At an international economic summit convened to strengthen Africa-Europe cooperation, Nigerian entrepreneur and philanthropist Tony Elumelu made a passionate appeal for a fundamental rethink of Africa’s engagement with the world. He argued that the continent’s progress depends not on foreign aid but on investment, entrepreneurship, and equitable partnerships.
Elumelu, speaking on Monday at the high-level meeting on economic cooperation and sustainable development, declared that Africa’s growth will be sustained only when it moves away from dependency-driven models.
“Africa needs partners, not charity. Our future will not be built by aid, but by investment, partnership, and entrepreneurship,” he said.
His remarks resonated deeply across the summit, which drew policymakers, investors, and business leaders from both continents. The dialogue focused on reimagining trade ties, driving sustainable economic growth, and promoting long-term investments in key sectors such as energy, infrastructure, and technology.
Elumelu emphasized that Africa stands at a critical crossroads—a continent rich in human capital and natural resources, yet still grappling with deep structural imbalances. He highlighted Africa’s youthful population and thriving innovation ecosystem as untapped assets that could redefine global growth if properly harnessed.
According to him, empowering small and medium-sized enterprises (SMEs) and nurturing young innovators are central to unlocking the continent’s potential. Such empowerment, he said, would create jobs, reduce poverty, and position Africa as a competitive global player.
Elumelu, who has long championed Africapitalism—his philosophy of using business and investment as tools for economic transformation—urged Africans to take the lead in shaping their destiny. He called for a relationship with the global community rooted in mutual respect and shared prosperity, not dependency.
“The time has come to redefine the relationship between Africa and the world — one based on dignity, respect, and shared prosperity,” he concluded.
The summit’s discussions underscored a growing recognition that sustainable development in Africa requires genuine partnership and local empowerment—principles Elumelu has consistently embodied through his investments and the Tony Elumelu Foundation’s entrepreneurship initiatives across the continent.