Tony Elumelu, chairman of Heir
Holdings, says government policies have been making it hard for African youth
to succeed in their endeavours.
Speaking on Thursday at a session
of the ongoing Spring meetings of the International Monetary Fund and World
Bank Group, Elumelu said governments of African countries need to prioritise
their youth.
He described youth as
“determined, energetic, hungry to succeed and make a difference and are
extremely intelligent” saying “the environment makes it difficult for them to
succeed.”
“Governments need to understand
that if we prioritise the young ones and make the operating environment
conducive, they would be able to optimise the required intellects, they would
do well and we would be able to solve some of the problems in the continent,”
he said.
“So, regulation is major, intellectual
property is very important, incentivising investors are all factors that will
help us address these issues.
“Digital connectivity is a major
issue in Africa and you can’t fix it if you don’t have reliable access to
electricity. So, if we want to truly address the issue of digital economy in
Africa, these challenges have to be fixed.”
He said investors will be willing
to come to Africa if the policy issues are fixed.
Elumelu is also the chairman of
the Tony Elumelu Foundation, which annually gives entrepreneurs seed capital to
invest in their enterprises.
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