Tony Elumelu Joins IMF Advisory Council on Entrepreneurship and Growth
The International Monetary Fund (IMF) has appointed Tony Elumelu, renowned entrepreneur and chairman of Heirs Holdings, to its prestigious advisory council on entrepreneurship and growth. This high-profile council, convened by IMF Managing Director Kristalina Georgieva, is tasked with shaping global policies to foster innovation and private sector-led economic expansion.
The announcement, made in an official statement on Friday, highlights Elumelu’s pivotal role in advancing entrepreneurship across Africa. As the founder of the Tony Elumelu Foundation, he has mentored, trained, and funded over 25,000 African entrepreneurs since 2015, firmly establishing himself as a leading advocate for economic transformation through business development.
“Elumelu, Africa’s leading advocate of entrepreneurship, champions entrepreneurship as the engine for Africa’s economic transformation,” the statement read. “His concept of Africapitalism underscores his belief that Africa’s private sector must drive the continent’s development through long-term investments that generate both social and economic value.”
Elumelu’s appointment positions Africa’s entrepreneurial potential at the forefront of global economic discussions, ensuring that policies support innovation and sustainable growth across the continent.
Elumelu joins an elite group of policymakers, business leaders, and academics in the advisory council, including Ufuk Akcigit, Harberger Professor of Economics at the University of Chicago, Reema Bandar Al-Saud, Saudi Ambassador to the United States, Marc Benioff, Chair, CEO, and Co-Founder of Salesforce, Ana Botín, Executive Chair at Banco Santander, Natarajan Chandrasekaran, Chairman of Tata Group, Margherita Della Valle, CEO of Vodafone Group, Robert Smith, Founder, Chairman, and CEO of Vista Equity Partners, Federico Sturzenegger, Argentine Minister of Deregulation and State Transformation.
During the council’s inaugural meeting on March 26, Georgieva underscored the importance of fostering a robust economic environment that encourages entrepreneurship and productivity. “This council brings together leading thinkers and practitioners in business, finance, academia, and policymaking to share insights on how macroeconomic and financial policies can create a supportive environment for innovation,” she stated.
