Africa’s Youth need jobs, not handouts, Tony Elumelu tells Global Leaders

Nigerian business magnate and Founder of Heirs Holdings, Tony Elumelu, has called for a new era of equal and strategic partnerships for Africa, insisting that the continent’s young population does not need charity but opportunities driven by investment, infrastructure and economic empowerment.

Elumelu made the remarks at the 2026 Africa Forward Summit jointly convened by Kenyan President William Ruto and French President Emmanuel Macron, where global leaders, investors and policymakers gathered to discuss Africa’s economic future.

Addressing participants at the summit, Elumelu stressed that Africa’s development must be anchored on partnerships built on mutual respect, equity and long-term commitment rather than dependency and aid.

“We welcome true partnership-partnerships of substance and based on equity, where Africans and African solutions catalyse Africa’s future,” he said.

The chairman of Heirs Holdings argued that access to electricity and modern infrastructure remained the most critical foundations for economic transformation across the continent.

According to him, sustainable growth in Africa would largely depend on the ability of governments to create business-friendly environments capable of attracting private investments into key sectors.

“The private sector is what will help us mobilise capital to drive investment in infrastructure and electricity. These are critical requirements for economic prosperity and development in Africa,” Elumelu stated.

He maintained that improved infrastructure and stable power supply would stimulate industrialisation, create employment opportunities and lift millions out of poverty.

Speaking on Africa’s growing youth population, Elumelu rejected narratives portraying young Africans as dependent on foreign aid, insisting that what they truly require are opportunities, digital access and an enabling environment to thrive.

“In Africa, we have a young population. There is no room for victim mentality. Our youth do not need handouts; they need jobs, improved access to electricity and connectivity to the internet,” he said.

He noted that empowering young Africans through entrepreneurship and innovation remained central to unlocking the continent’s economic potential.

Elumelu highlighted the achievements of the Tony Elumelu Foundation, which he said had provided training opportunities to over 2.5 million young Africans and funded more than 27,000 entrepreneurs across all 54 African countries.

The billionaire investor also urged African leaders to remain open to partnerships with credible global investors and institutions willing to contribute to the continent’s growth and industrial expansion.

“It is a good place to be as Africans now. We should embrace those who want to help catalyse growth in Africa,” he said, adding that Africa’s appeal extended beyond its rapidly growing population.

He further called for a shift in mindset among policymakers and stakeholders towards policies capable of promoting economic prosperity, reducing poverty and creating sustainable opportunities for young people.

Elumelu’s participation at the summit reflects Heirs Holdings’ continued investments across strategic sectors including power, healthcare, hospitality, financial services and technology, all targeted at accelerating Africa’s long-term economic transformation.

The Africa Forward Summit ended with renewed calls for stronger collaboration among governments, development institutions and private sector players to drive inclusive growth and position Africa more competitively within the global economy.