The founder of the Tony Elumelu Foundation, Mr. Tony Elumelu has said that the Foundation has so far empowered 24,000 young African entrepreneurs with over 600 coming from the Federal Capital Territory(FCT).
He made this known while delivering a keynote address at the 2025 Abuja Business and Investment Expo with the theme “Empowering Sustainable Growth: Unlocking Potentials in
Emerging Markets.”
Elumelu said” This year, Heirs Holdings celebrates 15 years of defining Africapitalism – 15 years of investments that create value, empower communities, and transform lives.
“Through Transcorp Group, we transformed the Transcorp Hilton Abuja — from an ageing landmark, that did not do justice to our nation, into a contemporary, world-class hospitality icon, a venue that hosts the world. We did not stop there – this year, we launched the Transcorp Event Centre, a 5,000-capacity ultramodern space, cementing Abuja as a business and tourism hub.
“Also, through the Tony Elumelu Foundation, we have empowered over 24,000 young Africans, including 641 in Abuja, each receiving non-refundable $5,000 seed capital, training, and mentorship.
“When investors succeed, the nation succeeds. Across our group — we directly and indirectly employ about 7,000 Nigerians here in Abuja alone,” he said.
Speaking on the theme of the conference, he said, “Nigeria must build a new social contract between governments, businesses, and citizens—anchored in trust, transparency, and shared vision and governments must create the enabling environment, sound macroeconomic policies, reliable infrastructure, and predictable regulations.
He added, “Public-private partnerships are the bridges that can turn ambition into achievement—whether in digital connectivity, agriculture, transport infrastructure or power generation.”
He also challenged African policymakers to create environments that reward enterprise and unlock the continent’s vast potential.
Elumelu urged governments to see private sector success as the foundation of national prosperity.
“Across Africa, the private sector contributes over 70% of our continent’s GDP and over 80% of total employment. But this is not just about numbers; it is about influence and initiative. The private sector is reimagining what is possible on our continent,” he stated.
He noted that Africa’s transformation will be led by investing long-term in critical sectors to unlock and catalyze prosperity and opportunities for all.
“How can we expect foreign investors to invest in us, in our economies and countries, if we do not invest in our own economies? Make your money, but please bring it and invest locally. It will be a huge disservice and act of unpatriotism to save your money in economies that already have so much,” Elumelu said.
