There is nowhere else in the world where you can reap from the kind of investments that Africa offers, where ambition can be realised and lives can be changed.
However, I am acutely aware of the fundamental issues our continent faces. With over 60% of Africans lacking access to electricity, gender inequality persisting, and our youth – largely unemployed or underemployed and talent wasted – making up more than 60% of the continent’s population, Africa faces significant challenges. They are challenges of a global scale and require a global audience.
We must urgently seek innovative solutions to tackle these challenges, and our advocacy plays a key role in driving the transformation we must achieve.
Next week will be busy!
I am convening and joining global leaders in a series of high-profile meetings at this year’s United Nations General Assembly (UNGA), in New York.
UNGA provides a platform to address these issues, forge new partnerships, and advance the Sustainable Development Goals (SDGs).
In previous editions of UNGA, we have launched partnerships, such as the BEGREEN initiative, with UNICEF Generation Unlimited, the IKEA Foundation, the Dutch Government, and the Tony Elumelu Foundation; with the UN Capital Development Fund (UNCDF), the U.S. Agency for International Development (USAID), and more.
UNGA also presents an opportunity to draw attention to urgent areas of intervention, as well as proffer innovative solutions for transformation, drawing from my experience as a business leader and philanthropist.
My itinerary gives me the opportunity to speak to multiple audiences – I have highlighted a few of them below:
1. UBA Networking Gala in New York: We will host a Networking Gala on the sidelines of UNGA – a platform to spotlight investment opportunities on the continent, bring Africans and those interested in Africa, together. It positions UBA as the indispensable financial intermediary between Africa and the world. The Gala will convene prominent leaders from across four continents, in commemoration of UBA Group’s 75th anniversary and the Bank’s 40 years of operations in the United States.
2. Clinton Global Initiative: I will participate in a round table discussion at the Clinton Global Initiative, with former President of the United States, Bill Clinton and a select group of global leaders.
3. TEF-World Food Programme High-Level Session: I will join the Executive Director of the World Food Programme, Cindy McCain, in an exclusive event co-hosted by The World Food Programme and The Tony Elumelu Foundation.
My key messages for UNGA are:
1. Entrepreneurship as a catalyst for African transformation
- The Tony Elumelu Foundation is empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and ensuring inclusive economic empowerment.
- TEF has empowered 20,000 young African entrepreneurs with USD100 million funding, mentorship, and business training, who have gone on to create 400,000 jobs on the continent – we have proven that this model for wealth creation can significantly transform the narrative of Africa.
- TEF demonstrates its commitment to gender inclusion, with the 40% representation of female entrepreneurs in its Entrepreneurship Programme. These exceptional women are creating jobs and wealth for their communities.
2. Africa’s equitable energy transition
Successes in this area include:
Transcorp:
- Transcorp has made significant strides in the power sector, with over $1.5 billion invested since 2013, operating three power generating plants—Transcorp Power Plc, Afam III Fast Power Ltd, and Afam Power Plc—boasting a combined installed capacity of about 2,000MW, which accounts for 15% of Nigeria’s total generating capacity.
- As the only indigenously owned and managed plants in Nigeria, Transcorp generates approximately 10% of the country’s electricity, and supplies around 30% of the Republic of Benin’s electricity through the West African Power Pool.
- Recently, Transcorp has moved further across the value chain, investing in Abuja Electricity Distribution Plc, covering over 130,000 sq/km in Northern Nigeria, while directly employing over 5,000 Nigerians.
Heirs Energies:
- Heirs Energies, our integrated energy company in Nigeria’s Niger Delta, is the sole operator of OML 17.
- It manages an estimated 5% of Nigeria’s oil and domestic gas production, currently producing 45,000 barrels of oil equivalent per day and about 50MMscf/d volume of gas per day.
- Its operations supply gas to key power plants, ensuring energy sufficiency and delivering value across the energy chain.
3. Catalysing an African renaissance – bringing together people, passion and potential
Through our work and philanthropy, we are unleashing the energy and talent of a powerful young generation – an antidote to the ills our people face: insecurity, unemployment, fanaticism, and illegal migration.
We are changing the narrative of Africa and putting Africa on the map.
I am so proud of our achievements at Heirs Holdings. We have become an inspiration and a role model for African businesses building to last.
We need you to play a role in advancing conversations, as we take our message to UNGA. Your voice is an important aspect of our narrative. Engage on platforms you have access to and interact with your company’s content around our activities.
