In Bangui, the visit of Nigerian businessman Tony Elumelu, president of the Heirs Holdings group and the UBA banking group, made an impression. Invited by the President of the Republic and the Minister of Finance, the founder of the Tony Elumelu Foundation took advantage of his presence at the African Leaders Caucus to encourage private investment in the Central African Republic, a country with largely untapped potential.
Access to electricity below 10%, less than 15% of the population with bank accounts, a GDP of $2.6 billion for more than 5 million inhabitants… Despite these figures, however, the Central African Republic is once again attracting the attention of pan-African investors. During a visit to Bangui, Tony Elumelu, one of the most influential businessmen on the continent, wants to reposition the CAR as a land of opportunities.
“As Africans, we invest in many African countries. We have already invested in about 20 countries. We invest in hospitality, energy, financial services, health, and real estate. I know the Minister of Finance is a visionary because, as African investors, we see opportunities in this great country and we want to take advantage of the investment climate that the Minister of Finance and the President have created to attract investors from the continent.”TONY ELUMELU, President chairman of Heirs Holdings, UBA – Nigeria
The statement is clear. For the founder of the Tony Elumelu Foundation, it is not the lack of infrastructure that should hold back African ambitions, but rather the lack of a collective vision. Investing here is about participating in lasting change, rather than waiting for ideal conditions.
“I tell you, precise and more poignant details will be examined. Everyone knows the most poignant ones.Access to electricity is very critical. We cannot industrialize Africa without solving the electricity problem. But I also want African investors to avoid pointing fingers at this problem unnecessarily. We want to be part of the solution. That’s why, as I said, let’s examine investment opportunities in areas we know: electricity production, financial services for economic capital, and providing empowerment.”
TONY ELUMELU, President chairman of Heirs Holdings, UBA – Nigeria
By focusing on structural sectors such as energy or banking, Tony Elumelu proposes a pragmatic strategy: investing in weak points to make them pillars of development. And his presence in Bangui, in the middle of the African Leaders Caucus meeting, sends a strong signal: confidence is returning, slowly but surely.
