The Chairman of the United Bank for Africa, Tony Elumelu has stated that Africa’s youthful energy is a goldmine for investment, innovation, and economic growth, noting that the continent has an unstoppable demographic advantage.

Elumelu, according to a post on his X handle on Tuesday, stated this at the World Government Summit questioning the “skewed” perception of risk towards Africa, revealing that he has a “diversified portfolio across 4 continents.”

“This youthful energy is a goldmine for investment, innovation, and economic growth. Investing in a continent with a median age of 19 where 65 percent of its 1.5 billion population are under 30, will yield greater returns as “we have an unstoppable demographic advantage,’ he said.

According to him, the different challenges confronting the African continent present opportunities for investors as “nowhere else offers the kind of Return on Investment that Africa does.”

“Every challenge in Africa—whether it’s infrastructure deficit, energy insufficiency, or transportation inadequacy—is an investment opportunity,” Elumelu who doubles as the chair of Heirs Holdings and Transcorp said.
“The key is identifying these gaps and structuring your approach to mitigate the risks. That’s where the competitive edge lies,” he added.
https://punchng.com/africas-youthful-population-goldmine-for-investment-economic-growth-elumelu/