NAIROBI (AP), Nigerian billionaire Tony Elumelu has urged Africa to abandon what he calls a “victim mentality,” insisting the continent must embrace investment and innovation to meet the needs of its fast‑growing youth population. His remarks came at the Africa Forward Summit in Nairobi, co‑hosted by France and Kenya, where leaders debated the future of Africa’s economic partnerships.
Elumelu is an International figure, one of Africa’s most influential business figures, Elumelu is one of Africa’s most influential business figures, Through his company Heirs Holdings, he invests in energy, healthcare, and hospitality, His Tony Elumelu Foundation has funded thousands of young African entrepreneurs with seed money, training, and mentorship, Through his company Heirs Holdings, he invests in energy, healthcare, and hospitality, His Tony Elumelu Foundation has funded thousands of young African entrepreneurs with seed money, training, and mentorship, He coined the term Africapitalism the idea that African businesses should lead in solving Africa’s problems and is frequently invited to speak at international summits.
With Africa’s median age under 20, Elumelu warned that the continent’s greatest challenge is job creation. “They need jobs, they need electricity, they need to join the internet, the AI bandwagon,” he said, stressing that Africa cannot afford to dwell on colonial grievances while millions of young people demand opportunity.
His comments cut to the heart of Africa’s development debate: whether to continue framing global partnerships through the lens of colonial history or to embrace new alliances that can deliver capital, infrastructure, and technology. For Elumelu, the stakes are clear without massive investment, Africa risks leaving its youth behind.
“Africa’s infrastructure gap is the single biggest barrier to growth,” said Nairobi based economist James Mwangi. “Elumelu is right to push for private capital, but governments must also create the conditions, security, rule of law, ease of doing business, to make those investments viable.”
Not everyone agrees. Protesters in Nairobi accused France of “neo‑colonialism” and warned that welcoming foreign investors without caution risks repeating old patterns of exploitation. “We cannot simply forget history,” said activist Amina Odhiambo. “Partnerships must be on Africa’s terms, not dictated by outside powers.”
Elumelu’s remarks come as Africa has become a battleground for global economic influence, with the United States, China, Europe, Russia, Turkey, and Gulf monarchies all competing for access to markets and resources. French President Emmanuel Macron recently tapped Elumelu to join the Africa to France Impact Coalition, a move aimed at deepening trade ties despite lingering skepticism about France’s colonial past.
For readers unfamiliar with him, Elumelu is one of Africa’s most influential business figures: Elumelu is one of Africa’s most influential business figures, Through his company Heirs Holdings, he invests in energy, healthcare, and hospitality, His Tony Elumelu Foundation has funded thousands of young African entrepreneurs with seed money, training, and mentorship, He coined the term Africapitalism, the idea that African businesses should lead in solving Africa’s problems, and is frequently invited to speak at international summits.
Elumelu’s call to “let the past be” is provocative, but it captures a generational urgency: Africa’s future will be decided not by history alone, but by whether it can harness investment, infrastructure, and innovation to meet the needs of its young citizens. His words leave a memorable challenge, to stop seeing Africa as a victim, and start seeing it as a player.
