Abidjan, 04 Nov (AIP)- Promoter of the Tony Elumelu Foundation (TEF), Tony O. Elumelu, invited, on Wednesday,
French investors to turn to Africa for the search for investment opportunities, to
the opening of the “Ambition Africa” conference, organized by the France-Africa Invest club.
During his presentation, Tony Elumelu called on investors to be discerning and a lot
better to channel funds to emerging markets in Africa. For him, these markets present
enormous opportunities as well as risks for investors who must meet a need
essential for improving the economy.
Mr. Elumelu highlighted the importance of private capital inflows to Africa, with particular emphasis on
investments in small and medium enterprises, engines of the African economy. He stated
that Africa had the youngest working population in the world, with more than 60% of its population aged
under 25 years old.
“Africans don't need help. Our young people need investment instead,” suggested
Tony Elumelu, also Chairman of the United Bank for Africa (UBA) Group. He welcomed the initiatives of the
French President, Emmanuel Macron, aimed at strengthening relations between France and Africa.
The French Minister of Economy and Finance, Bruno Le Maire, for his part, announced that France
could position itself to direct investments towards Africa in order to end the cycle of
poverty and accelerate global development. Welcoming Mr. Elumelu's position on the
strengthening SMEs in Africa to catalyze development.
“We share the same ambition to support African SMEs and entrepreneurs, because this is
essential for Africa's economic development. We will ensure that investments in
Africa are sustainable, exemplary and respectful of the environment. We wanna go fast, go fast
in the race against poverty and renunciation, across the continent,” said Bruno Le Maire.