Elumelu Woos Global Investors, Shares His Investment Gains: “No Continent Matches Africa”
- Nigerian billionaire Tony Elumelu has disclosed the returns he earns from his investments in Africa compared to those in other continents
- Elumelu asserted that no other continent can match Africa in the returns on investments to be gotten
- He noted that what many people identify as challenges in Africa are actually investment opportunities waiting to be harnessed
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Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
Nigerian billionaire, Tony Elumelu has told the international community that Africa remains the best place to invest.
Elumelu, who has investments across different continents, told the global audience that his investments in Africa continue to deliver unmatched returns.
Speaking at the World Government Summit in Dubai, the billionaire stated that Africa is full of investment opportunities that the world cannot afford to ignore.
Source: Getty Images
Tony Elumelu was speaking on a panel titled “The New Economic Revolution: An African Perspective,” moderated by CNN anchor Eleni Giokos.
Why Africa gives the best returns - Elumelu
Referencing the investment track record of Heirs Holdings, which serves as Elumelu’s investment vehicle, he noted that his investments in Africa continue to produce unmatched returns and impact.
He said in his X post;
“While my investments span four continents, nowhere matches Africa’s ROI potential. There is nowhere else we get the kind of returns on investment as what we make in Africa”
Elumelu observed that Africa has the youngest and most dynamic population, with about 60% of Africans being under 25 years old.
This vibrant population, he observed, positions the continent for economic growth.
Elumelu speaks on investment returns in Africa
Tony Elumelu noted that he invests across Africa in line with his Africapitalism ideology, and has sufficient numbers to show that investments in Africa do well.
He added that his investments across sectors create a significant impact. The Heirs Holdings investment into power generation brings an additional 750MW to power industries across the value chain.
Elumelu shared his experience investing across four continents, and sectors like financial services, oil and gas, power, real estate, hospitality and tourism, and healthcare. In his testimony, Africa still delivers the best numbers.
He emphasized that the challenges in Africa should be viewed as investment opportunities for investors around the world, not charity funding.
“The challenges we face are opportunities, especially infrastructure, access to electricity, power development on the continent, transportation. This isn’t charity – it’s the smartest capital allocation of our lifetime. The question isn’t if, but how fast you’ll join us.”
The World Government Summit was held in Dubai, UAE and it had several global leaders and government officials in attendance including the President of the African Development Bank Group, Akinwumi Adesina, and Chief Minister of the Republic of Sierra Leone, David Moinina.
Recall that Tony Elumelu also signed a $6million deal with UAE foundations during the Summit, to empower more African entrepreneurs.
Tony Elumelu shares why he diversified his businesses
In related news, Nigerian billionaire, Tony Elumelu shared the reasons he diversified from banking into other sectors like oil and gas, energy and hospitality.
The billionaire shared also that his success journey has been a combination of luck, grit and taking opportunities that came his way and encouraged entrepreneurs to embody these traits.
He added that the Tony Elumelu Foundation is democratising opportunities to African entrepreneurs through the annual training and funding, and urged African youths to apply.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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