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Dangote Davos

Dangote, Elumelu at Davos, call for multilateral support for African entrepreneurs

Leading African richest man, investor and industrialist, Alhaji Aliko Dangote and his compatriot, Mr. Tony Elumelu who doubles as the chairman of United Bank for Africa (UBA) Plc, and founder, Tony Elumelu Foundation (TEF), have stressed called for more realistic support the much-needed growth in the African continent by supporting entrepreneurs.

According to them, time has come for global organisations and multinational institutions to see Africa as investment destination to fight poverty as African poverty will continue to negatively impact global growth in business.

Speaking on the sidelines at the 2018 World Economic Forum that ends today in Davos, Switzerland, both Nigerians averred that Africa remains the best place to invest in modern technology as millions of entrepreneurs are willing to access development supports that will spike global industrial revolution and eradication of poverty.

Elumelu made a passionate appeal, saying time has come for global brands and organisations to come together to provide solutions to key challenges negatively impacting African economies.

Key areas of concerns according to the chairman of Heirs Holdings include power supply and infrastructural challenges.

Continuing, Elumelu informed global business moguls on efforts he has been making through TEF in empowering 10,000 African youths, recalling that “We have seen that our interventions of 1,000 beneficiaries every year cannot be enough, in the first year, for instance, we had about 20,000 applications, we selected only 1,000; by the second year, it rose to 40,000 where another 1,000 was selected; last year, which was the third, we had 98,000 and we again selected 1000. It has become imperative to create more opportunities and to engage with our friends and partners and those who love Africa and who believe in this form of development that is truly sustainable.  “So we reached out and I am happy that Red Cross came through and they have committed $1m, so now, we would not just be talking about 1,000 entrepreneurs, but now, it would be 1,200 entrepreneurs. Thanks to Red Cross for the additional 200.”

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