Elumelu: Only Africans Can Develop Africa

The founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has said that the private sector in Africa countries must be the leading player in contributing to the continent’s economic transformation, arguing that no one can develop the continent but Africans

A statement from the TEF Thursday said Elumelu made the remark in Washington, DC where he delivered a lecture to the International Finance Corporation (IFC), as well as participated in a plenary panel at the Global Philanthropy Forum (GPF) this week. Elumelu, who is also the Chairman of Heirs Holdings – an African proprietary investment company with a long-term investment horizon said: “We are now the world’s fastest growing region. There is a social and economic impact to be derived, but it needs to be done with the right approach – with African leadership and with the private sector, rather than from a charitable orientation.”



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