Tony Elumelu, Chairman of Heirs Holdings, has urged African leaders to place food security at the heart of national development by making rural economies more attractive and productive.
Speaking in Rome at the 49th Governing Council of the International Fund for Agricultural Development, Elumelu stressed that no society can achieve meaningful progress without guaranteeing access to food.
According to him, strengthening agriculture and rural enterprise requires closer cooperation between governments and private investors across the continent.
He maintained that transforming rural communities would demand deliberate efforts to make agriculture appealing to young people.
While many youths show interest in agribusiness, he said they need stronger institutional backing, improved infrastructure and access to finance to succeed.
He called for joint action to reposition farming as a modern and rewarding career path.
Elumelu identified three key drivers of change: reliable electricity, innovative financing structures and practical business education.
He explained that energy access remains central to economic advancement, noting that limited power supply continues to restrict the use of digital tools and modern technology in food production.
Without stable electricity, he said, conversations about artificial intelligence and digital innovation in agriculture remain incomplete.
He also advocated financing models that blend philanthropic support with commercial investment, enabling small businesses to scale without facing prohibitive collateral demands.
In his view, easing regulatory pressures and reforming lending practices would unlock growth for small and medium enterprises, which are responsible for the bulk of job creation across Africa.
Highlighting the impact of the Tony Elumelu Foundation, he revealed that more than one fifth of the 24,000 entrepreneurs supported by the foundation operate in agribusiness. Women account for over half of these ventures. Collectively, beneficiaries of the programme have created hundreds of thousands of jobs across the continent.
Elumelu said empowering women entrepreneurs strengthens entire communities and accelerates national progress.
He reiterated that collaboration between public institutions and the private sector remains essential for sustainable agricultural transformation and long term food security in Africa.
