Monday, March 27, 2023
HomeEconomyElumelu urges African leaders to take economic growth seriously

Elumelu urges African leaders to take economic growth seriously

Published on

Founder of the Tony Elumelu Foundation Mr. Tony Elumelu, has told African leaders from the public an private sectors to take the growth of Africa more seriously.

He stated this while giving an address titled; “The Leadership Needed to Catalyse Africa’s Transformation,” at the inaugural Africa Now Conference which was hosted by the President of Uganda, Yoweri Kaguta Museveni, and held in Kampala.

“The leaders we need in Africa today, are leaders who genuinely care about humanity. we need leaders who are driven by an ambition to leave society better than they met it. we need leaders who understand and care about creating a positive legacy. we need leaders who are genuinely committed and care about the future of Africa,”.

This has been on ground for a while

Elumelu, who is also the Chairman of UBA Bank has been talking about improving economic growth for a while now. In 2015, he addressed African leaders, talking about Africapitalism and ways to increase economic and social wealth.

Sectors need to co-orperate with each other

The Heirs Holdings Chairman explained that the public and private sector of the African economy needs to come together in order to enhance economic growth and stability.

The conference is a forum to discuss growth – The conference creates opportunity for Heads of States and leaders of private and public sectors to develop strategies on how improve the African economy.


African leaders should work on this for economic growth

  • Develop critical infrastructure – The lack of modern infrastructure in Africa costs the continent a lot every year. Africa needs to develop expansive electrical grid, roads, railways, and communications. These systems allow for more efficient production and transportation of goods, allowing for an increased economic output.
  • Develop human capital – Africa must invest in the skills of its people in order to advance their standard of living. Currently, “33 million primary school-aged children in Sub Saharan Africa do not go to school,” and “40% of Africans over the age of 15 and 50% of women above the age of 25 are illiterate.” Africans need improved access to education in order to work in skilled trades and earn higher wages.
  • Manage population – Africa has a really large population and every year it doubles. Without enough circulating funds, poverty rate continues to increase. African leaders need to help reduce the population by focusing on family planning.

Source: Nairametrics

Latest articles

Community Petitions Akeredolu Over Life-Threatening Estate Planning Disruption

There’s ongoing palpable tension at behind Ondo State Printing Press, Alagbaka, Akure as...

Leveraging Africa’s free trade zones for economic growth

Free trade zones (FTZs) have been established across Africa since the 1980s to encourage...

5 Most Attractive Property Destinations In Kano

Kano State, as the commercial nerve centre and most populous state in Northern Nigeria,...

Arrest poverty, rebuild a Nigeria that works

As President Muhammadu Buhari approaches the end of his tenure, he as well as...

More like this

Leveraging Africa’s free trade zones for economic growth

Free trade zones (FTZs) have been established across Africa since the 1980s to encourage...

NMRC Triggers Marginal 0.01% Appreciation at NASD Exchange

The NASD Over-the-Counter (OTC) Securities Exchange recorded a marginal rise of 0.01 per cent...

2023 Census: What Manner of National Priority?

With few weeks to the end of the May 29 handing over to a...