Nigerian entrepreneur and philanthropist Tony Elumelu has urged global leaders to rethink their engagement with Africa, calling for a shift from charity-driven models to partnerships rooted in investment, entrepreneurship, and mutual respect.
Speaking at a high-level Africa-Europe summit on Monday, Elumelu declared, “Africa needs partners, not charity. Our future will not be built by aid, but by investment, partnership, and entrepreneurship.”
His comments come as the continent faces a turning point—rich in human and natural capital but still contending with deep structural challenges. Elumelu argued that Africa’s youthful population and growing innovation sector offer enormous potential, but that potential must be met with smart investment and meaningful collaboration.
“For too long, Africa has been seen through the lens of aid. That mindset must change,” he said. “We need support that empowers, not handouts that hinder.”
Elumelu emphasized the importance of supporting small and medium-sized enterprises and young innovators, calling them the true engines of inclusive economic growth. He also reaffirmed the need for Africans to lead their own development agendas, with global actors playing collaborative, not prescriptive, roles.
As chairman of the United Bank for Africa and founder of the Tony Elumelu Foundation, he has long promoted private sector-led development. His foundation has funded and mentored thousands of entrepreneurs across Africa, positioning entrepreneurship as central to the continent’s transformation.
“The time has come to redefine the relationship between Africa and the world, one based on dignity, respect, and shared prosperity,” Elumelu concluded.
His message resonated as leaders from both continents discussed ways to strengthen trade, attract long-term investment, and build sustainable partnerships. At the heart of Elumelu’s vision is a simple premise: Africa’s progress will not come from generosity, but from opportunity created, owned, and driven by Africans.
