Tony Elumelu delivers the message of ‘Africapitalism’ at World Economic Forum(WEF), Davos
Tony Elumelu, chairman of Lagos-based private-equity fund Heirs Holdings and former head of UBA Banker was at the World Economic Forum in Davos, Switzerland to bring his energetic crusade and intellectual passion on African capitalism to the world business community.
Elumelu held the view that Africans must lead the way and be at vanguard of developing Africa with dynamic capitalism. This is the basis for his ‘Africaapitalism’ in which African business and leaders will be making the optimum strive and developing their continent. He has taken this passion to every nook and corner of Nigeria, Africa and to every ear that is willing to listen. Finally he has come to bring the message to every captive ear at Davos, that Africa is willing and able to show the way to her development at the dawn of 21st century. The gathering of the global capitalists, investors, business leaders and political leaders at World Economic Forum is probably the most important venue for his philosophy on African capitalism to be disseminated and dissipated.
Elumelu propositional philosophy, “No one can develop Africa better than Africans and I believe foreign investors would be happier to have local investors there too,” was the basis for African capitalism as he said during an interview.
Wall Street Journal reported, “He’s set to sign a $1-billion deal with General Electric Co. GE -0.90%, the U.S. industrial conglomerate to expand the capacity of a plant in power-hungry Nigeria.”
Elumelu spoke brilliantly and convivially on how to make Africa move forward. In the interview. He strives to affirmatively re-brand Africa and thereby compelling the media to report and narrate news on Africa accurately. He reminded the world that Africa has a functional 54 countries and a hot spot in one area is not necessarily applicable to all the African countries.
He spoke about the increasingly macroeconomics stability and sound monetary policy in Africa. Without doubt, Elumelu is a great spokesperson for business vitality and emerging high tempo capitalism in Africa but one person cannot change a continent, he needs others to join him in making positive consequential impact.
Tony Elumelu and Heirs Holdings have also invested beyond African soil. It was reported that Elumelu ‘s Heirs Holdings is investing in Planet Labs, an innovative satellite manufacturing technology based in Silicon valley, San Francisco.
Robbie Schingler, Planet Labs’ co-founder commenting on Heirs Holdings said, “We are very excited to welcome Heirs Holdings to our team of investors and thank them for their support. The funding that they and other partners provide is vital for our development as a company and we are particularly pleased to be working with an African company, as our technology has the potential to support Africa’s development by monitoring and mapping the continent’s natural resources and agriculture.”
Emeka Chiakwelu, Principal Policy Strategist at Africa Political & Economic Strategic Center (AFRIPOL), attributed Tony Elumelu views on capitalism, as “Uplifting, encouraging that has the propensity to accelerate economic development in Africa at a faster pace. Elumelu is a first class business leader that really understands the theoretical and practicality of modern enterprise. I wish African community has more capable business leaders like him. Elumelu’s capitalistic philosophy with the aid of public sector can introduce a modern capitalism that could transform the way we do business in Nigeria, if not in Africa.”
Tony Elumelu and energetic African enterprises must come in partnership with African governments and work together to move Africa forward. But for now Elumelu a formidable Nigerian business leader is heading in the right direction and must be acknowledged for his vision,energy and commitment.
Africa Political & Economic Strategic Center (AFRIPOL) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa. firstname.lastname@example.org, www.afripol.org,