Elumelu Urges Africa to Prioritise Investment Over Colonial Narratives
Nigerian billionaire and businessman Tony Elumelu has called on African countries to shift focus from historical grievances and prioritise policies that attract global investment and drive economic transformation.
Speaking at the Africa Forward Summit in Nairobi, Elumelu said the continent’s urgent priority should be mobilising private capital to address critical infrastructure gaps, including electricity supply, transport systems, security, and business-enabling environments.
His remarks come amid growing debates at the summit over foreign influence in Africa, including protests and criticism directed at France over alleged neo-colonial economic practices on the continent.
Elumelu argued that Africa’s development agenda must be driven by practical economic outcomes, particularly job creation, industrial growth, and digital inclusion for its rapidly expanding youth population.
He stressed that Africa’s competitiveness in the global economy will depend on its ability to create stable investment conditions and strengthen partnerships with both local and international investors.
The business leader further emphasised that unlocking Africa’s private sector potential remains key to reducing unemployment and accelerating long-term sustainable development across the continent.
Elumelu Urges Africa to Prioritise Investment Over Colonial Narratives