Heirs Holdings Founder and Group Chair, Tony Elumelu, has been appointed by the International Monetary Fund (IMF) to its Advisory Council on Entrepreneurship and Growth, convened by IMF Managing Director, Kristalina Georgieva.
Elumelu, Africa’s leading advocate of entrepreneurship and whose Foundation has funded, mentored and trained over 25,000 African entrepreneurs since 2015, champions entrepreneurship as the engine for the economic transformation of Africa.
A statement described him as a “ self-made entrepreneur”, noting that Elumelu’sembrace of entrepreneurship is fundamental to his concept of Africapitalism, his belief that Africa’s private sector can and must play a leading role in the continent’s development.
According to the statement last night, this has spurred the businessman to make long-term investments that deliver social and economic value.
The Advisory Council, the statement said, comprises global business leaders, policymakers, and academics, dedicated to identifying and addressing regulatory barriers to entrepreneurship.
Its mandate, it said, is to recommend policies that enhance resource allocation, stimulate innovation, and catalyse sustainable private sector-led economic growth, explaining that Elumelu will be instrumental in ensuring that Africa’s entrepreneurial potential is central to global economic policymaking.
Other members of the Council include: Harberger Professor of Economics, University of Chicago, Professor Ufuk Akcigit; Saudi Ambassador to the United States, HRH Ambassador Reema Bandar Al-Saud as well as Chair/CEO, and Co-Founder of Salesforce, Mr. Marc Benioff.
Others are: Executive Chair, Banco Santander, Ms. Ana Botín; Chairman, Tata Group, Mr. Natarajan Chandrasekaran; Chief Executive, Vodafone Group, Ms. MargheritaDella Valle; Founder, Chairman and CEO, Vista Equity Partners, Mr. Robert Smith and Argentine Minister of Deregulation and State Transformation, Mr. Federico Sturzenegger.
Speaking at the inaugural meeting of the Advisory Council on Wednesday March 26, 2025, the IMF Managing Director, Kristalina Georgieva, noted that the views and experiences of the selected persons will impact on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity.
“The Council brings together a group of leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth,” Georgieva stated.
