ELUMELU CALLS FOR AFRICAN INFRASTRUCTURE AND ENERGY REVOLUTION TO UNLOCK CONTINENT’S FUTURE

Tony Elumelu Urges Bold Action on Power, Infrastructure, and Youth Investment to Drive Africa’s Future.

Africa Infrastructure Energy revolution Investment Entrepreneurship Industrialisation Private and public capital Leaders.

In a powerful keynote address at the African Caucus Meeting in Bangui, Central African Republic, renowned entrepreneur and philanthropist Tony Elumelu issued a clarion call for an infrastructure and energy revolution across Africa, declaring that without urgent investment in power, roads, and human capital, the continent cannot achieve meaningful development.

Elumelu, who chairs Heirs Holdings, United Bank for Africa (UBA), and Transcorp Group, challenged African governments to confront the continent’s massive infrastructure and electricity deficits head-on. He described the infrastructure gap as one of the greatest threats to Africa’s future, stressing that modern economic prosperity cannot be achieved without the right foundational systems in place.

“We cannot achieve prosperity without the foundations of modern development,” he declared.

According to Elumelu, up to 70% of Africans lack reliable access to electricity, a crisis that hampers industrialisation, stifles entrepreneurship, and locks millions in poverty. He highlighted Nigeria’s chronic energy shortfall, noting that the country produces less than 7,000 megawatts of power for over 200 million citizens.

“If we are to industrialise, create jobs, and participate meaningfully in the global AI revolution, we must invest aggressively in energy from renewables to cleaner gas-based solutions,” Elumelu urged.

Through his conglomerate, Heirs Holdings, Elumelu is investing capital to address Africa’s energy challenges. His companies are not only generating power but also exporting electricity across borders via the West African Power Pool, and repurposing gas from oil operations to fuel power plants. He described this model as Africapitalism, private capital solving public sector problems.

However, infrastructure alone won’t unlock Africa’s full potential. Elumelu made a strong case for youth investment as the continent’s most critical development strategy. Through the Tony Elumelu Foundation, over 24,000 young African entrepreneurs have received direct seed funding, with 1.5 million youth trained and 1.2 million jobs catalysed.

“No resource is more valuable than our people, especially our youth,” he said. “Africa’s development is our responsibility. No one else will do it for us.”

In his closing remarks, Elumelu reiterated the centrality of power in any effort to transform Africa’s economic landscape:

“Power is everything. No industrial revolution can happen without electricity. We must prioritise energy. Without power, there can be no progress.”

His message was clear: if Africa is to rise, its leaders must act decisively, invest boldly, and harness both private and public capital to build a future defined by access, opportunity, and sustainable growth.

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ELUMELU CALLS FOR AFRICAN INFRASTRUCTURE AND ENERGY REVOLUTION TO UNLOCK CONTINENT’S FUTURE

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