After leaving the banking world, Elumelu set up a private investment firm, Heirs Holdings. Today, he has a clear goal to change the lives of 10 million people in the next 10 years through “Africapitalism”, a term which he coined.
According to Heirs Holdings, Africapitalism is: “The private sector’s commitment to Africa’s development through long-term investment in strategic sectors of the economy that create economic prosperity and social wealth. It is a call-to-action for Africans to take primary responsibility for our own development and for non-Africans to evolve their thinking about how best to channel their efforts and investments in the region.”
Elumelu recently rejoined UBA as Chairman.
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