March 28, (THEWILL) – Heirs Holdings Founder and Group Chair, Tony O. Elumelu, has been appointed by the International Monetary Fund (IMF) to its Advisory Council on Entrepreneurship and Growth.
The council, convened by IMF managing director, Kristalina Georgieva, aims to address barriers to entrepreneurship and foster private sector-led economic growth globally.
Elumelu, a leading advocate for African entrepreneurship, is renowned for his work through the Tony Elumelu Foundation (TEF), which has funded, mentored, and trained over 25,000 African entrepreneurs since 2015. A self-made entrepreneur, he champions Africapitalism, the philosophy that Africa’s private sector must play a central role in the continent’s development by making long-term investments that deliver both social and economic value.
The Advisory Council comprises distinguished global business leaders, policymakers, and academics, dedicated to identifying and addressing regulatory barriers to entrepreneurship. Its mandate is to recommend policies that enhance resource allocation, stimulate innovation, and catalyse sustainable private sector-led economic growth.
Elumelu will be instrumental in ensuring that Africa’s entrepreneurial potential is central to global economic policymaking.
Other prominent members of the council include Harberger Professor of Economics, University of Chicago, Ufuk Akcigit; Saudi Ambassador to the United States, HRH Ambassador Reema Bandar Al-Saud; Chair, CEO, and Co-Founder of Salesforce, Mr Marc Benioff; Executive Chair, Banco Santander, Ms Ana Botín; Chairman, Tata Group, Mr Natarajan Chandrasekaran; Chief Executive, Vodafone Group, Ms Margherita Della Valle; Founder, Chairman and CEO, Vista Equity Partners, Mr Robert Smith and Argentine Minister of Deregulation and State Transformation, Mr Federico Sturzenegger.
Speaking at the inaugural meeting of the Advisory Council on Wednesday, March 26, 2025, the IMF Managing Director, Kristalina Georgieva, noted: “The Council brings together a group of leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth.”
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