Tony Elumelu Joins IMF Entrepreneurship Advisory Council

On Apr 2, 2025

The International Monetary Fund (IMF) has appointed Tony O. Elumelu, Founder and Group Chairman of Heirs Holdings, to its Advisory Council on Entrepreneurship and Growth.

Elumelu, a leading advocate for African entrepreneurship, has championed economic transformation through the Tony Elumelu Foundation (TEF), which has funded, mentored, and trained over 25,000 African entrepreneurs since 2015. His philosophy of Africapitalism emphasises the role of the private sector in driving long-term economic and social development across the continent.

The IMF Advisory Council on Entrepreneurship and Growth consists of global business leaders, policymakers, and academics dedicated to identifying and addressing regulatory barriers to entrepreneurship. The Council’s mandate includes recommending policies to improve resource allocation, drive innovation, and promote private sector-led economic growth.

Mr. Marc @Benioff, Chair, CEO, and Co-Founder of @Salesforce; Ms. @AnaBotín, Executive Chair, @BancoSantander; Mr. Natarajan Chandrasekaran, Chairman, Tata Group (@TataCompanies);

— Tony O. Elumelu, CFR (@TonyOElumelu) March 28, 2025

Elumelu’s appointment ensures that Africa’s entrepreneurial potential remains central to global economic policymaking.

Other distinguished members of the Council include:

Prof. Ufuk Akcigit – Harberger Professor of Economics, University of Chicago

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

Marc Benioff – Chair, CEO, and Co-Founder, Salesforce

Ana Botín – Executive Chair, Banco Santander

Natarajan Chandrasekaran – Chairman, Tata Group

Margherita Della Valle – Chief Executive, Vodafone Group

Robert Smith – Founder, Chairman, and CEO, Vista Equity Partners

Federico Sturzenegger – Argentine Minister of Deregulation and State Transformation

This week I had the honor of convening our Advisory Council on Entrepreneurship and Growth. I’m grateful for the insights from exceptional thought leaders on how macroeconomic and financial policies can enhance innovation, entrepreneurship & productivity. https://t.co/07P7qPLriD

— Kristalina Georgieva (@KGeorgieva) March 29, 2025

Speaking at the inaugural meeting of the Advisory Council on Wednesday, 26 March 2025, the IMF Managing Director, Kristalina Georgieva, noted: “The Council brings together a group of leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth.”