Tony Elumelu Urges Africa to Drop 'Victim Mentality' and Embrace Global Investment

Nigerian billionaire investor and philanthropist Tony Elumelu has called on African nations to move beyond colonial-era mistrust of foreign powers, urging them to prioritize economic development and infrastructure improvement. Speaking at the Africa Forward Summit in Nairobi, co-hosted by France and Kenya, Elumelu argued that Africa must abandon a 'victim mentality' to attract the massive private global capital needed for growth. He emphasized that countries should welcome investors from all regions, including the United States, China, Russia, and Europe, regardless of historical grievances. Elumelu highlighted critical needs such as reliable electricity, mass transportation, security, and digital connectivity to support the continent's young population and foster job creation. Despite recent protests against French President Emmanuel Macron accusing France of neo-colonialism, Elumelu defended Macron’s sincerity and commitment to Africa. He stressed that while history should be acknowledged, the focus must remain on future opportunities and enabling young entrepreneurs to thrive in the modern economy. His comments come amidst intensifying geopolitical competition for influence in Africa, which he views as a positive development for the continent's strategic positioning.