Invest 5% Of $50bn Pledge To Africa On Entrepreneurship, Elumelu Urges Japan

Kingsley Ighomwenghian 
August 29, 2019 10:01 pm

Afro-centric investor and philanthropist, Tony Elumelu, on Thursday challenged the Government of Japan to invest 5% of its $50bn commitment to the African continent on empowering entrepreneurs.


Addressing global leaders at the ongoing 7th Tokyo International Conference on African Development (TICAD) in Yokohama, Japan, Elumelu, chairman of the United Bank for Africa Plc and Heirs Holdings, appreciated the generosity of the Japanese government in raising its commitment to Africa from $30bn in 2016 in Kenya, to $50bn.


“If we invested just 5% in Africa’s new generation of entrepreneurs, following my Foundation’s robust, proven model of getting capital directly to those best placed to catalyse growth and create real impact, we could touch 500,000 lives, across the 54 African countries, broadening markets, facilitating job creation, improving income per capita, and laying the key foundation for political and economic stability,” Elumelu said.


He outlined the three key pillars of a bold and transformative structure to include: investment in infrastructure, partnership with the African private sector, and investment in Africa’s youth.


He urged Japan to learn from the example of the Tony Elumelu Foundation, which champions empowering African entrepreneurs, as the most sustainable means of accelerating the development of Africa. The Tony Elumelu Foundation, in just five years has assisted over 7,500 African entrepreneurs across every African country, with seed capital, capacity building, mentorship and networking opportunities through its $100 million Entrepreneurship Programme.


Continuing, he assured the gathering that “Africa is one of the world’s viable destinations for investment. Our huge population, of nearly 1.3 billion people, creates one of the most attractive markets anywhere in the world.”


For him, the question to ask at this time is, with the world “paying close attention to Africa …is Japan at the centre of this conversation or is it on the sidelines?”


President Cyril Ramaphosa of South Africa, who is Co-Chair of TICAD, while corroborating Elumelu’s stance, told the Japanese government: “If you want really good returns, as Mr. Tony Elumelu said, come to Africa. Africa presents risk-adjusted returns and is a market in which investments are flowing at a hundred billion dollars – that is the new profile of Africa that is being presented to the world.”


Achim Steiner, UNDP Administrator praised Tony Elumelu’s Private-Sector led approach to development in Africa.


He described Elumelu as a dear friend and colleague, “because he alluded to the vital role that business can also play in investing in the future of the youth. These are the kinds of partnership that will drive business and development agenda to very different heights in the future”.


Speaking on the potential of the African continent, Prime Minister Shinzō Abe of Japan said: “In Africa, some countries have joined top nations in the ranking on the ease of doing business. The scale of the market continues to expand. We can envision a day when the entire continent of Africa becomes an enormous economic zone.”


Commenting on the conference, Prime Minister Abe promised: “to elevate the partnership between Japan and Africa, a partnership which has carved out close to 30 years of history, to a new level, drawing also on the power of the private sector.”


Also, in a tweet via his personal handle, Governor Babajide Sanwo-Olu of Lagos State, who is on President Muhammadu Buhari’s entourage, expressed enthusiasm that “Japan is investing in Nigeria to support our defence industry and our public health sector. Businesses are looking at investing in Nigeria and Lagos will be a destination of choice. We will continue to provide the right environment for investors.”


Organised by the Japanese Government, TICAD is a three-yearly forum for advancing Africa’s development through people, technology, and innovation, bringing together government, business leaders, companies and other stakeholders.


The event hosted Presidents and private sector leaders including Prime Minister Shinzō Abe of Japan; President Muhammadu Buhari of Nigeria; his Egyptian counterpart and Chair of the African Union (AU), Abdel-Fattah El-Sisi; President Ramaphosa; as well as Paul Kagame of Rwanda.

cenaman:
AFONJA AMAKA.

cenaman:
AFONJA AMAKA.

PlayerMeji:
Oga Elumelu...

