Quick Summary:
- Tony Elumelu joins the IMF Advisory Council on Entrepreneurship and Growth.
- The council aims to remove barriers and drive innovation globally.
- Elumelu’s advocacy ensures Africa’s entrepreneurs have a voice.
- The IMF highlights private sector-led growth as key to economic success.
IMF Appoints Tony Elumelu to Advisory Council on Entrepreneurship and Growth
Elumelu Joins Global Leaders in Shaping Economic Policies
Heirs Holdings Founder and Group Chair, Tony O. Elumelu, CFR, has been appointed by the International Monetary Fund (IMF) to its Advisory Council on Entrepreneurship and Growth. The council, convened by IMF Managing Director Kristalina Georgieva, aims to drive discussions on policies that foster entrepreneurship and economic development worldwide.
A Champion for African Entrepreneurship
Elumelu is widely recognized as Africa’s leading advocate for entrepreneurship. Through the Tony Elumelu Foundation, he has funded, mentored, and trained over 25,000 African entrepreneurs since 2015. His strong belief in entrepreneurship as a catalyst for Africa’s economic transformation aligns with the objectives of the IMF Advisory Council.
A self-made entrepreneur, Elumelu has pioneered the concept of Africapitalism, which emphasizes the role of the private sector in Africa’s development. He advocates for long-term investments that generate both economic and social value.
The Role of the IMF Advisory Council
The IMF Advisory Council on Entrepreneurship and Growth consists of global business leaders, policymakers, and academics. Its primary mandate is to identify and address regulatory barriers to entrepreneurship while recommending policies that enhance resource allocation, stimulate innovation, and foster sustainable, private sector-led growth.
Elumelu’s inclusion in the council ensures that Africa’s entrepreneurial potential remains a key focus in global economic policymaking.
Distinguished Members of the Advisory Council
Other notable members of the council include:
- Professor Ufuk Akcigit, Harberger Professor of Economics, University of Chicago
- HRH Ambassador Reema Bandar Al-Saud, Saudi Ambassador to the United States
- Mr. Marc Benioff, Chair, CEO, and Co-Founder of Salesforce
- Ms. Ana Botín, Executive Chair, Banco Santander
- Mr. Natarajan Chandrasekaran, Chairman, Tata Group
- Ms. Margherita Della Valle, Chief Executive, Vodafone Group
- Mr. Robert Smith, Founder, Chairman, and CEO, Vista Equity Partners
- Mr. Federico Sturzenegger, Argentine Minister of Deregulation and State Transformation
IMF’s Vision for Economic Growth
Speaking at the inaugural meeting of the Advisory Council on March 26, 2025, IMF Managing Director Kristalina Georgieva highlighted the importance of collaboration in shaping global economic policies. She stated:
“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—key ingredients for a thriving private sector and strong economic growth.”
Elumelu’s appointment to this prestigious council underscores the growing recognition of Africa’s entrepreneurial potential in global economic discussions.
