Paris – October 7, 2026. African entrepreneurs do not need charity. They need capital. This is the message that Tony Elumelu delivered in Paris, calling on investors and development institutions to rethink their approach to the new generation of African entrepreneurs. Speaking at the gala dinner of the French-African Foundation, held at the Ministry of Foreign Affairs, the Nigerian businessman and philanthropist stated that the future of relations between France and Africa should be based on investment, entrepreneurship, and risk sharing. Tony Elumelu, CFR, Chairman of Heirs Holdings, acknowledged the complexity of the history between France and Africa, while expressing his willingness to look towards the future. “I did not come to Paris to debate the past,” he told the guests.
Earlier in the day, Tony Elumelu participated in AFRICA Day at Sciences Po, where he engaged with young Africans, French students, and members of the diaspora seeking opportunities, mentorship, and investors willing to trust them.
A theme that resonates with his own journey
Tony Elumelu recalled that at the beginning of his career, someone had given him a chance, even though he did not have the formal qualifications required for the position. This first opportunity deeply influenced his journey. His message is simple: access to opportunities should never depend on luck. This belief has inspired the work of the Tony Elumelu Foundation for over ten years.
Since 2015, the Foundation has invested over $120 million in support of more than 24,000 young entrepreneurs across the 54 countries of the continent. According to Tony Elumelu, these businesses have already contributed to the creation of nearly 1.5 million jobs. For him, these results prove that African entrepreneurs are not asking for charity, but for access to capital and partners willing to believe in their potential. “This continent is not seeking charity,” he said. “It is a continent that demonstrates its attractiveness to investors, driven by entrepreneurship, and represents our future.”
He emphasized that France already plays an important role in this dynamic. Tony Elumelu particularly praised the partnership between the French Development Agency (AFD) and the Tony Elumelu Foundation, as well as the meeting organized in 2018 in Lagos between President Emmanuel Macron and young African entrepreneurs. But, according to him, the relations between France and Africa must now take a new step. “Aid wonders what Africa needs. Partnership is interested in what Africa is building and is willing to share the risks.”
His message is clear: “Not for Africa, but with Africa.”
The gala dinner followed AFRICA Day, an initiative of the French-African Foundation organized in partnership with Sciences Po and the AXIAN Group, which brought together African and French leaders, students, and young professionals. Tony Elumelu concluded his speech by emphasizing the importance of creating opportunities rather than leaving them to chance: “Someone gave me this chance. Ladies and Gentlemen… let’s do the same for the next champion of Africa, wherever they may be.”
