We Have So Much Infrastructure Deficit On The Continent. We Need Private Capital Investments

Tonight’s Elumelu Urges Investment in Africa’s Energy Infrastructure to Unlock AI Potential

At the recently concluded Qatar Economic Forum, Tony Elumelu, Chairman of United Bank for Africa and one of Africa’s leading investors and philanthropists, issued a powerful call to action on the urgent need to bridge infrastructure gaps across the African continent particularly in the energy sector.

Speaking in an interview with Bloomberg on the sidelines of the forum, Tony Elumelu stressed that Africa’s persistent electricity deficits present a major obstacle to the continent’s ability to harness the transformative power of artificial intelligence (AI). Without reliable energy, he argued, the continent risks being left behind in the global digital revolution.

“For me as an African and as an African investor who invests in over 24 African countries and on four continents outside Africa, I see capital flow as very critical and transformative for Africa in particular,” Tony Elumelu said.

 “We have so much infrastructure deficit on the continent. We need private capital investments. We have so much deficiency in electricity, access to electricity for everyone.”

The global conversation on AI, data centers, and tech advancement, he noted, often overlooks a foundational issue for Africa power. “We’re talking about AI today. How can we build and power data centers if we don’t have access to electricity?” he asked pointedly. His remarks echo a growing concern that while AI continues to revolutionize industries worldwide, Africa’s limited digital infrastructure especially in energy may exacerbate the digital divide unless significant investments are made. 

As Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation, Tony Elumelu has long championed the need for sustainable development, inclusive growth, and entrepreneurship in Africa. His message at the Forum was clear: bridging Africa’s infrastructure and energy gap is not just an African problem, it’s a global priority.