TLDR: Tony Elumelu, Chairman of Heirs Holdings and UBA Group, has called for Africa’s urgent and deliberate inclusion in global Artificial Intelligence (AI) conversations. Speaking at the World Bank/IMF Annual Meetings 2025, he emphasized the need to mobilize $4 trillion in untapped African capital, address severe electricity deficits, and empower the continent’s youth to prevent further economic marginalization in the digital age.
Mr. Tony Elumelu, the Chairman of Heirs Holdings and the United Bank for Africa (UBA) Group, has issued a compelling call for Africa to be deliberately included in the ongoing global discourse surrounding Artificial Intelligence (AI), digital ethics, and governance. He warned that excluding the continent from these critical conversations would inevitably lead to a new form of economic marginalization for Africa.
Elumelu’s remarks were made on October 17, 2025, during the launch of a UBA white paper focused on mobilizing $4 trillion in untapped African capital. This event took place on the sidelines of the World Bank/IMF Annual Meetings 2025. He stressed the imperative for the world to be intentional in integrating Africa into the framework of the digital future.
Africa must be included. The world must be deliberate in including Africa. The conversation on AI governance, ethics, and protocols must not happen without us at the table, Elumelu stated. He further articulated that Digital inclusion in the 21st century is economic inclusion. We must ensure the digital transformation of Africa leads not just to productivity, but to the democratization of prosperity.
The founder of the Tony Elumelu Foundation highlighted that technology, without foundational access and enabling infrastructure, risks exacerbating existing inequalities rather than bridging them. He pointed out that while Africa’s youth possess immense digital talent, their potential is severely hampered by inadequate electricity access and insufficient policy frameworks.
Over 50 per cent of our people don’t have access to electricity. It is unacceptable, he declared, emphasizing the urgency of the situation. If African governments are genuinely interested in dealing with youth unemployment, in transforming the continent, in democratizing prosperity, they must fix the electricity challenge. Our youth are not asking for sympathy. They are asking for systems that work.
Elumelu, whose diverse investments include the power sector, underscored that Africa cannot afford to miss the next wave of global innovation. He urged governments, the private sector, and development partners to transition from mere dialogue to concrete execution. Talking is less than one percent of what matters. The next step is execution. We have talked enough. Since 2000, we’ve been saying ‘Africa Rising.’ Twenty-five years later, we’re still saying the same thing. Aren’t we ashamed? Let’s fix things, starting with electricity.
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The UBA white paper, a collaborative effort with academics, development finance institutions, and policymakers, identified actionable strategies for Africa to unlock over $4 trillion in internal capital. This research, Elumelu noted, aligns with findings from the African Finance Corporation (AFC) regarding the continent’s hidden economic potential. The AFC research shows we have untapped economic resources capable of mobilising over $4 trillion. The UBA initiative brings together government policymakers, global partners, academia, and the private sector to ask: how do we mobilise this capital internally? Nations that developed, did so through internal capital mobilisation. We can do the same, he asserted, reinforcing his belief that Africa’s capacity to generate and retain its own wealth is fundamental for sustainable growth and global competitiveness. He concluded by stating, If we mobilise our own capital, if we show seriousness — more capital will come in from the rest of the world. Investors follow seriousness.
