Sierra Leone's President Bio and Elumelu Urge West African Businesses to Invest and Create Jobs

The President of Sierra Leone, Julius Maada Bio, and Tony Elumelu, a top African investor and Chairman of Heirs Holdings, have urged West African businesses to move from just talking about regional unity to making it happen. They want support to raise funds, develop strong industries, create jobs, and turn the region's great economic potential into shared wealth.

Mr Elumelu hosted President Bio in Lagos before the first West Africa Integration and Investment Summit (WAIIS). He gathered leaders from the private sector and financial institutions for the first in-person meeting of the WAIIS Private Sector Advisory Board.

The meeting focused on four key areas that can change West Africa's economic future: energy trade and industrialisation, strategic minerals, agribusiness, and digital transformation.

President Bio shared a bold vision for WAIIS to create a regional market of over 400 million people. He wants to get businesses from West Africa and around the world to increase trade, investment, and economic cooperation.

"We are partners in execution. Let us transform ideas into partnerships, partnerships into investments, and investments into lasting prosperity for our continent," Mr Bio told the Advisory Board members.

He added, "But potential is not prosperity. Our task is to convert these advantages into productive enterprises, competitive industries, regional value chains, jobs, and wealth."

Mr Elumelu praised President Bio's plan to put private capital and business at the center of the regional agenda. He confirmed his commitment to attracting African and international investments along with major African financial institutions like the Africa Finance Corporation, Afreximbank, United Bank for Africa (UBA), and Ecobank to support key projects.

This approach aligns with Mr Elumelu's belief in Africapitalism. He thinks the African private sector must play a key role in changing the continent's economy through long-term investments in important sectors.

Mr Elumelu pointed out that African businesses should look beyond their borders. They need to combine funds, skills, and capabilities to create companies and industries that can compete widely while creating jobs and opportunities in the region.

"This is consistent with our aspirations to create jobs for our young people," Mr Elumelu said. "We have all it takes to be prosperous."

But he noted that the ambition of the private sector needs strong action from governments.

"Governments must provide the policy certainty, regulatory efficiency, and security needed to give investors the confidence to commit capital for the long term."

Lagos State Governor, Babajide Sanwo-Olu, highlighted the need for industrialisation and free movement of goods and services to create a truly integrated West African market. He said political leaders must create the right environment, certainty, and assurances for businesses to invest, produce, and trade across borders.

The discussions showed a shared belief that West Africa has the size, resources, talent, and entrepreneurial spirit to become one of the world’s most active economic regions.

With the Summit set for less than two months away, Mr Bio urged members of the Advisory Board to shift from talking to taking action. They should engage potential investors directly, connect them with viable projects, and identify the financing gaps, policy choices, and other steps needed to move deals forward.

WAIIS will happen on 17-18 November 2026 at the Julius Maada Bio International Conference Centre in Lungi, Sierra Leone. It will gather heads of state, investors, and business leaders to boost investment in energy, strategic minerals, agribusiness, and digital transformation.