March 28, 2025
Founder of Heirs Holdings and Group Chair, United bank for Africa, UBA, Tony O. Elumelu, CFR, has been appointed by the International Monetary Fund, IMF, to its Advisory Council on Entrepreneurship and Growth, convened by IMF Managing Director, Kristalina Georgieva.
Elumelu, a leading advocate of entrepreneurship in Africa, whose Foundation has funded, mentored and trained over 25,000 entrepreneurs across African 2015, projects entrepreneurship as the engine for Africa’s economic transformation.
A through breed entrepreneur, Elumelu, embraced entrepreneurship as a fundamental concept for Africapitalism, believes that Africa’s private sector is capable and must play a leading role in the continent’s development, make long-term investments that translates to social and economic worth.
The IMF Advisory Council comprises global business leaders, policymakers, and academics, dedicated to identifying and addressing regulatory barriers to entrepreneurship. Its mandate is to recommend policies that enhance resource allocation, stimulate innovation, and catalyse sustainable private sector-led economic growth.
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Elumelu will be instrumental in ensuring that Africa’s entrepreneurial potential is central to global economic policymaking.
Speaking at the inaugural meeting of the Advisory Council on Wednesday 26 March 2025, the IMF Managing Director, Kristalina Georgieva, noted: “The Council brings together a group of leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity which are key ingredients for a thriving private sector and strong economic growth.”
Other members of the Council include: Harberger Professor of Economics, University of Chicago, Professor Ufuk Akcigit; Saudi Ambassador to the United States, HRH Ambassador Reema Bandar Al-Saud; Chair, CEO, and Co-Founder of Salesforce, Mr. Marc Benioff; Executive Chair, Banco Santander, Ms. Ana Botín; Chairman, Tata Group, Mr. Natarajan Chandrasekaran; Chief Executive, Vodafone Group, Ms. Margherita Della Valle; Founder, Chairman and CEO, Vista Equity Partners, Mr. Robert Smith and Argentine Minister of Deregulation and State Transformation, Mr. Federico Sturzenegger.
