PRESS
RELEASE—Philanthropists, Tony O. Elumelu, Bill Gates
discuss the role of global philanthropy on business, politics and culture at Le
Club de l'Economie hosted by Le Monde in Paris
Speaking at the Le Club de l’Economie in
Paris France on Monday, Tony O. Elumelu, Chairman of Heirs Holdings and UBA Plc
and Founder of the Tony Elumelu Foundation, made a call to the French business
community, global stakeholders and influential Africans in the development
world to embrace ‘structured philanthropy’ in support of rising entrepreneurs
with great potential, as a means to achieving sustainable development in
Africa.
He made this call during a live interview
conducted by Serge Michel, Editor-in-Chief at Le Monde Afrique, to an audience
of high level political and business leaders, including the French Development
Agency, Ministry of Foreign Affairs, representatives of international
organisations, such as the World Bank, and the IMF, as well as representatives
of civil society and selected journalists. This is coming a few days before the
Tony Elumelu Foundation Entrepreneurship Forum, the largest annual gathering of
African entrepreneurs, scheduled to take place on October 28-29th in Lagos,
Nigeria, to celebrate the 2016 cohort of Elumelu Entrepreneurs, selected from
over 45,000 applicants in 54 African countries.
In what has become a formidable gathering
featuring a series of talks on business and economic issues, this special
edition of ‘Le Club de l’Economie’ was dedicated to the influence of global
philanthropy on business, politics and culture, featuring the world’s most
influential philanthropists, including the world’s richest man, Bill Gates.
Prior to his participation at Le Monde, Mr. Elumelu paid a courtesy call to the
French Development Agency (AFD), where he met with CEO Mr. Remy Rioux to
discuss concrete ways in which AFD can be supported by local partners ahead of
plans to increase its annual financing commitment to Africa. Mr. Elumelu was
joined by Bill Gates, his co-panelist at the Le Monde Philanthropy Forum.
Elumelu explained the challenges in
developing Africa. “The biggest obstacles to development in Africa are a lack
of an enabling environment, infrastructure and access to electricity. Imagine a
young entrepreneur having to provide power access for a growing business."
He proffered solutions to some of the
obstacles saying: “It is important that Africans increasingly embrace
‘structured giving’ because it helps us, assist worthy individuals who are not
part of our families, or neighbourhoods, but who have great need and
potential.”
Further expounding on the benefits of
Africapitalism, Elumelu cited the achievements of the Tony Elumelu Foundation’s
Entrepreneurship Programme as a valid example of how Africans can solve their
own problems via entrepreneurship and better governance.
“Better governance will solve our problems.
We can't afford to ignore entrepreneurship. We need to do both. We need
government to realize that the success of entrepreneurs will lead to more
success for government. Government can't create all the employment
opportunities needed in the economy. Only the private sector can do this.
Government must create an enabling environment to allow businesses to thrive.”
Bill Gates also a panelist at the event
buttressed this point during his session,
"States can no longer fund themselves
their development, by giving back, we tap into the best part of ourselves.
Everything significant we've done was through partnerships."
Elumelu concluded by encouraging French
investors to connect with local partners, while also calling on both the public
and private sector to invest back into the continent by focusing on
entrepreneurship.
Le Club de L’Economie is organised by leading
French newspaper, Le Monde. Other participants at the event included Bill
Gates, Bill & Melinda Gates Foundation; Jean-Marc Ayrault, Minister of
Foreign Affairs, France; The Aga Khan, spiritual head of the Ismaili Muslim
community and Remy Rioux, CEO of Agence Francaise de Development.