Nigerian businessman and philanthropist Tony Elumelu said African countries should drop a "victim mentality" to attract more foreign investment [1].
This perspective challenges long-standing political narratives regarding colonial history. By prioritizing current economic growth over historical grievances, Elumelu said the continent can unlock the massive private global capital necessary for large-scale development [1], [3].
Elumelu made these remarks this week on the sidelines of the Africa Forward summit [1], [2]. The event was co-hosted by France and Kenya [2]. During the summit, he said African nations should let the past be and welcome all foreign investors regardless of their origin [1].
He said the pursuit of economic prosperity requires a shift in mindset. According to Elumelu, focusing on the traumas of the colonial era can act as a barrier to the financial partnerships needed for modernization [1], [3]. He said the continent must move beyond these perceptions to create an environment that is welcoming to global capital [1].
Elumelu also said he supports a vision shared by French President Emmanuel Macron to unlock global investment across the continent [2]. This alignment suggests a push for stronger ties between European capital and African markets to drive infrastructure, and industrial growth [2].
Throughout the summit, the discussion centered on how to move Africa forward through strategic partnerships. Elumelu said the arrival of private global capital is essential for the continent's economic trajectory [1], [3]. He said the priority should be the future of African economic stability rather than the rectification of historical wrongs through the avoidance of foreign partnerships [1].
“African countries should drop a "victim mentality" to attract more foreign investment”
Elumelu's call for a shift in mindset reflects a growing tension between 'decolonization' movements and the pragmatic requirements of global capitalism. By advocating for the removal of historical barriers to investment, he is positioning Africa as a pragmatic market that prioritizes rapid infrastructure and economic scaling over the political resolution of colonial legacies.
