being reinvested locally \u2014 undermines domestic growth and widens inequality. \u201cIt is a huge disservice to our nations,\u201d he said. \u201cWe must believe in Africa enough to invest in Africa.\u201d<\/p>\n

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Looking Ahead: Building Africa\u2019s Economic Future<\/h3>\n

Elumelu concluded his address by reiterating that Africa\u2019s transformation will not come from external aid or sporadic reforms, but from consistent, visionary leadership and empowered entrepreneurship. With Africa\u2019s young population, expanding markets, and abundant natural resources, he said the continent has all the ingredients for success \u2014 if only it can build the right foundation of trust and stability.<\/p>\n

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\u201cThe future of Africa is in our hands,\u201d he said. \u201cLet us invest in our people, our businesses, and our communities. Let us create the Africa we want \u2014 one investment at a time.\u201d<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Nigerian entrepreneur, banker, and philanthropist Tony Elumelu has once again called on African investors to channel their wealth and resources back into their home economies, emphasizing that Africa\u2019s path to sustainable prosperity lies in local investment, strong policy frameworks, and trust between government and the private sector. Speaking at the Abuja Business and Investment Summit […]<\/p>\n","protected":false},"author":1,"featured_media":220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"ppma_author":[159],"class_list":["post-219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","author-helloafrica"],"authors":[{"term_id":159,"user_id":1,"is_guest":0,"slug":"helloafrica","display_name":"Michael Peters","avatar_url":{"url":"https:\/\/africahalloffame.org\/Home\/wp-content\/uploads\/2026\/02\/cropped-FFB50F59-0D6C-491C-BACA-64123F72D056.jpg","url2x":"https:\/\/africahalloffame.org\/Home\/wp-content\/uploads\/2026\/02\/cropped-FFB50F59-0D6C-491C-BACA-64123F72D056.jpg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/posts\/219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/comments?post=219"}],"version-history":[{"count":1,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/posts\/219\/revisions"}],"predecessor-version":[{"id":221,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/posts\/219\/revisions\/221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/media\/220"}],"wp:attachment":[{"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/media?parent=219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/categories?post=219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/tags?post=219"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/africahalloffame.org\/Home\/wp-json\/wp\/v2\/ppma_author?post=219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}