At the 2026 Africa Forward Summit, convened by Kenyan President William Ruto and French President Emmanuel Macron, the Founder and Group Chair of Heirs Holdings, Tony Elumelu, called for a shift in Africa’s global partnerships, stressing that the continent seeks engagement based on equality and economic substance rather than dependency.
Elumelu told heads of state, investors, and global business leaders that Africa is open to partnership, but on terms that prioritise shared value and African-led solutions, according to a statement from his firm. “We welcome true partnership — partnerships of substance and based on equity — where Africans and African solutions catalyse Africa’s future,” he said.
He argued that Africa’s economic transformation depends primarily on investments in electricity and infrastructure, noting that the private sector must play a leading role in mobilising capital. “The private sector is what will help us mobilise capital to drive investment in infrastructure, investment in electricity.
These are two critical requirements for the economic prosperity and development of Africa,” he said. “If we create the right operating environment, we will create jobs for our people. We will alleviate poverty and deliver growth and prosperity.” With more than 65 percent of Africans under the age of 35, Elumelu rejected traditional aid-based narratives and called for a stronger focus on economic empowerment and job creation.
Related News NDPHC pledges 1,500MW boost for Lagos power supply Sugar investments can reduce unemployment, insecurity — NSDC On Africa CEO Forum and Africa Forward Summit “In Africa, we have a young population. There is no room for victim mentality. Our youth do not need handouts; they need jobs, they need improved access to electricity, and they need to join the internet.
What is important is providing this enablement, this infrastructure requirement, so that our young ones can realise their potential.” He noted that the Tony Elumelu Foundation has provided entrepreneurship training to 2.5 million young Africans and funded over 27,000 entrepreneurs across all 54 African countries, describing it as the continent’s largest entrepreneurship platform.
Elumelu also expressed openness to partnerships with credible global actors, regardless of geography, while emphasising Africa’s economic potential. “It is a good place to be, as Africans, now. We should embrace those who want to help us catalyse growth in Africa.
And let us not forget that Africa is the fastest growing region globally – and it is not just demographics,” he said. “In the 21st century, the mindset must change. It should be a mindset that embraces economic prosperity and development, a mindset that creates the environment that will help us alleviate poverty in Africa, create jobs for our young people.” He added that his participation at the summit aligns with Heirs Holdings’ broader strategy of investing in key sectors such as power, financial services, healthcare, hospitality, and technology to support long-term economic transformation.
The 2026 Africa Forward Summit ended with renewed calls for stronger collaboration between governments, development institutions, and the private sector to accelerate inclusive growth and strengthen Africa’s position in the global economy. Elumelu told heads of state, investors, and global business leaders that Africa is open to partnership, but on terms that prioritise shared value and African-led solutions, according to a statement from his firm.
“We welcome true partnership — partnerships of substance and based on equity — where Africans and African solutions catalyse Africa’s future,” he said. He argued that Africa’s economic transformation depends primarily on investments in electricity and infrastructure, noting that the private sector must play a leading role in mobilising capital.