Africapitalism champ, Tony Elumelu joins IMF Advisory Council to drive global entrepreneurship, growth
Onome Amuge
Tony Elumelu, founder and group chair of Heirs Holdings, has been appointed by the International Monetary Fund (IMF) to its Advisory Council on Entrepreneurship and Growth, convened by Kristalina Georgieva, IMF managing director, in a notable recognition of the former’s entrepreneurial and advocacy efforts.
Elumelu, Africa’s leading advocate of entrepreneurship and whose Foundation has funded, mentored and trained over 25,000 African entrepreneurs since 2015, champions entrepreneurship as the engine for the economic transformation of Africa.
A renowned self-made entrepreneur, Elumelu’s embracing of entrepreneurship is considered fundamental to his concept of Africapitalism, his belief that Africa’s private sector can and must play a leading role in the continent’s development, making long-term investments that deliver social and economic value.
The Advisory Council comprises global business leaders, policymakers, and academics, dedicated to identifying and addressing regulatory barriers to entrepreneurship. Its mandate is to recommend policies that enhance resource allocation, stimulate innovation, and catalyse sustainable private sector-led economic growth.
Following his appointment, Elumelu will be instrumental in ensuring that Africa’s entrepreneurial potential is central to global economic policymaking.
Other members of the Council include: Ufuk Akcigit, Harberger Professor of Economics, University of Chicago; Reema Bandar Al-Saud, Saudi Ambassador to the United States; Marc Beniof, chair, CEO, and co-founder of Salesforce, Ana Botín, executive chair, Banco Santander; Natarajan Chandrasekaran, chairman, Tata Group; Margherita Della Valle, chief executive, Vodafone Group; Robert Smith, founder, chairman and CEO, Vista Equity Partners; and Federico Sturzenegger, Argentine minister of deregulation and state transformation,.
Speaking at the recently concluded inaugural meeting of the Advisory Council, Kristalina Georgieva, the IMF managing director, noted that the Council brings together a group of leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth.