BU NKECHI NAECHE-ESEZOBOR(WASHINGTON D.C.)—Nigerian investor and philanthropist, Tony Elumelu, has urged global leaders and development institutions to channel more investment into Artificial Intelligence (AI) and digital infrastructure across Africa, warning that the continent risks being left behind in the fast-evolving digital economy without decisive action.
Elumelu, who is Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation (TEF), made the call on Wednesday in Washington D.C. during a seminar themed “Boosting Productivity Growth in the Digital Age”, held on the sidelines of the IMF/World Bank Annual Meetings.
According to him Productivity in today’s world is really about people — not just output per worker, but opportunity per person.
Elumelu, who doubles as founder of the Tony Elumelu Foundation (TEF), noted that Africa faces persistent challenges such as infrastructure deficits, limited access to finance, and unreliable power supply, but stressed that the digital era provides a unique opportunity to leapfrog development stages.
“Access to electricity is critical for the advancement of AI and the productivity that comes with it. We need a holistic approach that tackles infrastructure and inclusion together,” he said.
On TEF collaboration with Google to empower young African entrepreneurs, Elumelu said “Africa’s youth population remains the continent’s greatest asset.
“Our youths are energetic, creative, and ready to perform. When we empower them with digital tools and access, we are not only transforming Africa — we are boosting global productivity,” he said.
He cautioned that AI must be inclusive. “AI must democratise prosperity, not deepen exclusion. We need collaboration between governments, development partners, and big tech firms to make AI work for all.”
Drawing parallels with Africa’s leadership in mobile money innovation, Elumelu said “We revolutionised mobile money because entrepreneurs innovated within constraints. We can do the same with AI — but we must act now.”
He implored African leaders, the IMF, World Bank, and private investors to prioritise digital inclusion, infrastructure, and entrepreneurship to unlock the continent’s full potential.
