Founder and Chairman of Heirs Holdings, Tony Elumelu, has called for a new approach to Africa’s global partnerships, saying the continent needs investment in power and infrastructure rather than dependence on foreign aid.
Speaking at the 2026 Africa Forward Summit hosted by Kenyan President William Ruto and French President Emmanuel Macron, Elumelu told world leaders, investors and business executives that Africa is ready for partnerships built on equality, shared value and African-led solutions.
According to a statement from Heirs Holdings, Elumelu said Africa’s future must be driven by collaborations that empower the continent economically instead of promoting dependency.
He stressed that access to electricity and modern infrastructure remains critical to Africa’s growth, adding that the private sector has a major role to play in attracting capital and driving development across the continent.
Elumelu explained that creating a business-friendly environment would unlock investments, create jobs for millions of Africans and help reduce poverty.
The billionaire businessman also highlighted Africa’s youthful population, noting that more than 65 per cent of Africans are under the age of 35. He said the continent’s young people do not need sympathy or handouts, but opportunities, stable electricity, internet access and the right environment to succeed.
According to him, empowering young Africans through infrastructure and economic opportunities is the key to unlocking the continent’s full potential.
Elumelu further revealed that the Tony Elumelu Foundation has trained over 2.5 million young Africans in entrepreneurship and funded more than 27,000 entrepreneurs across all 54 African countries, making it one of the continent’s biggest entrepreneurship support platforms.
He also said Africa should remain open to genuine partnerships with credible international investors and institutions willing to support the continent’s economic transformation.
Elumelu described Africa as one of the world’s fastest-growing regions and urged leaders to adopt a mindset focused on economic prosperity, job creation and sustainable development.
He added that his participation at the summit reflects Heirs Holdings’ long-term commitment to investing in strategic sectors including power, healthcare, technology, hospitality and financial services to drive Africa’s economic growth.
The 2026 Africa Forward Summit ended with renewed calls for stronger collaboration between governments, private investors and development institutions to accelerate inclusive growth across Africa.
