Nigerian billionaire, Elumelu bags new appointment with the IMF

Elumelu will join eight other eminent professionals on the IMF advisory council, including Professor Ufuk Akcigit from the University of Chicago, HRH Ambassador Reema Bandar Al-Saud from Saudi Arabia, and Marc Benioff, CEO of Salesforce.

The Advisory Council on Entrepreneurship and Growth was established by IMF Managing Director, Kristalina Georgieva as part of the International Monetary Fund’s efforts to support its 191 member countries in creating more conducive macroeconomic and financial conditions for strong and sustainable economic growth.

The council’s mission is to recommend policies that promote better resource allocation, stimulate innovation, and drive sustainable private sector-led economic growth

The Advisory Council will meet approximately once every three months in structured discussions under Chatham House rules.

This prestigious position solidifies Elumelu’s influence in global financial and economic affairs.

As the Founder and Group Chair of Heirs Holdings, Elumelu will bring his expertise to the council, which aims to identify and address regulatory barriers to entrepreneurship.

The council’s mandate is to recommend policies that enhance resource allocation, stimulate innovation, and catalyze sustainable private sector-led economic growth.

Elumelu’s appointment underscores his reputation as a leading voice in Africa’s private sector, advocating for entrepreneurship, economic empowerment, and sustainable development.

Through his foundation, he has empowered over 25,000 African entrepreneurs with funding, mentorship, and business training since 2015.

Tony Elumelu, a Nigerian businessman and philanthropist, has built a vast business empire spanning banking, energy, hospitality, and healthcare, solidifying his status as a billionaire.

As Chairman of Heirs Holdings and the United Bank for Africa (UBA), he has played a pivotal role in shaping Nigeria’s financial landscape.

According to an analysis by MoneyCentral, Elumelu’s net worth is estimated at $2.15 billion, driven by his stakes in various companies that have recorded significant growth in recent years.

His wealth is largely attributed to strategic investments and leadership in the private sector.

Through Heirs Holdings, he has expanded into key industries such as power generation and insurance, while his Tony Elumelu Foundation has empowered thousands of African entrepreneurs, reinforcing his influence in business and philanthropy.