Elumelu seeks global support for entrepreneurship in Africa
(PUNCHNG) The Chairman, United Bank for Africa
Plc, and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu, has
stressed the need for global organisations and multinational
institutions to support the much-needed growth on the African continent,
as such growth will affect the world positively.
Elumelu, who pointed this out on the
sidelines of the 2018 World Economic
Forum in
Davos, Switzerland, said organisations must come together to provide
solutions to key challenges that were negatively impacting African
economies, especially with regards to power supply and infrastructural
challenges, which the economies have had to grapple with.
Speaking specifically on the challenge
of power supply on the continent, he said, “Under the Obama
administration, the Power Plan programme was initiated, which helped in a
number of ways. However, now, we have a number of investors, like the
Transcorp Power Plc, that are working hard to improve power on the
continent in the 21st century. The truth is we have a new crop of
investors who know and realise that it is important to have access to
power to grow the continent, and our governments have keyed into this.
“To this end, we will also continue to need support from the World Bank,
AfDB and other organisations to support with the huge capital that is
needed to boost that sector. We can also do with the support of America,
because if we improve access to electricity in Africa, it will help the
world in a variety of ways.”
While noting that the private sector needed to get more involved, he
cited the example of the achievements of the TEF over the past few
years, which he said had begun to bear fruits, adding, “We are beginning
to see signs of the great things that these people are doing and they
are making us proud. We have helped them realise their dreams and they
are doing well.”
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