In a strategic move to address declining global productivity and foster sustainable economic growth, International Monetary Fund (IMF) Managing Director Kristalina Georgieva has convened an Advisory Council on Entrepreneurship and Growth. The newly formed council brings together prominent global leaders from business, finance, academia, and policymaking to explore how macroeconomic and financial policies can create a thriving environment for innovation, entrepreneurship, and private sector growth.

Among the esteemed council members is Tony O. Elumelu, one of Africa’s most influential investors and philanthropists. Elumelu, Founder and Chairman of Heirs Holdings, is widely recognized for his commitment to transforming Africa through strategic investments in financial services, energy, technology, and healthcare. He also chairs the United Bank for Africa (UBA), a pan-African financial institution operating in 20 African countries as well as the UK, France, the UAE, and the US.

Expressing his gratitude for the appointment, Elumelu shared:
“Honoured to receive the invitation of Kristalina Georgieva, Managing Director of IMF, to join IMF’s Advisory Council on Entrepreneurship and Growth.“

Georgieva emphasized the urgency of this initiative, stating, “The medium-term outlook for world economic growth is at its lowest in several decades. Much of the slowdown can be attributed to declining productivity growth.”

The Advisory Council, which includes global industry leaders such as Marc Benioff (Salesforce), Ana Botín (Banco Santander), and Robert Smith (Vista Equity Partners), will meet every three months under Chatham House rules to shape IMF’s policy research and macroeconomic strategies.

With Elumelu’s inclusion, Africa’s entrepreneurial and economic growth potential takes center stage in global policy discussions. The council’s insights will directly inform the IMF’s agenda, shaping policies that drive higher productivity and stronger long-term economic prospects worldwide.