Africa Should Be Next Frontier Of Global Tech Growth – Elumelu Tells Why

Master entrepreneur and philanthropist Tony Elumelu says Africa should be the next frontier of global tech growth — with the right support.

One of Africa’s leading investors, Elumelu emphasized that “Tech knows no borders. Innovation thrives where talent meets investment.” He made this declaration at an exclusive dinner held at the Élysée Palace in Paris with President Emmanuel Macron, alongside global tech leaders.

The event took place on June 12, 2025.

Elumelu, who was Africa’s sole representative at the gathering — which included Jensen Huang, CEO of NVIDIA, the world leader in artificial intelligence computing — pointed out that “Young Africans are digitally native, entrepreneurial, and hungry to build. What we need are more opportunities for partnership, more belief in our potential, and platforms to amplify our voices.”

The Chairman of the financial powerhouse United Bank for Africa (UBA) — which serves over 45 million customers globally — further asserted that “Africa has led in digital banking, in payments. Our value chains can be transformed.”

UBA operates in 20 African countries and is one of the continent’s biggest employers, with presence also in the United Kingdom, United States of America, France, and the United Arab Emirates.

Highlighting Africa’s bedrock-role in how technology is transforming the world and how the continent can tap into the global tech value chain, the founder of the high-impact Tony Elumelu Foundation stressed: “We know that many of the minerals that are tech’s foundation are found in Africa. But is Africa getting the benefit? Africa needs to capture the moment — ensure we have digital sovereignty — that African priorities are understood and met.”

The Tony Elumelu Foundation (TEF) is credited with helping about two million Africans out of poverty, providing an estimated 2.5 million young people with access to training via TEF-Connect, and disbursing more than $100 million in direct funding to thousands of African entrepreneurs. These businesses are estimated to have created nearly 2 million direct and indirect jobs and contributed around $3.2 billion in revenue to the continent’s economy.

Sharing his personal involvement in achieving Africa’s digital dream, Elumelu disclosed: “At Heirs Holdings, we are deeply invested in Africa’s digital transformation. Africa needs to win this battle. We are building and backing African tech champions like Heirs Technologies and Redtech, that are not only serving African markets but are also capable of competing globally.”

Heirs Holdings, Elumelu’s family-owned investment company, is committed to improving lives and transforming Africa through long-term investments in strategic sectors of the African economy — including financial services, hospitality, power, energy, technology, and healthcare.

The prominent champion of entrepreneurship, who shared his thoughts in a piece titled “Africa and Tech Innovation on the Global Stage” on June 13, 2025, re-emphasised that “Africa is ready, and our time is now,” urging global tech leaders and stakeholders to “choose Africa — for tech, for partnerships, for the future.”