BUSINESS
| WHEN IT COMES TO AFRICA, WE WANT MORE
For too long and for too
many people, the continent
“Africa” evokes images of
poverty, disease, hunger and
backwardness. Even worse
these images conjure a sense
of hopelessness!
6 •
The Lion King
• July - September 2016
WHEN IT COMES TO AFRICA, WE
WANT MORE -
TONY ELUMELU
Chairman of UBA Plc, Mr. Tony Elumelu delivering the
keynote address at the Opportunity Africa Conference
organised by Senator Christopher Coons in the US
P
eople believed similar things
about China, Brazil and India not
too long ago, but now that these
countries are economic powerhouses,
the narrative has changed.
Yes, it is true that, today, Africa is
home to: Two thirds of the world’s HIV/
AIDs infected persons and 90% of its
orphans; 90 million kids who are out of
school; Over a dozen undemocratic
or insufficiently democratic govern-
ments; Millions of people who are
caught in civil conflicts and vulnerable
to starvation.
Wanting change should not blind us
to the current realities; indeed these
facts should make us all ever more
committed to achieving change.
But that is not the whole story about
Africa. Africa is the cradle of mankind
and ancient civilizations; it is home to
amazing cultures that have touched
the world in music, art and literature; it
gave us the extraordinary example of
Nelson Mandela.
However, most importantly for me,
Africa is a continent of a generation
of entrepreneurs. Home probably to
the largest group of entrepreneurs on
this planet.
Africa is also the home of a young and
growing middle-class that has strong
purchasing power. A middle-class
that likes baseball caps, iPhones, Kias,
CNN and Beyonce. In other words, in
Africa lies a huge growing market for
American products.
Clearly, over the last two decades,
something has been happening
in Africa! SUCCESS is happening in
Africa! Opportunity is happening in
Africa. And I am living proof of this!
I have enjoyed success in banking, but
also in growing agricultural products
for our people, providing healthcare,
investing in power to drive our econo-
my, resources that can bring value to
