Billionaire businessman and Chairman of Heirs Holdings, Tony Elumelu, has shared insights into the humble beginnings of his professional journey, revealing that he originally secured his very first career role without possessing the required qualifications.
The billionaire businessman disclosed this in a post on his social media handle, on Saturday.
Elumelu, who said he was lucky to have had someone take a chance on him, maintained that luck should not be the only way Africans get a chance.
“I started my career in a job I wasn’t qualified for. Someone took a chance on me. Everything I have built since has been to repay it. I was lucky. But luck should not be the only way an African talent gets a chance.”
The businessman also highlighted Africa’s position in the global artificial intelligence race, saying the continent accounts for less than one per cent of the world’s AI computing capacity and about three per cent of its AI talent.
“The constraint is not talent. It is electricity. We leapfrogged landlines with mobile. We will not leapfrog electricity,” Elumelu said.
He said African countries must urgently address their electricity challenges to avoid missing opportunities presented by the digital economy.
According to him, the continent’s AI race is also a race to secure adequate electricity generation and computing capacity.
“My closing advice: To the youth in the room: start before you are qualified. I did,” he said.
He also called on investors and partners to support the growth of young African businesses, citing the Tony Elumelu Foundation’s seed-capital programme.
“Tony Elumelu Foundation seed capital has proved that young African entrepreneurs are investible. Now co-invest with us to take them to scale,” he said.
What You Should Know
Billionaire investor Tony Elumelu is sharing his personal journey of how someone took a chance on him to start a career he wasn’t initially qualified for, while urging the continent to create systematic opportunities rather than relying on luck. He also pointed out that Africa’s biggest bottleneck in the global artificial intelligence and digital race is a lack of reliable electricity, not a lack of talent.
- Positive Impact: Encourages young Africans to be bold, start before they feel fully qualified, and highlights ongoing efforts by foundations like his to provide seed capital for entrepreneurs.
- Potential Concerns: Africa’s severe power deficits could cause the continent to lag behind the rest of the world in the booming global digital and artificial intelligence economy.
