Doha, Qatar – May 20, 2025 — At the 2025 Qatar Economic Forum, powered by Bloomberg, Tony O. Elumelu, Chairman of Heirs Holdings and United Bank for Africa (UBA), delivered a compelling message: Africa is not just open for business—it is primed for transformative investment. During the "Banking 2025: The New Growth Playbook" session, Elumelu emphasized the continent's vast potential, highlighting its youthful population and untapped markets. He stated, "Africa's demographic advantage, with a median age of 19, positions it uniquely for economic expansion. Investing in our youth is investing in a prosperous global future." Elumelu's insights align with his longstanding advocacy for empowering African entrepreneurs through the Tony Elumelu Foundation (TEF). Since its inception in 2010, TEF has supported over 20,000 entrepreneurs across the continent, providing training, mentorship, and seed capital. In a significant move earlier this year, TEF partnered with the Khalifa Bin Zayed Al Nahyan Foundation of the UAE to support 1,000 African entrepreneurs with $5,000 in seed capital each.
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This $6 million initiative underscores the growing collaboration between Africa and the Gulf region. Elumelu remarked, "Empowering entrepreneurs is not just a moral imperative but a strategic investment in Africa’s future." He emphasized that such partnerships are crucial for driving inclusive growth and fostering economic resilience across the continent. Elumelu's address at the forum was not just a reflection on past achievements but a clarion call for global investors to recognize and act upon Africa's potential. He urged stakeholders to move beyond outdated perceptions and to see Africa as a land of opportunity, ripe for investment in sectors ranging from energy and infrastructure to technology and agriculture."The returns are undeniable, the opportunities are limitless, and the future is ours to shape," Elumelu asserted, reinforcing his belief in Africa's capacity to drive global economic transformation.As the 2025 Qatar Economic Forum continues, Elumelu's message resonates with a broader narrative: that Africa is not merely a participant in global development but a pivotal player. Through strategic investments, robust partnerships, and a focus on youth empowerment, the continent stands poised to redefine its economic trajectory and contribute meaningfully to the global economy.
In conclusion, A Vision for Economic Transformation summary, Elumelu's message at the Qatar Economic Forum was cautious optimism. He acknowledged the challenges Nigeria faces but urged both the government and the private sector to remain committed to the reforms necessary for economic stabilization and growth. His insights underscore the importance of confidence, structural reforms, and private sector involvement in shaping Nigeria's economic future.
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