Elumelu advocates for youth-led agricultural revolution at IFAD Summit

Tony Elumelu, Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, has called on global leaders and African governments to prioritize youth entrepreneurship as the primary engine for transforming rural economies.

Speaking on Wednesday at the 49th Governing Council of the International Fund for Agricultural Development (IFAD) in Rome, Elumelu emphasized that agriculture must shift from a subsistence activity to a strategic, technology-driven sector capable of sustaining the continent's rapidly growing population.

Addressing a high-level audience including IFAD President Alvaro Lario, Elumelu highlighted the critical intersection of energy and food security.

He argued that Africa cannot achieve industrial or agricultural growth without addressing energy poverty, noting that access to electricity is the fundamental bridge required for young agripreneurs to adopt the digital innovations necessary for modern food systems.

He maintained that investing in young people is the most effective way to strengthen communities and curb the economic exclusion that often fuels youth migration.

During a fireside chat, the billionaire philanthropist shared the success of his foundation, which has already empowered thousands of agripreneurs across Africa, a majority of whom are women.

These ventures have collectively created over 400,000 jobs, providing what Elumelu described as clear proof that young Africans are not seeking handouts but are actively building the continent's future.

He urged for the adoption of blended finance models combining philanthropy with commercial capital, to bypass traditional banking hurdles and high collateral requirements that currently stifle small-scale enterprises.

Elumelu concluded by reinforcing the philosophy of Africapitalism, asserting that the African private sector must take the lead in driving social and economic wealth.

He called for an end to stifling regulatory environments and urged for a collaborative ecosystem where governments provide the enabling infrastructure and policy reforms needed to turn the energy and creativity of African youth into a global pillar of food security.