Elumelu to co-chair New Africa Summit at 8th edition of Saudi Arabia’s future investment initiative

… To speak on ‘Landscape of African Entrepreneurship’ in a fireside chat

The Chairman of the United Bank for Africa (UBA) and Founder of The Tony Elumelu Foundation (TEF), Tony Elumelu, will co-chair the New African Summit, at the upcoming eighth edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia.

The summit themed ‘Infinite Horizons’ FII will be attended by some of the world’s most influential leaders, to demonstrate how investment can serve as a catalyst for a prosperous and sustainable future, pushing the boundaries of what is possible for humanity. Elumelu bring his perspective as both a business leader and catalytic philanthropist.

At the event, Africa will take centre stage, shaping the discussions at FII. Elumelu, one of the most prominent voices on Africa’s transformation agenda, will advocate for entrepreneurship and investing in youth as the means to accelerate Africa’s economic growth and development.

He will also draw insights from the impact and unique model of the Tony Elumelu Foundation, the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication and job creation across Africa.

Elumelu will also, on October 29, join other global business leaders, in the opening plenary panel, titled ‘Board of Changemakers: Banking & Investment,’ to discuss whether visionary leaders create new economic systems that embrace innovation.

Demonstrating global interest in HH Group companies and the breadth of the HH investment portfolio, the Forum will see the presence of other senior Heirs Holdings executives, such as Owen Omogiafo, president and Group CEO of Transcorp Group, one of Africa’s leading, listed companies, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa, will join other global female leaders in the energy sector at the HERizon Summit to discuss how women can power sustainable supply chains.

Read also: Entrepreneurship critical for economic resilience, crisis prevention – Elumelu

Osa Igiehon, CEO of Heirs Energies, will share insights on energy transition and security at his session focused on powering Africa’s future through green investments. Heirs Energies has made significant impact in Nigeria, driving energy self-sufficiency, through rapid expansion in oil and gas production and building energy value chains, contributing to HH’s integrated energy strategy.

Muyiwa Akinyemi, deputy managing director, United Bank for Africa Group, will join a roundtable session, leveraging his perspective drawn from his career with Africa’s Global Bank. UBA Group’s presence in the GCC is pivotal in fostering stronger economic ties between Africa and the Gulf, reflecting a commitment to cross-border investment and sustainable growth.

The Tony Elumelu Foundation will also host a plenary session on the sidelines of FII, focused on youth entrepreneurship and its critical role in creating shared prosperity on the continent.

As the advocate of Africapitalism, Elumelu has long championed entrepreneurship as key to accelerating economic growth across Africa, leveraging his presence at FII to highlight the continent’s vast investment opportunities.

Elumelu said: “The relationship between Africa and the Gulf has evolved to be a thriving economic partnership, driving growth across both regions. I am proud to co-chair the New Africa Summit at FII, where we will explore mutually beneficial investment opportunities between Africa and the Gulf and highlight the key role entrepreneurship plays in transforming visions into ventures. Together, Africa and the Gulf are building a legacy of shared prosperity for a better tomorrow.”

Brief on Elumelu:

Tony Elumelu, who was recognised by TIME as one of the world’s most influential people in 2020, is one of Africa’s most respected entrepreneurs, businessmen, and philanthropists. He serves as chairman of family-owned leading investment company, Heirs Holdings and of United Bank for Africa (UBA), a global bank with presence across four continents, originating from sub-Saharan Africa. Named one of the 50 wealthiest Africans by Forbes, Elumelu has given $100 million of his fortune to 20,000 entrepreneurs across 54 African countries through the Tony Elumelu Foundation (TEF), whose founder he is.