Elumelu, Others Appointed Into IMF Advisory Council on Entrepreneurship

The International Monetary Fund (IMF) has appointed Heirs Holdings Founder and Group Chairman, Tony Elumelu, to its Advisory Council on Entrepreneurship and Growth. The appointment was announced in a statement on Friday by IMF Managing Director Kristalina Georgieva.

Elumelu, recognized as Africa’s leading advocate for entrepreneurship, has supported over 25,000 African entrepreneurs through his foundation since 2015. The statement praised his dedication to promoting entrepreneurship as a key driver of Africa’s economic transformation.

“A self-made entrepreneur, Elumelu’s commitment to entrepreneurship is at the core of Africapitalism—his belief that Africa’s private sector must play a leading role in the continent’s development by making long-term investments that generate social and economic value. His role on the Advisory Council will ensure Africa’s entrepreneurial potential remains central to global economic policymaking,” the statement read.

The IMF Advisory Council, comprising global business leaders, policymakers, and academics, focuses on identifying regulatory barriers to entrepreneurship while recommending policies that encourage innovation and sustainable economic growth.

Other notable members include University of Chicago Professor Ufuk Akcigit, Saudi Ambassador to the U.S. HRH Reema Bandar Al-Saud, Salesforce CEO Marc Benioff, Banco Santander Executive Chair Ana Botín, Tata Group Chairman Natarajan Chandrasekaran, Vodafone Group CEO Margherita Della Valle, Vista Equity Partners CEO Robert Smith, and Argentina’s Minister of Deregulation, Federico Sturzenegger.

Speaking at the council’s inaugural meeting on March 26, 2025, IMF Managing Director Georgieva stated, “The Council brings together leading experts in business, finance, academia, and policymaking to share insights on how macroeconomic and financial policies can foster innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth.”