Elumelu Calls for Investment in African Talent
Awele Elumelu, a prominent Nigerian business leader and philanthropist, has declared that Africa is brimming with untapped talents waiting to flourish. Speaking at the African Economic Summit in Lagos, Elumelu emphasized that the continent's youthful population represents a goldmine of innovation and creativity, but requires strategic investment to be fully realized.
According to Elumelu, Africa has the youngest population in the world, with over 60% of its people under the age of 25. Yet, he noted, many of these young people lack access to education, mentorship, and capital to turn their ideas into thriving businesses. “We have millions of brilliant minds across this continent, but they are held back by systemic challenges. It is time to change that,” he said.
Entrepreneurship as a Key Driver
Elumelu, founder of the Tony Elumelu Foundation, highlighted entrepreneurship as a critical pathway to unlock these talents. He pointed to the foundation's flagship Entrepreneurship Programme, which has trained and funded over 18,000 young African entrepreneurs since 2015. “We have seen firsthand what happens when you give a young African a chance. They create jobs, solve problems, and drive economic growth,” he added.
The foundation plans to expand its reach to support 50,000 entrepreneurs by 2030, with a focus on technology and sustainable development. Elumelu stressed that governments and private sector must collaborate to create an enabling environment for startups. “We need policies that reduce bureaucracy, improve access to finance, and foster innovation hubs across the continent,” he explained.
Technology as an Enabler
Elumelu also underscored the role of technology in unleashing Africa's potential. With mobile penetration exceeding 80% in many African countries, he argued that digital tools can bridge gaps in education, healthcare, and financial services. “Technology is the great equalizer. It allows a young coder in Nairobi to compete with anyone in Silicon Valley,” he said.
However, he warned that without investment in digital infrastructure and skills training, the digital divide could widen. He called for public-private partnerships to build internet access in rural areas and incorporate coding into school curricula. “We must equip our youth with the tools of the 21st century,” he urged.
A Call to Action
Concluding his address, Elumelu issued a rallying cry to African leaders and global investors: “Do not underestimate Africa. Our talent is our greatest asset. Invest in it, and you will see a return beyond measure.” The summit attendees, including government officials and business executives, responded with a standing ovation.
With Africa's population projected to double by 2050, the stakes are high. Elumelu's message resonates as a timely reminder that the continent's future depends on nurturing its young people today.
