Chairman of Heirs Holdings, Tony Elumelu, has called on African governments, financial institutions, and development partners to embrace artificial intelligence (AI) and digital technologies as tools for shared prosperity across the continent. Speaking at a high-level panel on “Boosting Productivity Growth in the Digital Age” in Washington DC, Elumelu emphasized that digital growth must be inclusive to prevent Africa’s youth and potential from being left behind.
Elumelu, a renowned entrepreneur and philanthropist, stressed that productivity in the modern era is not only about economic output but about creating opportunity for every citizen. He noted that while digital transformation has already begun to reshape critical sectors such as healthcare, energy, and finance, Africa continues to struggle with an electricity deficit and limited capital access. “We need to democratize prosperity,” he said. “Digital inclusion must mean economic inclusion for all.”
Highlighting the urgent need to invest in Africa’s youth, Elumelu warned that the continent risks missing out on its demographic dividend if young people remain excluded from innovation. “Africa’s youth are energetic and ambitious. If we fail to create opportunities for them, it will hurt our collective progress,” he cautioned. He further noted that over 50 percent of Africans still lack access to electricity, while the continent requires about $40 billion annually to bridge infrastructure gaps and promote efficient, inclusive digital systems.
Echoing Elumelu’s call, IMF Managing Director Kristalina Georgieva underscored the need to close Africa’s energy and infrastructure gaps to ensure it benefits from the digital revolution. She warned that artificial intelligence would reshape global labor markets, impacting 60 percent of jobs in advanced economies and up to 40 percent in emerging ones. “The AI wave is coming fast, and many nations are unprepared. We must move from discussion to action,” Georgieva said, urging collaboration between the public and private sectors.
Saudi Arabia’s Finance Minister, Mohammed Aljadaan, also stressed the importance of education reform to equip young people with adaptable, future-ready skills. “We must prepare students to learn and relearn continuously. SMEs stand to gain the most from AI, but they are also the slowest to adopt it,” he observed. The panel concluded with a shared message: Africa’s digital future depends on inclusive investment, forward-looking policies, and strong partnerships between governments, entrepreneurs, and global institutions.
source: The sun