Tony O. Elumelu is renown for his significant contributions to Africa’s economic growth and entrepreneurship. He is the Founder & Chairman of Heirs Holdings (a pan-African investment company with interests in financial services, energy, real estate, and healthcare); Chairman of United Bank for Africa – UBA (a leading financial institution operating in over 20 African countries); and Chairman of Transcorp (a diversified conglomerate with investments in power, hospitality, and Oil & Gas).
Beyond business, Elumelu is Founder of the Tony Elumelu Foundation (TEF), which drives entrepreneurship across Africa through its flagship $100 million TEF Entrepreneurship Programme, supporting thousands of startups and SMEs. He is a strong advocate for “Africapitalism,” a philosophy that emphasises private sector-driven development as the key to transforming the continent.
Elumelu recently shared his thoughts on prospects for Africa at the 2025 World Government Summit (Dubai) – a global platform that sets the agenda for leaders and policymakers to debate how the next generation of governments can harness innovation and technology to solve the challenges facing humanity today and in the future.
Rethinking Risk: Why Africa Offers the Best ROI for Investors
“Why is the perception of risk towards Africa so skewed? As an investor with a diversified portfolio across 4 continents—from power to oil & gas, financial services, and healthcare—I can tell you one thing: nowhere else offers the kind of ROI that Africa does.
“Take our Heirs Holdings Group for example. We have the capacity to generate 2,000MW of electricity daily, and today, with available capacity of circa 1000MWs-That’s transformative impact and significant value creation on a continent where energy access remains a key challenge.
“Africa’s greatest asset? Its people. With a median age of 19 and 65% of our 1.5 billion population under 30, we have an unstoppable demographic advantage. This youthful energy is a goldmine for investment, innovation, and economic growth.
“Every challenge in Africa—whether it’s infrastructure deficit, energy insufficiency, or transportation inadequacy —is an investment opportunity. The key is identifying these gaps and structuring your approach to mitigate the risks. That’s where the competitive edge lies.
“This was my message at the World Governments Summit in Dubai: Invest in Africa. The returns are undeniable, the opportunities are limitless, and the future is ours to shape. Let’s build a prosperous, self-sustaining Africa together.”
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