Chairman of Tony Elumelu Foundation, Mr. Tony Elumelu, CFR, has urged young Africans to seize opportunities, develop clear roadmaps and build strategic partnerships as they seek to create businesses capable of competing and scaling across the continent and beyond.
Elumelu gave the charge while speaking on the theme, “How Can We Grow Africa Champions in the Digital Age,” at the French-African Foundation Africa Day held on Saturday in Paris
Speaking alongside Hassanein Hiridgee, with Haby Niakate of Brut as moderator, the renowned entrepreneur and philanthropist reflected on the opportunity that shaped his own career, saying he was once given a job for which he was not fully prepared and that someone’s decision to take a chance on him ultimately changed his life.
According to him, that experience has informed his lifelong commitment to creating opportunities for others, particularly young Africans.
“One of my strongest convictions is that we must democratise luck and make opportunities accessible for all young Africans,” Elumelu said.
He challenged aspiring entrepreneurs to overcome the fear of inadequacy and take the first step, stressing that waiting until one feels completely prepared could become a barrier to success.
His message, he said, was simple: “Start before you are ready.”
Elumelu, however, emphasised that taking the plunge should be accompanied by preparation, learning and deliberate capacity building.
He advised young entrepreneurs to study, acquire the necessary skills and continuously learn from real-world experience.
He also emphasized the importance of having a clear and achievable roadmap, recalling that when he and his partners started Standard Trust Bank (STB) in 1997, they adopted a three-stage strategy that provided a long-term direction while breaking the journey into manageable milestones.
That strategic approach, he said, contributed to the growth and expansion of the business across more than 20 African countries and into major global financial centres.
Beyond individual enterprise, Elumelu said Africa’s economic transformation would require collaboration among businesses and entrepreneurs across the continent, noting that no individual or company could build Africa alone.
He urged entrepreneurs to be deliberate in choosing business partners, advising them to seek partners whose purpose and business objectives align with theirs.
Elumelu also linked the development of African business champions to the empowerment of young people, pointing to the work of the Tony Elumelu Foundation in providing opportunities for aspiring entrepreneurs across the continent.
He said the Foundation had empowered more than 27,000 young African entrepreneurs across all 54 countries, stressing that supporting young people to translate their ideas into viable businesses amounted to investing in Africa’s future.
“Joblessness is a betrayal of our youth and so when we empower them, we empower our future,” he said.
Elumelu maintained that Africa’s next generation of businesses could thrive if the continent created the right conditions for entrepreneurship, talent development, cross-border expansion and meaningful partnerships.
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He therefore urged young Africans to pursue their ambitions with determination and, whenever they have the opportunity, extend the same to others, helping to create a new generation of African entrepreneurs and leaders.
“To every young person my message to you is: Start. Have a roadmap. Find the right partners. And when you get the opportunity, create one for someone else,” he said.
