Businessman and Chairman of Heirs Holdings, Tony Elumelu, has called on corporate leaders across Africa to increase women’s representation in executive and board-level positions, stressing that gender inclusion is essential to economic growth and business competitiveness.
Elumelu made the call while delivering the keynote address at the 25th annual conference of the Women in Management, Business and Public Service (WIMBIZ) in Lagos, where he highlighted the growing number of women occupying leadership positions across the Heirs Holdings Group.
Speaking on the conference theme, ‘Rooted, Rising, Ready: Born in Africa, Built for the World,’ he challenged business leaders to move beyond conversations about gender equality by providing women with greater access to leadership positions, capital and business opportunities.
He said women’s participation in economic leadership should not be viewed as an act of fairness but as a necessity for competitiveness, noting that Africa could not achieve sustainable growth while underutilising half of its talent.
Elumelu showcased the contributions of women leading various businesses within the Heirs Holdings Group, including his wife, Dr Awele Elumelu, who chairs several businesses spanning healthcare, insurance, hospitality and energy, and co-founded the Tony Elumelu Foundation.
Other women highlighted include Dr Fumbi Chima, Chair of Heirs Technologies; Agatha Obiekwugo, Chair of Afriland Properties Plc; Foluke K. Abdulrazaq, Vice Chair of Transnational Corporation Plc; Owen Omogiafo, President and Group Chief Executive Officer of Transcorp; and Uzo Oshogwe, Managing Director of Transcorp Hotels Plc.
He also recognised Somachi Chris-Asoluka, Chief Executive Officer of the Tony Elumelu Foundation; Catherine Nwosu, Managing Director of Africa Prudential Plc; Dr Odiri Ogini, Managing Director of United Capital Asset Management; and Esther Adeola Balogun, Managing Director of UCEE Microfinance Bank, among other female executives.
According to him, the appointments demonstrate the importance of recognising merit, developing talent and creating opportunities for women to assume leadership responsibilities across different sectors.
Elumelu said the Tony Elumelu Foundation had also supported women’s economic participation through its entrepreneurship programme, which has deployed more than $120 million in seed capital to 24,633 entrepreneurs across all 54 African countries over 15 years.
He noted that women accounted for 48 per cent of the programme’s beneficiaries, while the supported entrepreneurs had collectively created more than 1.5 million jobs and generated over $4.2 billion in revenue.
The businessman linked the foundation’s interventions to his philosophy of Africapitalism, which advocates private-sector-led development through investments that generate both economic prosperity and social impact.
He urged corporate leaders to examine their organisational structures and address barriers preventing qualified women from advancing into leadership positions, while encouraging young African women to pursue leadership and entrepreneurial opportunities without waiting for permission.
Elumelu also called on WIMBIZ and the wider business community to sustain efforts towards women’s economic advancement, stressing that increased access to capital would be critical to moving women from participation to decision-making positions.
