“Africa’s Youth Don’t Want Sympathy — They Want Systems That Work,” Says Tony Elumelu At IMF Meetings

At the 2025 International Monetary Fund (IMF) Annual Meetings in Washington, Tony Elumelu, one of Africa’s most prominent investors and philanthropists, sent a clear message to global policymakers — that the continent’s young people do not need sympathy, but systems that work.

Elumelu, who joined IMF Managing Director Kristalina Georgieva, Ruth Porat of Google, Simon Johnson of MIT, and Saudi Arabia’s Finance Minister Mohammed Al-Jadaan on a high-level panel, spoke passionately about the future of productivity in the digital age and how technology must drive inclusive growth, not deepen inequality.

“Productivity is not just about output per worker — it is about opportunity per person,” he said, stressing that Africa’s development narrative must move beyond aid to empowerment with the assertion that, “Our infrastructure and skill gaps are real — but so too is our unmatched youth, creativity, and entrepreneurial spirit. We have already leapfrogged before — through mobile money and fintech innovation. With the right partnerships, AI and digital transformation can be our next great leap in health, education, and agriculture.”

Elumelu’s tone was both hopeful and cautionary.

While celebrating Africa’s potential, he warned that progress would require deliberate inclusion and stronger collaboration between governments and the private sector.

“Too many of our entrepreneurs lack affordable capital. Too many of our citizens lack digital skills. We must close these gaps through smart public-private partnerships that mobilise investment, build digital infrastructure, and empower our young people,” he pointed out.

As Chairman of Heirs Holdings and United Bank for Africa (UBA), Elumelu leads institutions that embody the inclusive model he advocates.

The same for UBA, one of the continent’s largest employers and a financial powerhouse with operations in 20 African countries and international financial centres in London, Paris, Dubai, and New York, has been instrumental in deepening access to financial services across Africa where he is also the Chairman.

“At Heirs Holdings, we see firsthand that when government, business, and citizens align incentives, we unlock prosperity that is sustainable and shared,” the frontline investor added.

The Nigerian billionaire and founder of the Tony Elumelu Foundation (TEF) has consistently positioned himself at the intersection of business and social impact.

Through TEF, he has empowered over 20,000 African entrepreneurs with seed capital, business training, and mentorship, impacting more than a million lives across all 54 African countries.

His foundation’s flagship entrepreneurship programme — the largest of its kind in Africa — promotes what he calls Africapitalism, the belief that Africa’s private sector must drive economic transformation through investments that create both profit and social prosperity.

Elumelu told the audience that Africa’s digital future depends on building systems that democratise prosperity.

“Digital transformation must not just increase productivity — it must democratise prosperity,” the change maker stated while stressing that “Africa’s youth do not want sympathy. They want systems that work, skills that matter, and partners who believe. If we invest in that — in them — the next digital wave can lift all boats, not just a few.”

His message was direct: the world cannot afford to leave Africa behind in the next technological revolution.

“We’ve shown what is possible through fintech,” the chief campaigner of a better Africa said, further disclosing that “Now, with AI and digital tools, we can scale opportunities across sectors — but it will require intention, leadership, and collaboration.”

The entrepreneur, whose voice has become synonymous with inclusive growth and youth empowerment, called for a redefinition of productivity and a global partnership that recognises Africa’s potential. “This is not about charity,” he emphasized, explaining “It’s about creating systems that enable our people to thrive — because when Africa prospers, the world prospers.”

Elumelu’s remarks echoed his lifelong campaign to bridge the opportunity gap across the continent.

From the thousands of startups nurtured through the Tony Elumelu Foundation to UBA’s expansive digital banking network reaching millions, and Transcorp Group’s high-impact value across different sectors such as power and hospitality, he continues to champion a vision of an Africa that drives its own prosperity — powered by its people, technology, and purpose.

Elumelu is Chairman of the leading conglomerate with strategic investments in the power, hospitality, and energy sectors that just posted a N279.7billion revenue growth and declared an interim dividend of N4.064 billion.

His closing words at the IMF meeting captured the urgency of his mission. “The future we want for Africa will not be given — we must build it. And we must build it together.”