The International Monetary Fund (IMF) has appointed Heirs Holdings Founder and Group Chair, Tony O. Elumelu, to its Advisory Council on Entrepreneurship and Growth. Convened by IMF Managing Director Kristalina Georgieva, the council brings together global business leaders, policymakers, and academics to identify regulatory barriers to entrepreneurship and recommend policies that drive innovation and sustainable economic growth.
Elumelu, one of Africa’s strongest advocates for entrepreneurship, has championed private-sector-led development through his foundation, which has funded, mentored, and trained over 25,000 African entrepreneurs since 2015. His philosophy of Africapitalism—emphasizing long-term investments that generate both economic and social value—aligns with the council’s mission to shape policies that enhance resource allocation and stimulate innovation.
The Advisory Council includes prominent figures such as Professor Ufuk Akcigit of the University of Chicago, Saudi Ambassador to the U.S. Reema Bandar Al-Saud, Salesforce CEO Marc Benioff, Banco Santander Executive Chair Ana Botín, Tata Group Chairman Natarajan Chandrasekaran, Vodafone Group CEO Margherita Della Valle, Vista Equity Partners CEO Robert Smith, and Argentine Minister of Deregulation Federico Sturzenegger.
At the council’s inaugural meeting on March 26, 2025, Georgieva highlighted the importance of fostering entrepreneurship and productivity through supportive macroeconomic and financial policies. Elumelu’s appointment reinforces Africa’s role in shaping global economic policy, ensuring that African entrepreneurs are central to discussions on innovation, investment, and sustainable growth.
