UBA chairman, Elumelu, joins IMF advisory council on entrepreneurship, growth

The International Monetary Fund (IMF) has appointed United Bank for Africa (UBA) Group Chairman, Tony Elumelu, to its Advisory Council on Entrepreneurship and Growth.

The council brings together business leaders, policymakers, and academics to tackle regulatory barriers to entrepreneurship and promote economic development.

Elumelu, a strong advocate for African entrepreneurship, has supported, mentored, and trained several African entrepreneurs since 2015 through the Tony Elumelu Foundation, including 418 from Zambia.

His role on the council is expected to highlight Africa’s entrepreneurial potential in global economic policymaking.

Read more: Strengthening economic ties: UBA CEO Africa Visits Zambia

At the council’s inaugural meeting, IMF Managing Director, Kristalina Georgieva, stated the importance of fostering innovation, entrepreneurship, and productivity as essential elements for a thriving private sector and strong economic growth.

She noted that the council would provide insights on how macroeconomic and financial policies can create a supportive business environment.

The council’s mandate is to recommend policies that enhance resource allocation, stimulate innovation, and promote sustainable private-sector-led economic growth.

Other members included Professor Ufuk Akcigit of the University of Chicago, Saudi Ambassador to the United States HRH Ambassador Reema Bandar Al-Saud, Salesforce Chief Executive Officer, Marc Benioff, Banco Santander Executive Chair, Ana Botín, Tata Group Chairman Natarajan Chandrasekaran, Vodafone Group Chief Executive Officer Margherita Della Valle, Vista Equity Partners Chief Executive Officer Robert Smith, and Argentine Minister of Deregulation and State Transformation Federico Sturzenegger.

Elumelu, who has consistently championed entrepreneurship as the key to Africa’s economic transformation, is expected to use his position to advocate for policies that empower entrepreneurs and drive inclusive economic growth globally.

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