The International Monetary Fund (IMF) has appointed Nigerian billionaire and philanthropist Tony Elumelu to its newly established Advisory Council on Entrepreneurship and Growth.
The council, convened by IMF Managing Director Kristalina Georgieva, aims to foster innovation, entrepreneurship, and productivity globally.
Key Details:
- Role of the Council: The advisory council brings together global business leaders, policymakers, and academics to identify and address regulatory barriers to entrepreneurship. It will also recommend policies to enhance resource allocation, stimulate innovation, and catalyze sustainable private sector-led economic growth.
- Elumelu’s Contribution: As the founder and group chairman of Heirs Holdings and chairman of United Bank for Africa (UBA), Elumelu is widely recognized for his advocacy of entrepreneurship as a tool for economic transformation in Africa. His Tony Elumelu Foundation has funded, trained, and mentored over 25,000 African entrepreneurs since 2015, promoting his philosophy of “Africapitalism.”
- Other Members: The council includes prominent figures such as Marc Benioff (CEO of Salesforce), Ana Botín (Executive Chair of Banco Santander), and Natarajan Chandrasekaran (Chairman of Tata Group), among others.
- Inaugural Meeting: The council held its first meeting on March 26, 2025, where Georgieva emphasized the importance of creating a supportive environment for entrepreneurship and innovation.
This appointment highlights Elumelu’s pivotal role in shaping global economic policies and advocating for Africa’s entrepreneurial potential.
Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.