By Juliet Ebirim

Prominent African business leader and philanthropist, Tony O. Elumelu, CFR, has been named a member of the International Monetary Fund’s (IMF) newly established Advisory Council on Entrepreneurship and Growth. The appointment, made by IMF Managing Director Kristalina Georgieva, recognizes Elumelu’s significant contributions to promoting entrepreneurship, particularly in Africa.

Elumelu, the Founder and Group Chairman of Heirs Holdings, is a leading voice advocating for entrepreneurship as a key driver of economic transformation across the African continent. His commitment is exemplified through the Tony Elumelu Foundation, which has since 2015 funded, mentored, and trained over 25,000 African entrepreneurs.

A self-made entrepreneur l, Elumelu’s vision is rooted in his concept of Africapitalism, which emphasizes the crucial role of Africa’s private sector in the continent’s development through long-term investments that generate both social and economic value.

The IMF’s Advisory Council on Entrepreneurship and Growth brings together a distinguished group of global business leaders, policymakers, and academics. Elumelu’s inclusion on the council is expected to be instrumental in ensuring that the entrepreneurial potential of Africa is central to global economic policymaking discussions. His deep understanding of the African business landscape and passion for empowering entrepreneurs will provide valuable insights to the IMF.

Other notable members of the Advisory Council include Professor Ufuk Akcigit of the University of Chicago, Saudi Ambassador to the United States HRH Ambassador Reema Bandar Al-Saud, Salesforce Chair, CEO, and Co-Founder Mr. Marc Benioff, Banco Santander Executive Chair Ms. Ana Botín, Tata Group Chairman Mr. Natarajan Chandrasekaran, Vodafone Group Chief Executive Ms. Margherita Della Valle, Vista Equity Partners Founder, Chairman and CEO Mr. Robert Smith, and Argentine Minister of Deregulation and State Transformation Mr. Federico Sturzenegger.