Business

Nigeria’s Tony Elumelu Bags IMF Appointment

Published

4 days ago

Mar 28, 2025.

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Tony Elumelu, chairman of Heirs Holdings and UBA, joins the IMF Advisory Council on Entrepreneurship and Growth.His role is to advocate for Africa’s private sector in global economic policymaking.
Championing Business Growth and Innovation
Elumelu’s Tony Elumelu Foundation has mentored and funded over 25,000 African entrepreneurs since 2015.

The International Monetary Fund (IMF) has appointed Tony Elumelu, a Nigerian businessman and chairman of Heirs Holdings and United Bank for Africa (UBA), to its advisory council on entrepreneurship and economic growth.

This council, convened by IMF Managing Director Kristalina Georgieva, includes top global business leaders, policymakers, and academics who will work together to find solutions to challenges affecting entrepreneurship and economic development worldwide.

The IMF made the announcement in a statement released on Friday, March 28, 2025. According to the statement, Elumelu’s appointment is a recognition of his efforts in promoting entrepreneurship across Africa and his belief that the private sector plays a major role in the continent’s economic transformation.

“Elumelu is Africa’s leading advocate for entrepreneurship. Through the Tony Elumelu Foundation, he has mentored, trained, and provided financial support to over 25,000 entrepreneurs across Africa since 2015.

His vision of ‘Africapitalism’ highlights the importance of private-sector investment in driving sustainable economic growth and creating jobs,” the statement said.

As a member of the advisory council, Elumelu will help ensure that African entrepreneurs have a voice in global economic policy discussions.

The IMF believes that removing regulatory barriers and creating better policies will make it easier for businesses to grow, create jobs, and drive economic development, particularly in emerging markets like Africa.

At the council’s inaugural meeting on March 26, Kristalina Georgieva emphasized that the members will share their experiences on how macroeconomic and financial policies can encourage innovation, entrepreneurship, and productivity, all of which are essential for a strong private sector and sustainable economic growth.

With this appointment, Tony Elumelu joins other influential figures working towards creating a business-friendly environment worldwide, where entrepreneurs can thrive and economies can prosper.