Elumelu Urges African Firms to Increase Women's Leadership Opportunities

Tony Elumelu, Chairman of Heirs Holdings, has urged African business leaders to increase women's representation in corporate leadership, citing its importance for economic competitiveness and sustainable development. He made this call at the 25th annual conference of Women in Management, Business and Public Service (WIMBIZ) in Lagos. Elumelu emphasized that African economies seeking sustainable growth cannot afford to underutilize the talents and contributions of women.

Elumelu highlighted the leadership structure across his business group, where women occupy several key positions. His wife, Dr. Awele Elumelu, is a founding director of Heirs Holdings and chairs several companies, including Avon HMO and Transcorp Hotels Plc. Other women in leadership positions include Dr. Fumbi Chima, Chair of Heirs Technologies, and Agatha Obiekwugo, Chair of Afriland Properties Plc. Elumelu stated that these appointments reflect his belief that leadership opportunities should be determined by competence and merit, not gender or background.

Elumelu's commitment to female empowerment is also demonstrated through the Tony Elumelu Foundation's entrepreneurship programme. The programme has provided over $120m in seed capital to 24,633 entrepreneurs across 54 African countries over the past 15 years. Women account for 48% of the programme's beneficiaries, and businesses established by the entrepreneurs have generated over 1.5 million jobs and $4.2bn in revenue. Elumelu cited these figures as evidence of the economic value of expanding opportunities for women and supporting entrepreneurship.

Elumelu's Africapitalism philosophy advocates for private-sector-led development through investments that generate both economic prosperity and social wealth. He believes that African businesses and investors have a responsibility to strengthen institutions, broaden access to opportunities, and unlock the continent's entrepreneurial potential. Elumelu emphasized that opportunity in Africa is often distributed by accident of birth, geography, or gender, and that his life's work is to make it distributed by merit instead.

Elumelu challenged business leaders to examine their organizations and dismantle barriers preventing qualified women from reaching top positions. He drew on his experience in various sectors, including banking, power, and hospitality, to make his case. Elumelu urged women, particularly younger professionals and aspiring entrepreneurs, not to wait for approval before pursuing leadership positions or establishing businesses.

Elumelu called on WIMBIZ and other stakeholders to sustain advocacy for women's advancement, noting that meaningful inclusion would require more than public commitments. He emphasized that advocacy got women into the room, but capital would get them to the head of the table. Elumelu's remarks were made in the context of the conference theme, "Rooted, Rising, Ready: Born in Africa, Built for the World."

The conference provided a platform for Elumelu to share his vision for a more inclusive and equitable African economy. His message to business leaders and entrepreneurs is clear: increasing women's representation in corporate leadership is not only a matter of fairness, but also a requirement for competitiveness and sustainable development. As a prominent business leader, Elumelu's commitment to female empowerment and entrepreneurship is making a tangible impact on the African continent.

Key points

• Elumelu urges African firms to increase women's representation in corporate leadership for economic competitiveness and sustainable development.
• The Tony Elumelu Foundation's entrepreneurship programme has provided over $120m in seed capital to 24,633 entrepreneurs across 54 African countries.
• Elumelu believes that leadership opportunities should be determined by competence and merit, not gender or background.