The Chairman, United Bank of Africa Group, Tony O. Elumelu, has revealed that of all continents, Africa has the highest Return On Investment (ROI).
Elumelu, who was speaking at the World Government Summit in Dubai, noted that Africa is the smartest investment destination today, calling upon all investors to focus on the continent.
“With 60% of its population under 25, a booming private sector, and untapped potential in power, infrastructure, finance, and entrepreneurship, the continent offers unmatched returns on investment (ROI),” Elumelu said during the Summit.
“This isn’t charity, it’s the smartest capital allocation of our lifetime. The question isn’t if, but how fast you’ll join us,” he added.
He highlighted Africa’s 15-year track record of delivering impact and wealth through strategic investments.
Elumelu, who is founder and Chairman of Heirs Holdings, a company with capacity to generate 2,000 megawatts of electricity daily, transforming industries and communities.
Through his foundation, he has empowered 20,000 young African entrepreneurs, created over 400,000 jobs, and injected USD100M in seed funding, proving that Africa’s economic future is driven by entrepreneurship and private sector growth.
Key Investment Opportunities in Africa
Growing Demand and Consumption
Africa’s rapidly growing population and expanding middle class are driving demand for goods and services. Household consumption is expected to reach USD2.5 trillion by 2030, more than double the 2015 figure.
Innovation and Entrepreneurship
Africa is witnessing a surge in innovation and entrepreneurship, with fintech startups, renewable energy solutions, and digital payments transforming the continent. Investors can support these innovative minds and potentially benefit from their future successes.
Rapid Digital Transformation
Africa has undergone significant digital transformation, with increasing internet penetration, mobile connectivity, and innovative solutions. The mobile industry’s contribution to Africa’s GDP is expected to grow to almost USD155 billion.
Abundant Natural Resources
Africa is rich in natural resources, including minerals, oil, and gas. Investors can benefit from the continent’s vast resources and contribute to its sustainable development.
Stronger and More Dynamic Economies
The continent is experiencing a shift towards diverse and stronger economies, with a focus on innovation, entrepreneurship, and sustainable development. Investors can tap into this growth potential and support the continent’s economic transformation.
In light of this therefore, Elumelu emphasized that investing in Africa is not charity, but rather the smartest capital allocation of our lifetime.