African business magnate and philanthropist Tony Elumelu has called for a fundamental redefinition of Africa’s relationship with the global community, urging that the continent be treated as a partner in progress rather than a recipient of charity.
Speaking on Monday at a high-level Africa–Europe Summit on Economic Cooperation and Sustainable Development, Elumelu emphasized that Africa’s transformation will be driven by investment, entrepreneurship, and equal partnership, not by aid or dependency.
“Africa needs partners, not charity. Our future will not be built by aid, but by investment, partnership, and entrepreneurship,” Elumelu declared.
His remarks come at a defining moment for Africa — a continent brimming with youthful energy, natural wealth, and innovation, yet still grappling with structural and economic challenges that have long hindered its growth.
Elumelu, who has consistently advocated for Africapitalism — the belief that the private sector and entrepreneurship are key to Africa’s sustainable development — argued that the continent’s prosperity depends on empowering local entrepreneurs and small businesses.
He stressed that investing in Africa’s small and medium enterprises (SMEs) and young innovators would unlock vast economic potential, create jobs, and foster inclusive growth across the continent.
“We must back our youth, empower our SMEs, and create an environment where innovation thrives. That is how Africa will achieve sustainable progress,” he said.
The summit, which convened policymakers, investors, and business leaders from across Africa and Europe, focused on strategies to strengthen trade, promote green growth, and deepen long-term economic ties between the two continents.
Elumelu urged global partners to view Africa as a strategic growth frontier, not a charity case, highlighting that true development can only emerge through mutual respect and shared prosperity.
“The time has come to redefine the relationship between Africa and the world — one based on dignity, respect, and shared prosperity,” he concluded.
Through his Tony Elumelu Foundation, the billionaire entrepreneur has empowered over 18,000 African entrepreneurs across all 54 African countries, providing seed funding, mentorship, and training — a model that continues to inspire a new generation of self-reliant African innovators.
