The International Monetary Fund (IMF) has appointed Tony O. Elumelu, CFR, Founder and Group Chairman of Heirs Holdings, to its Advisory Council on Entrepreneurship and Growth. The council, convened by IMF Managing Director Kristalina Georgieva, aims to identify and address regulatory barriers to entrepreneurship, recommend policies to enhance resource allocation, and drive sustainable private sector-led economic growth.
Elumelu’s Role in Driving African Entrepreneurship
A strong advocate for entrepreneurship in Africa, Elumelu’s foundation has funded, mentored, and trained over 25,000 African entrepreneurs since 2015. His philosophy of Africapitalism emphasizes private-sector investment as a catalyst for Africa’s economic transformation. His appointment ensures that Africa’s entrepreneurial potential is represented in global economic policymaking.
IMF Advisory Council Members
The council includes global business leaders, policymakers, and academics, such as:
- Prof. Ufuk Akcigit – Harberger Professor of Economics, University of Chicago
- HRH Ambassador Reema Bandar Al-Saud – Saudi Ambassador to the U.S.
- Marc Benioff – Chair, CEO & Co-Founder, Salesforce
- Ana Botín – Executive Chair, Banco Santander
- Natarajan Chandrasekaran – Chairman, Tata Group
- Margherita Della Valle – Chief Executive, Vodafone Group
- Robert Smith – Founder, Chairman & CEO, Vista Equity Partners
- Federico Sturzenegger – Argentine Minister of Deregulation and State Transformation
IMF Managing Director’s Remarks
At the inaugural meeting on March 26, 2025, Georgieva stated:
“The Council brings together leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth.”
Elumelu’s appointment highlights Africa’s growing influence in global economic discussions and the importance of entrepreneurship in shaping sustainable economic policies.
