A NEW DAWN BECKONS...As Africa Global Bank UBA Chairman Tony Elumelu Honored to Speak at the World Bank & IMF Annual Meetings 2025 on “Boosting Productivity Growth in the Digital Age”

#The United Bank for Africa (UBA) Group Chairman, Tony Elumelu, has been honored to participate in the prestigious World Bank & IMF Annual Meetings 2025, held in Washington, D.C. During his keynote address, Elumelu shared his insights on "Boosting Productivity Growth in the Digital Age," highlighting the critical role that technology and innovation play in driving economic development in Africa.

Elumelu emphasized that Africa stands at a defining moment, where "massive and coordinated investment" is needed to unlock productivity and opportunity for its young population. He stressed that artificial intelligence (AI) holds immense potential to create meaningful impact in sectors such as healthcare, education, and agriculture, but this is achievable only if inclusive systems, access to capital, and digital skills are prioritized. "Digital transformation must not just increase productivity, it must democratize prosperity," he noted.

The UBA Group Chairman called for the mobilization of $4 trillion in domestic capital across Africa to drive large-scale investments in AI, energy, and infrastructure. This, he said, would help address the continent's infrastructure and development challenges without placing additional strain on government budgets. Elumelu also emphasized the need for African voices in shaping global AI ethics and governance, arguing that "inclusion is not automatic, it must be intentional."

Through his foundation, Elumelu has supported over 20,000 young entrepreneurs across Africa, equipping them with the tools and resources needed to succeed. His philosophy of "Africapitalism" – the belief that the private sector can drive economic and social development in Africa – has been the cornerstone of his initiatives. 

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