The youth you want to give these monies are still dancing Zanku and Gbé Bodie..

Everyone wants to make money on Music and Entertainment..

oldtruth:
Elumelu is just a pure thief disguising as a philanthropist.

So, if they want to invest the 5% it should be through your foundation? SME who operates account at your bank, how many of them are able to access loan? What is the advantage of killing upcoming business and starting fresh ones? Why can't you fight for sustainability of business instead of thinking of embezzling through your dead foundation?

In a sane clime Elumelu should be in jail. He should state how many businesses he is helping to stay aloft and how many businesses started by his fraudulent foundation is still existing.

He will soon be dealt with

PlayerMeji:
Oga Elumelu...

The youth you want to give these monies are still dancing Zanku and Gbé Bodie..

Everyone wants to make money on Music and Entertainment..

PlayerMeji:
Oga Elumelu...

The youth you want to give these monies are still dancing Zanku and Gbé Bodie..

Everyone wants to make money on Music and Entertainment..

pickatyou:
We have moved from China to Japan , very soon its Vietnam that would be giving us money.
Buhari the begi begi president. Always moving with cap in hand like a typical aboki / almajiri

oldtruth:
Elumelu is just a pure thief disguising as a philanthropist.

So, if they want to invest the 5% it should be through your foundation? SME who operates account at your bank, how many of them are able to access loan? What is the advantage of killing upcoming business and starting fresh ones? Why can't you fight for sustainability of business instead of thinking of embezzling through your dead foundation?

In a sane clime Elumelu should be in jail. He should state how many businesses he is helping to stay aloft and how many businesses started by his fraudulent foundation is still existing.

He will soon be dealt with

Buliwyf:


Just look at this frustrated soul. Hunger is hampering your ability to read and comprehend abi?

Show me where Elumelu said they should invest the money through his foundation.

Mayflowa:


I don’t understand you. Japan is far more developed than China. Japan is first world while China still remain third world with lots of illegality in business processes. In fact Japan used to control China landscape.

oldtruth:
Elumelu is just a pure thief disguising as a philanthropist.

So, if they want to invest the 5% it should be through your foundation? SME who operates account at your bank, how many of them are able to access loan? What is the advantage of killing upcoming business and starting fresh ones? Why can't you fight for sustainability of business instead of thinking of embezzling through your dead foundation?

In a sane clime Elumelu should be in jail. He should state how many businesses he is helping to stay aloft and how many businesses started by his fraudulent foundation is still existing.

He will soon be dealt with

Johnrake69:


You just said nothing but the truth... UBA is not SME friendly. So what exactly is he preaching?

Buliwyf:


Just look at this frustrated soul. Hunger is hampering your ability to read and comprehend abi?

Show me where Elumelu said they should invest the money through his foundation.

oldtruth:


Won't blame you, your parent never did a good job:

“If we invested just 5% in Africa’s new generation of entrepreneurs, following my Foundation’s robust, proven model of getting capital directly to those best placed to catalyse growth and create real impact, we could touch 500,000 lives, across the 54 African countries, broadening markets, facilitating job creation, improving income per capita, and laying the key foundation for political and economic stability,” Elumelu said.

Buliwyf:


Look at the sad clown whose parents are obvious failures and couldn't avoid perpetuating their failures by birthing him. How is following his foundations proven robust model and giving the money directly to those who need it the same as using his foundation? Keep making a fool of your family online. Like I said hunger and frustration has eaten your brain.

Mind you, there is a reason why he was invited to speak at such an occasion and a nonentity like you will never be. He is already considered and respected as a stake holder and he was telling every potential angel investors and venture capitalists there the best model to invest in Africa. So keep being frustrated. I can help you get Sniper.

oldtruth:


Give it to your dad

Mayflowa:


I don’t understand you. Japan is far more developed than China. Japan is first world while China still remain third world with lots of illegality in business processes. In fact Japan used to control China landscape.