In an interview with FRANCE 24 on the sidelines of the Africa-France summit in Nairobi, Tony Elumelu, chairman of Heirs Holdings and United Bank for Africa, said "we [in Africa] need to fix our problems ourselves" as Western aid cuts bite, calling on the continent's private sector to step up and invest in electricity and infrastructure.
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TÊTE À TÊTE © FRANCE 24 12:02 Issued on: 19/05/2026 - 12:24 12:02 min Share From the show Reading time 1 min In an interview with FRANCE 24 on the sidelines of the Africa-France summit in Nairobi, Tony Elumelu, chairman of Heirs Holdings and United Bank for Africa, said "we [in Africa] need to fix our problems ourselves" as Western aid cuts bite, calling on the continent's private sector to step up and invest in electricity and infrastructure.
As Western development aid shrinks, Elumelu said the continent can no longer rely on outside help and that wealthy Africans have a responsibility to "democratise prosperity".
Elumelu, who founded the Tony Elumelu Foundation in 2010, said the private sector could not wait for governments to act. He identified electricity and mass transportation as the continent's most urgent priorities, warning that the African Continental Free Trade Area had "not taken off so strongly yet" due to those infrastructure gaps.
Speaking at the forum convened by French President Emmanuel Macron — whom Elumelu praised for spending "3 to 4 days" on Africa as a G7 leader — he nonetheless called for concrete follow-up. "Enough of talking," he said. "Let's get things done." By: Marc Perelman Advertising Related keywords economy Africa Global development
