African businessman and philanthropist, Tony O. Elumelu has proposed a new entrepreneur-led development model for Africa at two high profile events in Washington DC.

Mr. Elumelu, who is Chairman of United Bank for Africa, and Founder, the Tony Elumelu Foundation, spoke at a White House event hosted by United States President Barack Obama on May 11 to celebrate emerging entrepreneurs around the globe. The event was a prelude to Obama’s scheduled trip to Kenya this summer for the Global Entrepreneurship Summit.