Tony Elumelu Urges AFC to Catalyze More High-Impact Projects Across Africa
Renowned entrepreneur and philanthropist Tony Elumelu, a founding member of the Africa Finance Corporation (AFC), delivered a powerful and heartfelt address during AFC Day in London, calling for sustained investment in transformative projects that drive inclusive growth across the continent.
Speaking under the theme “AFC as a Gateway to Global-Africa Trade and Investment,” Elumelu praised the current leadership of AFC for surpassing the vision set by its founders. He highlighted the Corporation’s catalytic role in infrastructure and private sector development, stressing the need for it to continue backing large-scale, high-impact projects critical to Africa’s economic transformation.
“I feel accomplished by what you guys are doing,” Elumelu said, commending CEO Samaila Zubairu and his team for their execution of the founding vision. He also paid tribute to Austin Okere, AFC’s founding CEO, and other early executives, noting their role in laying the groundwork for the institution’s growing global stature.
Elumelu shared personal reflections as both an originator and a direct beneficiary of AFC’s investments. “As Chairman of Transcorp Group, our power sector investments received over $120 million in support from AFC at a critical time,” he said, adding that the funding was fully repaid and instrumental in driving progress. He also noted AFC’s involvement in a $1.1 billion energy deal, with the corporation contributing $150 million.
“These are signature transactions. Without AFC, they may have been difficult to conclude,” he emphasized.
Urging AFC to maintain its focus on relevance, scale, and impact, Elumelu warned against complacency, especially in a rapidly changing global environment. “No one but us will develop Africa, and AFC is actually helping,” he stated.
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Concluding his remarks, Elumelu expressed optimism for AFC’s future: “In the next 10 years and beyond, I hope we’ll gather again—perhaps in Africa, or even China—to celebrate more successes.”
The event brought together stakeholders from across the globe to explore how AFC can further serve as a gateway to trade and investment between Africa and the world.
