Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, Mr. Tony Elumelu, on Tuesday called for sustained investment in agriculture and young entrepreneurs as a pathway to jobs creation, food security and inclusive economic growth across Africa.
Elumelu made the call while addressing global leaders at the 49th Governing Council of the International Fund for Agricultural Development (IFAD) in Rome, where he spoke alongside IFAD President, Mr. Alvaro Lario, moderator Melissa Bell and young agripreneurs from across the continent.
He noted that Africa remains the youngest continent in the world, with about 60 per cent of its population under the age of 25, adding that by 2030, an estimated 440 million young Africans would enter the labour market.
“At the same time, 55 per cent of Africans live in rural areas. This means agriculture is not just a livelihood — it is a strategic resource that feeds our towns and cities, powers rural economies, and sustains communities,” Elumelu said.
According to him, Africa’s growth ambitions cannot be realised without addressing food security and energy needs, stressing that agriculture sits at the heart of both challenges.
“We cannot grow Africa without power, and we cannot grow Africa without food,” he stated.
Elumelu explained that investing in young entrepreneurs delivers far-reaching impact beyond individual businesses, as it strengthens communities, reduces poverty, creates jobs and enables rural economies to grow from within.
He described youth migration as largely a symptom of economic exclusion, arguing that creating opportunities at home would reduce the pressure on young Africans to seek livelihoods elsewhere.
Highlighting the work of the Tony Elumelu Foundation, he disclosed that 21 per cent of the 24,000 entrepreneurs empowered by the Foundation operate in agriculture and agribusiness. Collectively, he said, these entrepreneurs have created over 400,000 direct and indirect jobs, strengthening food systems, value chains and rural livelihoods across the continent.
“This is clear proof of the potential of agriculture to uplift communities across Africa,” Elumelu added.
He emphasised that Africa’s young people are not waiting for handouts, but are actively building solutions and shaping the continent’s future.
“Young Africans are not waiting for handouts. They are building Africa’s future,” he said.
The IFAD Governing Council meeting brought together policymakers, development partners and private sector leaders to discuss strategies for transforming rural economies, empowering youth and ensuring sustainable food systems worldwide.
