Nigerian billionaire, Tony Elumelu has told the international community that Africa remains the best place to invest.
Elumelu, who has investments across different continents, told the global audience that his investments in Africa continue to deliver unmatched returns.
Speaking at the World Government Summit in Dubai, the billionaire stated that Africa is full of investment opportunities that the world cannot afford to ignore.
Tony Elumelu was speaking on a panel titled “The New Economic Revolution: An African Perspective,” moderated by CNN anchor Eleni Giokos.
Why Africa gives the best returns – Elumelu
Referencing the investment track record of Heirs Holdings, which serves as Elumelu’s investment vehicle, he noted that his investments in Africa continue to produce unmatched returns and impact.
He said in his X post; “While my investments span four continents, nowhere matches Africa’s ROI potential. There is nowhere else we get the kind of returns on investment as what we make in Africa.”
Elumelu observed that Africa has the youngest and most dynamic population, with about 60% of Africans being under 25 years old. He observed that this vibrant population positions the continent for economic growth.
Elumelu speaks on investment returns in Africa
Tony Elumelu noted that he invests across Africa in line with his Africapitalism ideology, and has sufficient numbers to show that investments in Africa do well.
He added that his investments across sectors create a significant impact. The Heirs Holdings investment into power generation brings an additional 750MW to power industries across the value chain.
Elumelu shared his experience investing across four continents, and sectors like financial services, oil and gas, power, real estate, hospitality and tourism, and healthcare. In his testimony, Africa still delivers the best numbers.
He emphasised that the challenges in Africa should be viewed as investment opportunities for investors around the world, not charity funding.
He said; “The challenges we face are opportunities, especially infrastructure, access to electricity, power development on the continent, transportation. This isn’t charity – it’s the smartest capital allocation of our lifetime. The question isn’t if, but how fast you’ll join us.”
The World Government Summit was held in Dubai, UAE and it had several global leaders and government officials in attendance including the President of the African Development Bank Group, Akinwumi Adesina, and Chief Minister of the Republic of Sierra Leone, David Moinina.
Recall that Tony Elumelu also signed a $6million deal with UAE foundations during the Summit, to empower more African entrepreneurs.
