توني إيلوميلو، مخترع الرأسمالية الأفريقية: “لقد انتشلنا 2 مليون شخص من الفقر.”

In a recent feature with Forbes Italia, Heirs Holdings Founder and Group Chair, Tony O. Elumelu CFR,  reflects on the defining idea that has shaped his work for over a decade: Africapitalism, the belief that Africa’s private sector must play a central role in driving economic and social transformation.

Speaking at the annual meeting of the International Fund for Agricultural Development (IFAD) in Rome, he emphasised that Africa’s future depends on investing not just in infrastructure and industries, but in people, particularly young entrepreneurs. Through long-term investments across critical sectors and through the work of the Tony Elumelu Foundation, he has championed a model that links business success with societal impact.

At the core of this philosophy is a simple but powerful idea: job creation is the most sustainable path to eradicating poverty. By supporting entrepreneurship at scale, Elumelu notes, millions of Africans have already been lifted out of poverty, demonstrating the multiplier effect of empowering individuals to build businesses and create opportunities within their communities.

Africapitalism challenges traditional development models by placing responsibility and opportunity firmly in the hands of African businesses and investors. It is a call to move beyond aid, toward self-sustaining growth driven from within the continent.

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