African youths need jobs, not handouts, Tony Elumelu tells global leaders 

Founder and Group Chairman of Heirs Holdings, Tony Elumelu, has called for a new model of engagement with Africa based on equality, investment, and long-term economic partnership, declaring that the continent’s future depends on infrastructure development and access to electricity rather than foreign aid.

Elumelu spoke at the 2026 Africa Forward Summit convened by Kenyan President William Ruto and French President Emmanuel Macron, where he addressed an audience of heads of state, investors, and global business leaders.

Speaking during the summit, Elumelu said Africa was ready for “partnership, not patronage,” stressing that the continent seeks collaborations built on mutual respect and shared prosperity.

“We welcome true partnership — partnerships of substance and based on equity — where Africans and African solutions catalyse Africa’s future,” he said.

The Heirs Holdings chairman argued that Africa’s economic transformation would be driven largely by investments in power and infrastructure, with the private sector playing a central role in mobilising the capital required for development.

“The private sector is what will help us mobilise capital to drive investment in infrastructure, investment in electricity. These are two critical requirements for the economic prosperity and development of Africa,” Elumelu said.

“If we create the right operating environment, we will create jobs for our people. We will alleviate poverty and deliver growth and prosperity,” he added.

Highlighting the continent’s youthful population, Elumelu rejected the traditional narrative of dependency and aid, insisting that African youths need opportunities and infrastructure to thrive.

“In Africa, we have a young population. There is no room for victim mentality. Our youth do not need handouts; they need jobs, they need improved access to electricity, they need to join the internet,” he said.

“What is important is providing this enablement, this infrastructure requirement, so that our young ones can realise their potential.”

He also pointed to the impact of the Tony Elumelu Foundation, which he said has provided training access to 2.5 million young Africans and funded more than 27,000 entrepreneurs across all 54 African countries.

Elumelu further stated that Africa should remain open to credible global partners willing to contribute to the continent’s economic growth and development.

“It is a good place to be at, as Africans, now. We should embrace those who want to help us catalyse growth in Africa. And let us not forget Africa is the fastest-growing region globally — and it is not just demographics,” he said.

According to him, Africa must embrace a development-focused mindset capable of driving inclusive growth, reducing poverty, and creating opportunities for young people across the continent.

Elumelu’s participation at the summit aligns with the broader investment strategy of Heirs Holdings, which focuses on sectors considered critical to Africa’s economic transformation, including power, financial services, healthcare, hospitality, and technology.

The 2026 Africa Forward Summit ended with renewed calls for stronger collaboration among governments, development institutions, and the private sector as leaders explored pathways to accelerate inclusive growth and strengthen Africa’s position in the global economy.