Elumelu Seeks Mobilization of Africa's Domestic Capital
Tony Elumelu, Chairman of UBA Group, has called for the urgent mobilization of Africa's estimated $4 trillion in domestic capital to address the continent's infrastructure and development challenges.
Speaking at a seminar, Boosting Productivity Growth in the Digital Age, at the IMF/World Bank Meetings, Elumelu emphasized the transformative potential of unlocking local capital through smart public-private partnerships.
It's estimated that we have over $4 trillion in domestic capital on the continent of Africa. If we can mobilize this, we will not put strain on the government's fiscal budget.
Elumelu's proposal aims to leverage domestic capital to drive development without overburdening government budgets.
Author's summary: Elumelu calls for mobilizing Africa's $4 trillion domestic capital.