Elumelu Tasks African Business Leaders On Promoting Development | Independent Newspapers Limited
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Elumelu Tasks African Business Leaders On Promoting Development

Posted: May 25, 2015 at 12:09 am   /   by   /   comments (0)

By Akinwunmi King Lagos

Nigerian Businessman, Tony Elumelu, has called on business leaders in Africa to make decisions that will increase economic, social wealth and promote development in the communities and nations where they operate.

Elumelu gave this charge while delivering a keynote address titled, ???“Africapitalism as a Catalyst for Development in Africa”, held over the weekend at the Oxford Africa Conference in Oxford University.

According to him, Africapitalism means that the business of development cannot be left to governments, donor countries and philanthropic organisations alone, adding that “we in the African private sector must wake up, recognise and embrace our role in driving the economic growth and the social development of Africa.”

Elumelu, who is the Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, explained that Africapitalism focuses on the private sector’s critical role in driving economic and social development across Africa.

Earlier in the week, Elumelu also championed the cause of access to power at the Sustainable Energy For All (SE4ALL) Global Advisory Board meeting in New York, where he pointed out that African continent was open for business.

“Africa’s power deficit is huge and may not be cleared in the next couple of years. The power sector is therefore a goldmine for investors,” he added.