The International Monetary Fund (IMF) has appointed Tony Elumelu, founder and group chairman of Heirs Holdings, to its prestigious Advisory Council on Entrepreneurship and Growth.

This council, convened by IMF Managing Director Kristalina Georgieva, brings together global business leaders, policymakers, and academics to identify and address regulatory barriers hindering entrepreneurship.

Elumelu, a prominent advocate for entrepreneurship in Africa, has championed the role of entrepreneurship in transforming economies.

Through the Tony Elumelu Foundation, he has mentored and trained over 25,000 African entrepreneurs since 2015, promoting the concept of Africapitalism.

The Advisory Council’s primary objective is to recommend policies that enhance resource allocation, stimulate innovation, and drive sustainable, private sector-led economic growth worldwide.

Elumelu’s appointment underscores his influence in global economic discussions, particularly in fostering entrepreneurship and private sector growth in Africa.

Other notable members of the council include:

– Ufuk Akcigit, Harberger Professor of Economics at the University of Chicago

– Reema Bandar Al-Saud, Saudi Ambassador to the United States

– Marc Benioff, Chairman and CEO of Salesforce

– Ana Botín, Executive Chair of Banco Santander

– Natarajan Chandrasekaran, Chairman of Tata Group

– Margherita Della Valle, CEO of Vodafone Group

– Robert Smith, Founder and CEO of Vista Equity Partners

– Federico Sturzenegger, Argentine Minister of Deregulation and State Transformation

At the inaugural meeting, Georgieva emphasized the council’s role in fostering an environment conducive to innovation, entrepreneurship, and productivity.