On April 1, 2025, Tony O. Elumelu, Founder and Chairman of Heirs Holdings, was appointed to the IMF Advisory Council on Entrepreneurship and Growth. This council, chaired by IMF Managing Director Kristalina Georgieva, is tasked with promoting economic policies that support entrepreneurship. Elumelu, recognized for his commitment to Africa, will contribute his expertise.

A staunch advocate of Africapitalism, Elumelu has dedicated his career to supporting entrepreneurship on the continent. Through his Tony Elumelu Foundation, he has supported more than 25,000 African entrepreneurs since 2015, advocating for a business model that generates both long-term economic and social benefits. The entrepreneur joins a group of global leaders to encourage reforms aimed at stimulating innovation and creating an environment conducive to private growth.

Group Chairman of the United Bank for Africa (UBA) since 2014, Elumelu also led Transcorp Plc, a diversified company in key sectors such as agribusiness, energy and hospitality.