Business mogul and philanthropist Tony Elumelu has delivered a keynote address at the Abuja Business & Investment Summit & Expo 2025, urging an end to “adversarial” relations between the public and private sectors in favour of a united partnership to drive prosperity across Africa.
Speaking in Abuja, which he described as “our nation’s window to the world,” Elumelu called for optimism but stressed that realising the continent’s potential requires a firm public-private sector collaboration for good.
The summit, which convened policymakers, business leaders, investors, and entrepreneurs, focused on accelerating the continent’s economic development.
Elumelu’s core message centred on the idea that sustainable change can only be achieved when the two sectors work together as genuine partners in progress, moving away from past conflicts.
Elumelu emphasised that Africa is at a “pivotal moment.
”Despite being the world’s youngest continent, endowed with abundant natural resources, creativity, and entrepreneurial energy, it continues to grapple with significant challenges.
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He listed these hurdles as youth unemployment, infrastructure deficits, limited access to finance, and the devastating effects of climate change.
He argued that the continent must seize the opportunity to construct a new African economy that is driven by private sector leadership, not reliance on aid.
He cited examples of innovation already taking place, from fintech innovators in Lagos to agribusiness entrepreneurs in Kigali.
Elumelu explained that this belief guides his investment company, Heirs Holdings, through its philosophy known as Africapitalism.
Africapitalism is defined by the conviction that Africa’s private sector must take the lead in transforming the continent by making long-term investments in critical sectors.
The goal of these investments, he noted, is to generate both economic and social wealth simultaneously.
