Private sector urged to lead the charge for sustainable economic dev’t

Ifeyinwa Ugochukwu is CEO for Tony Elumelu Foundation

Assertions that private sector will take over govt not true, Ugochukwu

Africa must prioritize entrepreneurship, CEO

We must create a job-creating youth, Ugochukwu

Chief Executive of The Tony Elumelu Foundation, Ifeyinwa Ugochukwu has urged players in the private sector to lead the charge to effect the changes needed for sustainable economic development.

According to her, the private sector has the capabilities of “leading the charge for sustainable and economic development.”

Speaking in an interview on JoyNews Ugochukwu noted that even though Africa has made headway in entrepreneurship, the continent can do more.

“We know that the African Private Sector is stepping up to the plate… but to lead the charge, it means prioritizing entrepreneurship, it means with our youth, we must create a job-creating mentality and not a job seeking one. It means long-term investment with capital that is not looking for immediate returns but looking to invest for a generation to come,” she highlighted.

She however noted that the private sector needs support from government to thrive, dismissing assertions that the private sector will take over government’s role when it blooms.
“It is a partnership because the private sector cannot do it alone but the private sector needs to take the lead because the government’s job is not to create a job, government job is not to generate revenue, government’s job is to create security and an environment. And once the enabling environment is there, the private sector will do the rest.”