Founder and Chairman of Heirs Holdings and Transcorp Plc, Tony Elumelu, has said the private sector accounts for more than 70 per cent of Africa’s Gross Domestic Product (GDP) and over 80 per cent of total employment across the continent.
Speaking yesterday in Abuja at the second edition of the Abuja Business and Investment Expo, Elumelu urged private sector players to take the lead in driving Africa’s economic transformation through sustained, long-term investments in key sectors.
This, the keynote speaker said, would help to unlock and catalyse prosperity and opportunities for all. Convened by the Abuja Investment Company Limited (AICL), the summit drew more than 1,000 participants from 40 countries, including global investors, policymakers, diplomats, financiers, industry leaders, and innovators.
Speaking on the theme, ‘Empowering sustainable growth: Unlocking potential in emerging markets’, Elumelu, who also chairs the UBA Group and the Tony Elumelu Foundation, underscored the need for creating an enabling environment that fosters entrepreneurship, innovation, and access to capital.
Elumelu also highlighted the role of the private sector in addressing challenges such as unemployment, poverty, and inequality, stressing that inclusive growth could only be achieved when both the public and private sectors work collaboratively.
In her welcome remarks, the Group Managing Director/Chief Executive Officer, Abuja Investments Company Limited, Maureen Tamuno, noted that the summit served as a strategic platform to showcase investment opportunities within the Federal Capital Territory, while fostering collaboration between local and international investors.
In his remarks, the FCT Minister, who was represented by the Minister of State for FCT, Dr Mariya Mahmoud, expressed the determination of the Bola Tinubu administration to build a safe city open for investment and also empower citizens. The four-day event, which ends on Friday, will feature plenary sessions, investment pitches, breakout sessions and networking.
