Founder and Group Chairman of Heirs Holdings, Mr. Tony Elumelu, has urged global leaders to move beyond aid-based engagement with Africa, insisting that the continent’s young population requires jobs, electricity, and infrastructure, not handouts, to unlock its economic potential.
Speaking at the 2026 Africa Forward Summit, convened by Kenyan President William Ruto and French President Emmanuel Macron, Elumelu told the audience of heads of state, investors, and business leaders that Africa was seeking partnerships built on equality and shared value rather than patronage.
He maintained that the continent’s development would be driven by strategic investments in infrastructure and power, with the private sector playing a leading role in mobilising the capital required for sustainable economic growth.
“We welcome true partnership, partnerships of substance and based on equity where Africans and African solutions catalyse Africa’s future,” Elumelu said.
According to him, reliable electricity and critical infrastructure remain the foundation for industrialisation, job creation, and poverty reduction across the continent.
Elumelu stated, “The private sector is what will help us mobilise capital to drive investment in infrastructure, investment in electricity. These are two critical requirements for the economic prosperity and development of Africa.
“If we create the right operating environment, we will create jobs for our people. We will alle
Addressing Africa’s demographic advantage, Elumelu stressed that with more than 65 per cent of the continent’s population under the age of 35, governments and development partners should prioritise creating opportunities rather than expanding aid programmes.
He explained, “In Africa, we have a young population. There is no room for victim mentality.
“Our youth do not need handouts; they need jobs, they need improved access to electricity, they need to join the internet.
“What is important is providing this enablement, this infrastructure requirement, so that our young ones can realise their potential.”
Elumelu also highlighted the impact of the Tony Elumelu Foundation (TEF), stating that it has provided entrepreneurship training to 2.5 million young Africans and funded more than 27,000 entrepreneurs across all 54 African countries, making it one of the continent’s largest entrepreneurship support platforms.
He encouraged African nations to embrace credible international partners willing to invest in the continent’s long-term growth.
Elumelu said, “It is a good place to be at, as Africans, now. We should embrace those who want to help us catalyse growth in Africa. And let us not forget Africa is the fastest growing region globally and it is not just demographics.”
Calling for a shift in thinking, Elumelu stated, “In the 21st century, the mind-set must change. It should be a mind-set that embraces economic prosperity and development, a mind-set that creates the environment that will help us alle
His participation at the summit reflects Heirs Holdings’ broader strategy of investing in sectors considered critical to Africa’s transformation, including power, financial services, healthcare, hospitality and technology.
The Africa Forward Summit concluded with renewed commitments from governments, development institutions, and private sector leaders to strengthen collaboration aimed at accelerating inclusive economic growth and enhancing Africa’s role in the global economy.
