Elumelu calls for investments in AI, digital infrastructure to open Africa’s potential

Muftau Yahaya, October 16, 2025

The Chairman of Heirs Holdings, Tony Elumelu, has said ther must be a deliberate and coordinated global efforts to invest in Artificial Intelligence (AI) and digital infrastructure across Africa to unlock the content’s productivity potential

Elumelu spoke in Washington DC, United State on Wednesday at a seminar on ‘Boosting Productivity Growth in the Digital Age.’

The seminar was held on the side-line of the annual meetings of the IMF/World Bank Group.

The Chairman of the United Bank for Africa (UBA) Plc said that such investments were essential tools for unlocking the continent’s productivity and prosperity in the 21st century.

“When we talk about productivity in today’s age, it is really about people. Productivity is not just about output per worker, it is about opportunity per person,” he noted.

The Heirs group boss said that Africa faced major structural barriers, including infrastructure deficits and limited access to capital.

“The digital era provides a historic chance to leapfrog development stages, just like the continent did with mobile technology and financial inclusion.

“Access to electricity is critical for the advancement of AI and the productivity that comes with it. We need a combination therapy that addresses these challenges for us to reap the benefits we see,” Elumelu added.

He also cited the work of his foundation, The Tony Elumelu Foundation, in collaboration with Google to support young African entrepreneurs. He said that empowering the continent’s youthful population was key to transforming global productivity.

“Our youths are energetic, eager, and willing to perform. When we pool resources to support them, we are not just helping Africa, we are helping the world improve productivity.”

Elumelu, who is also the group Chairman of UBA Plc, pointed out that digital infrastructure and AI investment were not inclusive, adding that they could deepen inequality rather than bridge it.

“AI must help democratise prosperity, not just enrich a few. We need public, private, and development partners including, institutions like the IMF and big tech companies to ensure that AI works for all,” he added.

Recalling Africa’s success with mobile money innovation, Elumelu said the continent could once again lead through innovation and resilience.

He added, “We revolutionised mobile money, not because systems were perfect, but because entrepreneurs innovated within constraints.

“We can do the same with AI if we act decisively.”