- Tony Elumelu said Africa’s youthful population is a goldmine for investment, innovation, and economic growth
- He questioned the skewed perception of risk toward Africa
- Elumelu said every challenge in Africa is an investment opportunity
The Chairman of the United Bank for Africa (UBA), Tony Elumelu, says Africa’s youthful demographic is a goldmine for investment, innovation, and economic growth.
He noted that with 65 per cent of Africa’s 1.5 billion population under 30, the continent has an unstoppable demographic advantage.
According to a post on his X handle on Tuesday, February 11, Elumelu stated this at the World Government Summit in Dubai where he questioned the skewed perception of risk towards Africa.
He added that he has a diversified portfolio across four continents and that nowhere else offers the kind of ROI (return on investment) that Africa does.
“As an investor with a diversified portfolio across 4 continents – from power to oil & gas, financial services, and healthcare – I can tell you one thing: nowhere else offers the kind of ROI than Africa does.
“Africa’s greatest asset? Its people. With a median age of 19 and 65% of our 1.5 billion population under 30, we have an unstoppable demographic advantage. This youthful energy is a goldmine for investment, innovation, and economic growth,” Elumelu tweeted.
‘Investment opportunities abound in Africa’
The serial businessman further stated that every challenge in the continent offers an investment opportunity.
He stated that the competitive edge lies in identifying these gaps and adopting an approach that mitigates the risks.
Elumelu said, “Every challenge in Africa—whether it is infrastructure deficit, energy insufficiency, or transportation inadequacy —is an investment opportunity. The key is identifying these gaps and structuring your approach to mitigate the risks. That’s where the competitive edge lies.
“This was my message at the @WorldGovSummit in Dubai: Invest in Africa. The returns are undeniable, the opportunities are limitless, and the future is ours to shape. Let’s build a prosperous, self-sustaining Africa together.”
UCEE MFB, UBA, Transcorp: All the businesses linked to Tony Elumelu
Meanwhile, TheRadar earlier reported that On Monday, August 19, billionaire businessman, Tony Elumelu, officially launched UCEE Microfinance Bank (MFB), a digital MFB that will leverage technology and finance to reach the unbanked.
The MFB is an addition to the chains of businesses linked to the consummate businessman and serial entrepreneur.
