Featuring the TEF CEO, Dr Wiebe Boer in a panel at the New York Forum Africa in Gabon, earlier this year.
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In Africa, the act of selfless giving for the betterment of the community – a form of ubuntu – is hardly new. The entrepreneurial spirit has long been alive and well too. Now it seems that as business has boomed in sectors from mining and cement to sugar and telecommunications, these two things have collided to create a large number of high-net wealth individuals who appear to have a deep desire to give back.
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The turnaround of Africa’s economy gets a lot of attention. Yet, despite a gradual evolution in thinking, many investors and philanthropists still miss two important points about how and why Africa is succeeding: African-led entrepreneurship is growing rapidly and needs to be encouraged further; and longterm capital commitments that build economic prosperity and social wealth should not be a niche asset class— they should be the heart of all investing in Africa.
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Tony Elumelu is in his office on the corner of a serene Ikoyi street, not far from the bustling Obalende taxi and bus park, in the heart of Lagos. Documents are strewn across a large desk and he looks busy.
“I was in a meeting in this office when I got the call. The first thing I did was to call one of my brothers, to mandate him to take charge. In crisis management, the first thing you do is get somebody to take charge,” he says.
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