Chairman of Heirs Holdings, Mr. Tony O. Elumelu, CFR, has called for greater global investment in youth entrepreneurship and agriculture as a pathway to sustainable development across Africa.
Elumelu made the call while addressing global leaders at the 49th Governing Council of the International Fund for Agricultural Development (IFAD) in Rome. He spoke alongside IFAD President, Dr. Alvaro Lario, moderator Melissa Bell, and a panel of young agripreneurs.
Highlighting Africa’s demographic reality, Elumelu noted that the continent is the youngest in the world, with 60 per cent of its population under the age of 25. He added that by 2030, an estimated 440 million young Africans are expected to enter the labour market, creating both a significant opportunity and a pressing challenge.
“At the same time, 55 per cent of Africans live in rural areas,” he said, stressing that agriculture must be viewed not merely as a subsistence activity but as a strategic sector capable of driving economic transformation.
According to him, agriculture remains central to Africa’s development, serving as a source of food security, rural employment, and economic stability. “We cannot grow Africa without power, and we cannot grow Africa without food,” he stated, underscoring the interconnectedness of infrastructure, food systems, and economic growth.
Elumelu emphasised that investing in young entrepreneurs produces multiplier effects that extend beyond individual beneficiaries. He explained that empowering youth-led businesses strengthens communities, reduces poverty, creates employment opportunities, and enables rural economies to develop sustainably from within.
Addressing the issue of youth migration, he described it as a symptom of economic exclusion, arguing that providing economic opportunities at home is key to addressing the challenge.
Through the Tony Elumelu Foundation, he disclosed, 24,000 entrepreneurs across Africa have been empowered, with 21 per cent operating in agriculture and agribusiness. Collectively, these businesses have created more than 400,000 direct and indirect jobs, contributing to stronger food systems, improved value chains, and enhanced rural livelihoods.
The figures, he said, demonstrate the transformative potential of agriculture when young people are given access to capital, mentorship, and enabling policies.
“Young Africans are not waiting for handouts. They are building Africa’s future,” Elumelu told the gathering.
The IFAD Governing Council meeting brought together policymakers, development partners, and private sector leaders to deliberate on strategies for promoting rural development and strengthening global food systems.
