Elumelu Spearheads $4 Trillion Pan African Development Initiative
Atume Terfa
Nigerian billionaire investor and philanthropist Tony Elumelu is spearheading a continent-wide push to accelerate entrepreneurship and investment, championing the philosophy of Africapitalism — the idea that Africa’s private sector can be the engine of economic transformation.
Mobilising Africa’s Capital and Talent
Elumelu recently called on African governments and business leaders to collaborate in mobilising over $4 trillion in domestic capital to fuel growth across the continent. Speaking to industry leaders, he emphasised that while Africa is rich in resources and youth talent, the missing ingredients are coordinated action, trust, and effective investment channels.
As part of this multi-country initiative:
The Tony Elumelu Foundation (TEF) is supporting thousands of young entrepreneurs across 54 African countries, providing grants, mentorship, and capacity-building programmes.
TEF has partnered with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation, launching a $6 million initiative to empower 1,000 additional African entrepreneurs.
Elumelu has embarked on a three-country diplomatic and business tour—London, Abu Dhabi, and Rome—securing global partnerships and advancing the Africapitalism agenda internationally.
Why This Matters
Pan African Scale: Operating across 54 countries, Elumelu’s drive is no longer national; it aims to reshape Africa’s economic landscape continent-wide.
Private Sector as Growth Engine: With African private enterprise already contributing over 70% of GDP and 80% of jobs, Elumelu stresses that sustainable development depends on mobilising domestic business potential.
Youth Empowerment: TEF’s initiatives focus on unlocking Africa’s demographic dividend, fostering innovation and entrepreneurship among the continent’s young population.
Capital Mobilisation: The strategy signals a shift from reliance on foreign aid toward internally generated investment, positioning Africa to fund its own growth.
Challenges and Opportunities
Elumelu acknowledges that the success of this initiative depends on building trust, transparency, and accountable investment channels. Reaching underrepresented groups, rural youth, and those in fragile states remains a critical test. Furthermore, converting these efforts into lasting economic transformation will require sustained infrastructure development, regulatory reform, and enabling business environments.
Looking Ahead
The next phase of Elumelu’s campaign focuses on:
Expanding entrepreneurial pipelines across more countries and sectors.
Channelling domestic capital into infrastructure, technology, manufacturing, and other productive sectors.
Strengthening ties between African nations and global financial hubs to align local ambition with international resources.
In essence, Tony Elumelu is doing more than advocating for Africa’s rise — he is mobilising networks, capital, and strategy to make it a reality. The continent now faces the test of turning vision into scalable impact.
