Tony Elumelu Calls for Massive Global Capital Inflow Into Africa
By Erewunmi Peace
Chairman of United Bank for Africa (UBA) and founder of the Tony Elumelu Foundation, Tony Elumelu, has called for increased global investment into Africa’s economy.
Elumelu made the call while speaking on the need to accelerate economic growth across the continent through stronger private sector participation and foreign capital inflows.
He urged investors from different parts of the world to consider Africa as a key destination for long-term investments, particularly in sectors such as infrastructure, energy, technology, and entrepreneurship.
According to him, Africa requires substantial capital inflows to bridge development gaps, create employment opportunities, and support innovation among young entrepreneurs.
He also emphasized the importance of private sector-led development, noting that sustainable economic growth across Africa depends on investment-driven solutions rather than aid dependency.
Elumelu reiterated his long-standing advocacy for “Africapitalism,” a philosophy that promotes private investment as a key driver of economic transformation on the continent.
His remarks have continued to generate discussions among economic stakeholders on strategies to boost investment and strengthen Africa’s economic resilience.
