Elumelu made the call following a meeting with French President Emmanuel Macron and fellow leaders of the Africa France Impact Coalition in Paris
Elumelu Meets Macron, Calls For Global Alliance To Create Jobs For African Youth
Leading African investor and philanthropist Tony Elumelu has called for stronger collaboration between Africa’s private sector and global partners to tackle youth unemployment and unlock opportunities for the continent’s growing population.
Elumelu made the call following a meeting with French President Emmanuel Macron and fellow leaders of the Africa France Impact Coalition in Paris, where discussions focused on the economic future of Africa and the critical role of young people in shaping it.
Reflecting on the conversation, the master entrepreneur said the dialogue repeatedly returned to one central reality about the continent.
“In Paris, I sat with President Emmanuel Macron and fellow leaders of the Africa France Impact Coalition, and our conversation kept returning to the same truth: Africa’s greatest asset is her youth,” he disclosed.
However, the leading investor warned that the promise of Africa’s youthful population could easily become a missed opportunity if governments and global partners fail to create the enabling conditions for employment and enterprise.
“But potential without opportunity is a promise broken. To me, joblessness is the betrayal of a generation,” the Chairman of one of the continent’s biggest employers of Labour, United Bank for Africa (UBA) pointed out.
Home to one of the world’s fastest-growing youth populations, Africa faces a pressing challenge of creating millions of jobs annually to absorb new entrants into the labour market.
Elumelu revealed the solution lies in entrepreneurship, access to capital, and stronger partnerships that connect African innovators to global markets.
“Africa’s young people are talented, entrepreneurial, and ambitious. What they need is access to opportunity, capital, mentorship, and markets,” he insisted.
The role model therefore urged deeper cooperation between African institutions and international partners to scale opportunities for entrepreneurs across the continent.
“That is why I called for deeper collaboration — a partnership between Africa’s private sector and global leaders that meets the scale of the opportunity before us,” he emphasised.
The champion of industry also recalled the impact of Macron’s 2018 visit to Nigeria, when the French president addressed thousands of young African innovators, describing it as a moment that energised the continent’s entrepreneurial ecosystem.
“When President Macron visited Nigeria in 2018 and addressed over 3,200 young African entrepreneurs, the impact reverberated for years,” he disclosed, urging “We must recreate that momentum, and go even further.”
As part of efforts to sustain that momentum, Elumelu announced that the Tony Elumelu Foundation will empower an additional 3,200 young African entrepreneurs later this month.
“On March 22, the Tony Elumelu Foundation will empower an additional 3,200 young African entrepreneurs, continuing our mission to catalyse Africa’s private sector,” he stated.
Since launching the foundation in 2010, Elumelu said the organisation has played a significant role in supporting entrepreneurship across the continent through funding, training, and mentorship.
Findings revealed that, the initiative has disbursed more than $100 million in seed capital to over 24,000 entrepreneurs while providing business training to about 2.5 million young Africans through its digital platform.
The programme has also helped stimulate job creation and economic growth across multiple sectors.
Multiple sources confirmed that the foundation has enabled the creation of over 1.5 million direct and indirect jobs across the continent, while helping to lift over 2 million Africans out of poverty.
Entrepreneurs supported through the programme have collectively generated more than $4.2 billion in revenue, with women accounting for nearly half of the beneficiaries according to records.
“We have achieved 46 percent women participation, reinforcing our commitment to inclusive growth,” he affirmed.
Elumelu, one of Africa’s most influential business leaders, has long championed the concept of Africapitalism — the belief that the private sector must play a leading role in driving economic development and social transformation across the continent.
Through his business interests and philanthropic initiatives, he has consistently advocated entrepreneurship as a key pathway for tackling unemployment and poverty in Africa.
Despite the progress made so far, the investor believes much more remains to be done.
“And yet, we are only scratching the surface,” he said, stressing that strategic alliances between African institutions and international partners — including France — will be critical in accelerating innovation, entrepreneurship, and job creation.
“Strategic partnerships between African institutions and global partners — including France — is key in accelerating entrepreneurship, innovation, and job creation across Africa,” Elumelu added, insisting “Our work continues.” Read More
