Nigerian billionaire and business leader Tony O. Elumelu, CFR, has been appointed to the International Monetary Fund (IMF) Advisory Council on Entrepreneurship and Growth. The council, convened by IMF Managing Director Kristalina Georgieva, aims to support the Fund’s 191 member countries in fostering macroeconomic and financial conditions conducive to strong and sustainable economic growth.
Elumelu, the Founder and Group Chairman of Heirs Holdings, will serve alongside eight other distinguished professionals, including Professor Ufuk Akcigit of the University of Chicago, HRH Ambassador Reema Bandar Al-Saud of Saudi Arabia, and Salesforce CEO Marc Benioff.
The council’s primary mission is to identify and address regulatory barriers to entrepreneurship, advocate for better resource allocation, stimulate innovation, and promote sustainable, private sector-led economic growth. Meetings will be held quarterly under Chatham House rules, ensuring candid and strategic discussions.
Elumelu’s appointment underscores his growing influence in global economic affairs. As a prominent advocate for entrepreneurship, economic empowerment, and sustainable development in Africa, he brings a wealth of experience to the council.
Through the Tony Elumelu Foundation (TEF), he has empowered over 25,000 African entrepreneurs with funding, mentorship, and business training since 2015. His leadership extends across key industries, including banking, energy, hospitality, and healthcare, making him a key player in Nigeria’s economic landscape.
As Chairman of Heirs Holdings and the United Bank for Africa (UBA), Elumelu has played a pivotal role in shaping Nigeria’s financial sector. According to a MoneyCentral analysis, his net worth is estimated at $2.15 billion, driven by strategic investments and the expansion of his business empire across various industries, including power generation and insurance.
Elumelu’s new role at the IMF Advisory Council further cements his status as a global thought leader, dedicated to fostering inclusive economic growth and entrepreneurship on an international scale.
