Tony Elumelu joins IMF Advisory Council on Entrepreneurship and economic growth
By Felicia Nwosu
Tony O. Elumelu, CFR, the Founder and Group Chairman of Heirs Holdings, has been appointed to the International Monetary Fund’s (IMF) Advisory Council on Entrepreneurship and Growth.
Convened by IMF Managing Director Kristalina Georgieva, the council is dedicated to shaping policies that foster innovation, strengthen the private sector, and drive global economic progress.
As one of Africa’s most vocal advocates for entrepreneurship, Elumelu has played a pivotal role in empowering businesses across the continent.
Through the Tony Elumelu Foundation, he has supported over 25,000 African entrepreneurs since 2015, providing them with funding, mentorship, and business training.
His concept of Africapitalism underscores his belief that Africa’s private sector must take the lead in sustainable development by making long-term investments that generate both economic and social impact.
The IMF’s Advisory Council comprises an elite group of global business leaders, policymakers, and academics committed to removing barriers to entrepreneurship and crafting policy recommendations that enhance resource distribution, stimulate innovation, and promote private sector-led growth.
Elumelu’s inclusion ensures that Africa’s entrepreneurial potential remains a key focus in global economic discourse.
Other distinguished members of the council include Professor Ufuk Akcigit of the University of Chicago; HRH Ambassador Reema Bandar Al-Saud, Saudi Arabia’s representative to the United States; Marc Benioff, Chair, CEO, and Co-Founder of Salesforce; Ana Botín, Executive Chair of Banco Santander; Natarajan Chandrasekaran, Chairman of Tata Group; Margherita Della Valle, CEO of Vodafone Group; Robert Smith, Founder, Chairman, and CEO of Vista Equity Partners; and Federico Sturzenegger, Argentina’s Minister of Deregulation and State Transformation.
Speaking at the council’s inaugural meeting recently, Georgieva highlighted its purpose: “This council brings together leading minds in business, finance, academia, and policy to explore how macroeconomic and financial strategies can create an environment that supports entrepreneurship, innovation, and productivity, fundamental elements of a thriving private sector and sustainable economic growth.”
Elumelu’s appointment reinforces his global influence in economic policy discussions, further advocating for entrepreneurship as a catalyst for inclusive and long-term development.
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