Tony Elumelu Urges Africa to Drop Victim Mentality and Embrace Global Investment
Nigerian billionaire and philanthropist Tony Elumelu has called on African nations to abandon a 'victim mentality' regarding colonial history and actively welcome foreign investment from all global powers. Speaking at the Africa Forward Summit in Nairobi, co-hosted by France and Kenya, Elumelu emphasized the urgent need for massive private global capital to drive development. He argued that while historical awareness is important, Africans must focus on the future and engage with investors from the United States, China, Russia, and Europe alike. Elumelu highlighted critical infrastructure deficits, including electricity, mass transportation, and security, as primary barriers to entrepreneurship. With Africa's median age under 20, he stressed that rapid job creation and digital connectivity, including AI adoption, are essential for youth empowerment. Despite recent protests against French 'neo-colonialism' at the summit, Elumelu expressed confidence in President Emmanuel Macron’s sincerity and commitment to African trade. His remarks underscore a pragmatic approach to economic competition among global powers, viewing it as an opportunity for Africa to leverage diverse partnerships for infrastructural improvement and economic growth.
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