The International Monetary Fund (IMF) has appointed entrepreneur and philanthropist Tony Elumelu to its advisory council on entrepreneurship and growth.
The council, convened by IMF Managing Director Kristalina Georgieva, aims to identify and address regulatory barriers to entrepreneurship and recommend policies that promote sustainable private sector-led economic growth.
Elumelu, founder and group chair of Heirs Holdings, is a leading advocate for entrepreneurship in Africa. His Tony Elumelu Foundation has funded, mentored, and trained over 25,000 African entrepreneurs since 2015.
Elumelu’s concept of Africapitalism emphasizes the role of Africa’s private sector in driving economic development and making long-term investments that deliver social and economic value.
The IMF advisory council comprises global business leaders, policymakers, and academics, including notable figures such as Marc Benioff, chair and CEO of Salesforce, and Ana Botín, executive chair at Banco Santander.
His appointment is expected to ensure that Africa’s entrepreneurial potential is central to global economic policymaking.
At the inaugural meeting of the advisory council, Georgieva emphasized the importance of creating a supportive environment for innovation, entrepreneurship, and productivity. The council’s recommendations will inform the IMF’s policy advice and program design to promote strong economic growth and development.