The International Monetary Fund (IMF) has named Nigerian entrepreneur and philanthropist Tony Elumelu to its newly established Advisory Council on Entrepreneurship and Growth.The appointment was announced in an official statement released on Friday.Convened by IMF Managing Director Kristalina Georgieva, the council brings together global business leaders, policymakers, and academics to provide insights on how macroeconomic and financial policies can foster entrepreneurship, innovation, and productivity.“At its core, the Council unites top minds in business, finance, academia, and policymaking to explore how macroeconomic and financial strategies can create an environment conducive to innovation, entrepreneurship, and sustainable growth—critical elements for a thriving private sector and strong economic development,” Georgieva stated during the Council’s inaugural meeting on March 26.Elumelu, the Founder and Group Chairman of Heirs Holdings and Chairman of Transcorp Group and United Bank for Africa (UBA), is widely recognized for championing entrepreneurship as a driver of economic transformation in Africa.Through the Tony Elumelu Foundation, launched in 2015, he has funded, trained, and mentored over 25,000 young African entrepreneurs across 54 countries, advancing his “Africapitalism” philosophy—a belief that Africa’s private sector must take a leading role in the continent’s development by making long-term investments that generate both economic and social impact.The IMF noted that the council will work to identify and address regulatory barriers hindering entrepreneurial activity, particularly in emerging markets. It will also propose policy recommendations to improve resource allocation, stimulate private investment, and drive inclusive economic growth.Other notable members of the advisory council include Ufuk Akcigit, Harberger Professor of Economics at the University of Chicago; HRH Reema Bandar Al-Saud, Saudi Ambassador to the United States; Marc Benioff, Chair, CEO, and Co-Founder of Salesforce; Ana Botín, Executive Chair of Banco Santander; Natarajan Chandrasekaran, Chairman of Tata Group; Margherita Della Valle, Chief Executive of Vodafone Group; Robert Smith, Founder and CEO of Vista Equity Partners; and Federico Sturzenegger, Argentine Minister of Deregulation and State Transformation.Elumelu’s appointment comes at a time of increased collaboration between the IMF and African economies, reflecting a broader effort to strengthen economic resilience and foster sustainable development on the continent.—