Tony Elumelu is appointed to the Global Advisory Council on Entrepreneurship and Growth by the IMF

Managing Director Kristalina Georgieva has named Tony Elumelu to the IMF Advisory Council on Entrepreneurship and Growth.

The International Monetary Fund (IMF) has named Tony Elumelu, the founder and group chair of Heirs Holdings, to its Advisory Council on Entrepreneurship and Growth. Kristalina Georgieva, the IMF Managing Director, called the meeting.

Africa’s foremost proponent of entrepreneurship, Elumelu, whose Foundation has since 2015 provided funding, coaching, and training to more than 25,000 African business owners, promotes entrepreneurship as the catalyst for the continent’s economic development.

According to a statement, Elumelu is a “self-made entrepreneur,” and his embrace of entrepreneurship is central to his idea of Africapitalism, which holds that the continent’s private sector can and should take the lead in its growth.

The statement made last night claims that this has encouraged the businessman to undertake long-term investments that yield both economic and social benefits.
According to the statement, the Advisory Council is made up of academics, legislators, and executives from multinational corporations who are committed to identifying and removing regulatory obstacles to entrepreneurship.

According to the statement, Elumelu will play a crucial role in making sure that Africa’s entrepreneurial potential is at the forefront of international economic policymaking. Its mandate is to suggest policies that improve resource allocation, foster innovation, and accelerate sustainable private sector-led economic growth.

Additional members of the Council include Mr. Marc Benioff, the Chair/CEO and co-founder of Salesforce; Saudi Ambassador to the United States, HRH Ambassador Reema Bandar Al-Saud; and Professor Ufuk Akcigit, Harberger Professor of Economics, University of Chicago.

Additionally, there is Ms. Ana Botín, Executive Chair of Banco Santander; Mr. Natarajan Chandrasekaran, Chairman of Tata Group; Ms. Margherita Della Valle, Chief Executive of Vodafone Group; Mr. Robert Smith, Founder, Chairman, and CEO of Vista Equity Partners; and Mr. Federico Sturzenegger, Minister of Deregulation and State Transformation, Argentina.

The IMF Managing Director, Kristalina Georgieva, stated during the Advisory Council’s first meeting on Wednesday, March 26, 2025, that the opinions and backgrounds of the chosen individuals will influence how financial and macroeconomic policies can foster an atmosphere that encourages innovation, entrepreneurship, and productivity.

In order to exchange ideas and experiences on how macroeconomic and financial policies can foster innovation, entrepreneurship, and productivity—essential components of a robust private sector and robust economic growth—the Council convenes a group of top experts in business, finance, academia, and policymaking, Georgieva said.