Founder and Group Chairman of Heirs Holdings, Tony Elumelu, has urged world leaders to replace aid focused engagement with investments capable of creating jobs, expanding electricity access and developing critical infrastructure across Africa.
Elumelu spoke at the 2026 Africa Forward Summit convened by Kenyan President William Ruto and French President Emmanuel Macron.
Addressing heads of government, investors and business leaders, he said Africa needed partnerships based on equality, shared value and long term economic opportunity.
He maintained that infrastructure and reliable electricity were essential for industrialization, poverty reduction and sustainable employment.
According to Elumelu, the private sector must play a central role in mobilizing the capital required to finance the continent’s development.
“We welcome genuine partnerships based on substance and equity, where African solutions help shape Africa’s future,” he said.
Elumelu noted that more than 65 per cent of Africa’s population is below the age of 35.
He said this demographic advantage would produce meaningful results only when young people have access to employment, electricity, technology and the internet.
“Our young people do not need handouts. They need jobs, improved access to electricity and the ability to participate in the digital economy,” he said.
Elumelu also highlighted the work of the Tony Elumelu Foundation, which he said had provided entrepreneurship training to 2.5 million young Africans and funded more than 27,000 entrepreneurs in all 54 African countries.
He encouraged African governments to create operating environments capable of attracting credible private investment.
Elumelu said Africa must adopt a development mindset centered on prosperity, enterprise, job creation and poverty reduction.
His remarks reflected the wider investment strategy of Heirs Holdings in power, financial services, healthcare, hospitality and technology.
The summit concluded with commitments to strengthen cooperation among governments, development institutions and private investors.
