African Business Leader Calls for Private Investment After Western Aid Cuts
Tony Elumelu, chairman of Heirs Holdings and the United Bank for Africa, called for private investment in African infrastructure during an interview at the AfricaForward summit in Nairobi. The comments come as Western development aid reductions take effect across the continent.
thesouthafrican.comTony Elumelu, chairman of Heirs Holdings and the United Bank for Africa, said African countries must address their own challenges rather than rely on external support. Elumelu made the remarks during an interview with FRANCE 24's @mperelman on the sidelines of the AfricaForward summit in Nairobi.
He called on private sector players to invest in building the continent's infrastructure. The statements were made as Western development aid reductions continue to affect African economies. Elumelu's comments reflect a broader discussion at the summit about shifting sources of development financing.
Key Facts
Potential Impact
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Private companies may increase infrastructure spending in African markets.
Transparency Panel
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