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Heirs Holdings Founder and Group Chair, Tony Elumelu, has urged global leaders to shift from aid-driven engagement with Africa to partnerships anchored on equity, investment and shared value, stressing that the continent’s growth depends largely on power and infrastructure.
Speaking at the 2026 Africa Forward Summit co-hosted by William Ruto and Emmanuel Macron, the Heirs Holdings founder told an audience of heads of state, investors and business leaders that Africa is open to collaboration, but not patronage.
He said the continent is seeking “partnerships of substance” that recognise the role of African-led solutions in driving development, noting that the era of one-sided aid relationships must give way to mutually beneficial economic cooperation.
Elumelu identified electricity and infrastructure as the most critical enablers of Africa’s economic transformation, adding that private sector capital would be key to unlocking investments in both areas.
According to him, creating a conducive operating environment will attract investment, generate jobs and reduce poverty across the continent.
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He also highlighted Africa’s demographic advantage, with over 65 per cent of the population under the age of 35, arguing that the focus must shift from aid to empowerment.
“Our youth do not need handouts; they need jobs, access to electricity and connectivity,” he said, emphasising the need for policies and investments that enable young Africans to realise their potential.
Elumelu pointed to the impact of the Tony Elumelu Foundation, which has provided training opportunities to about 2.5 million young Africans and funded more than 27,000 entrepreneurs across all 54 African countries.
He further expressed openness to partnerships with countries and institutions willing to support Africa’s growth, regardless of geography, provided such collaborations are based on fairness and long-term impact.
The summit amplified calls for stronger collaboration among governments, development institutions and the private sector to accelerate inclusive growth and strengthen Africa’s position in the global economy.
