At the 2026 Africa Forward Summit, convened by Kenyan President William Ruto and French President Emmanuel Macron, Founder and Group Chairman of Heirs Holdings, Tony O. Elumelu, delivered a powerful message to world leaders: Africa needs investment and real partnerships, not charity.
Speaking before heads of state, investors, and business executives, Elumelu emphasized that Africa is ready for partnerships built on equality, mutual respect, and shared value rather than dependency on aid.
“We welcome true partnership, partnerships of substance and based on equity, where Africans and African solutions catalyse Africa’s future,” he said. He explained that Africa’s economic transformation depends largely on two critical sectors, electricity and infrastructure, which he described as the backbone of sustainable development and prosperity across the continent.
According to him, the private sector must take the lead in mobilizing the capital needed to drive investments in these essential areas. “The private sector is what will help us mobilize capital to drive investment in infrastructure and electricity. These are two critical requirements for Africa’s economic prosperity and development,” Elumelu noted.
He added that improving the business environment would create jobs, reduce poverty, and support long-term growth across African nations. Addressing Africa’s youthful population, with more than 65 percent of Africans under the age of 35, Elumelu strongly rejected the culture of dependency on foreign aid.
“In Africa, we have a young population. There is no room for victim mentality. Our youth do not need handouts; they need jobs, improved access to electricity, and access to the internet,” he said.
He stressed that what young Africans truly need is an enabling environment that provides opportunities for entrepreneurship, innovation, and economic participation.
Through the Tony Elumelu Foundation (TEF), Elumelu revealed that over 2.5 million young Africans have received training opportunities, while more than 27,000 entrepreneurs across all 54 African countries have received funding, making it the continent’s largest entrepreneurship platform.
He also urged African nations to remain open to every genuine partner willing to support the continent’s development, regardless of geographic origin. “It is a good place to be as Africans now. We should embrace those who want to help us catalyse growth in Africa,” he stated.
Elumelu further highlighted that Africa remains the fastest-growing region globally and called on leaders to adopt a new mindset focused on economic prosperity, job creation, and poverty reduction. “In the 21st century, the mindset must change. It should be a mindset that embraces economic development and creates opportunities for our young people,” he added.
His participation at the summit reflects Heirs Holdings’ broader commitment to Africa’s long-term development through strategic investments in power, financial services, healthcare, hospitality, and technology.
The 2026 Africa Forward Summit concluded with renewed calls for stronger collaboration among governments, development institutions, and the private sector as leaders explored practical ways to accelerate inclusive growth and strengthen Africa’s position in the global economy.
