The Chairman of United Bank for Africa , Tony Elumelu, has stated that a properly run capital market can democratise wealth and sustain growth, noting that wealth creation should follow the concept of Africapitalism.
He added that the digital age presents a unique opportunity to improve collaboration through focused strategies. He also revealed that often times the foundations built at the early stages of a business determine the trajectory of that company adding, “This is a message to all entrepreneurs, ensure you get your corporate governance right; it is most important to address these issues when you are small as opposed to when you are a larger organization.”
He stated that there is need to ensure that the cultural linkages that connect Africa and the diaspora are strengthened not weakened. “Today through partnerships with global development organisations such as the United Nations Development Programme , the International Committee of the Red Cross , the European Union, the Organisation of African, Caribbean and Pacific States , and the African Development Bank, we have been able to increase the number of young entrepreneurs we support across the continent.