Africa’s Future will be Shaped By Entrepreneurship and Partnerships, Tony Elumelu

Tony O. Elumelu CFR, Founder & Chairman, Hiers Holdings, and Group Chairman of United Bank for Africa, delivered a powerful call for Africa to embrace entrepreneurship, private-sector investment, and stronger partnerships as the pathway to sustainable economic transformation across the continent.

Addressing Heads of State, policymakers, investors, entrepreneurs, and business leaders gathered at the Africa Forward Summit 2026 held in Nairobi Kenya, Elumelu emphasized that Africa’s future cannot rely on aid dependency but must instead be driven by African entrepreneurs, innovative businesses, and strategic investments capable of unlocking the continent’s enormous economic potential.

“Africa’s future will not be built by aid, but by entrepreneurship, investment, and bold partnerships,” Elumelu stated.

The renowned investor and philanthropist noted that Africa possesses one of the youngest and fastest-growing populations in the world, a factor he described as both a challenge and an opportunity.

According to Elumelu, empowering young entrepreneurs and supporting small and medium-sized enterprises will be critical in creating jobs, driving industrialization, and accelerating inclusive economic growth across African economies.

He further stressed the importance of collaboration between governments, financial institutions, development agencies, and the private sector in creating an enabling environment for businesses to thrive.

Elumelu observed that sustainable development would require long-term commitments toward infrastructure development, access to affordable financing, digital transformation, and the expansion of intra-African trade.

The summit served as a reminder of what lies ahead for Africa as the continent continues to build stronger partnerships, unlock innovation, and shape its own economic future. It brought together leaders from across Africa and Europe to reflect on the opportunities before us from expanding trade and investment to strengthening local industries, empowering entrepreneurs, and accelerating sustainable growth.

At the heart of the conversations was a shared vision of a more connected, competitive, and self-driven Africa, one where African businesses can scale beyond borders, innovation can thrive, and strategic collaboration can create lasting impact for future generations.

Elumelu also highlighted that over 65 percent of the population in Africa is young. They need jobs, access to financing and enablement to access the internet and AI bandwagon. The of role of financial institutions such as UBA continues to play in supporting young entrepreneurs through access to capital and banking solutions. He reiterated his long-standing belief that entrepreneurship remains the most sustainable solution to unemployment and poverty on the continent.

His remarks resonated strongly with delegates, especially at a time when many African economies are seeking new strategies to drive economic resilience, attract foreign direct investment, and strengthen regional integration under frameworks such as the African Continental Free Trade Area (AfCFTA).

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