The Tony Elumelu Foundation\u2019s Africapitalism Institute and Durham
\nUniversity Business School, one of the oldest universities in the United
\nKingdom, co-hosted a day-long academic symposium on the economic
\nphilosophy called \u201cAfricapitalism\u201d at the Foundation\u2019s headquarters in
\nLagos.<\/p>\n
Africapitalism \u2013 the belief that the private sector must play a leading
\nrole in Africa\u2019s development \u2013 is the economic philosophy first developed
\nby Tony O. Elumelu, CON, back in 2010, and has been heavily influenced by
\nhis long career as a banker, investor, entrepreneur and philanthropist.
\nThe primary goals of Mr. Elumelu\u2019s Africapitalism mission are to promote
\npublic policies that facilitate private sector growth, to educate
\nestablished businesses about how Africapitalist business practices can
\nenhance both profits and prosperity, and to address the specific needs of
\nAfrica\u2019s emerging entrepreneurs as the best source of new and inclusive
\nlocal value creation.<\/p>\n
\u201cThe purpose of today\u2019s discussion is to explore the key issues
\ninfluencing Africapitalism as an economic philosophy from the perspective
\nand scrutiny of academia,\u201d said David Rice, Director of the Africapitalism
\nInstitute at the Tony Elumelu Foundation.\u00a0 \u201cYears ago, Mr. Elumelu
\ndeveloped this philosophy from the perspective of a practitioner and his
\nrole as a banker, businessman, investor, and entrepreneur.\u00a0 Now his
\nFoundation is supporting the rigorous, independent analysis of
\nAfricapitalism\u2019s merits.\u201d<\/p>\n
Several distinguished faculty members from Durham University made
\npresentations to a diverse audience that included scholars, students,
\nbusiness people and investors.\u00a0 Participating faculty members included
\nProfessor Geoff Moore, Chair of Business Ethics and Deputy Dean; Professor
\nMehmet Asutay, an expert in Islamic Finance; senior lecturer Dr. Emmanuel
\nAdegbite, who spoke about Africapitalism and corporate governance; and
\nMark Learnmonth, Professor of Organizational Studies.\u00a0 The day\u2019s agenda
\nwas driven by Dr. Adegbite, who is a member of the Africapitalism Research
\nProject team led by Professor Kenneth Amaeshi, who has appointments at
\nEdinburgh University in Scotland and at Lagos Business School.<\/p>\n
\u201cAfricapitalism is in the early stages of development with respect to
\nacademia,\u201d said Dr. Emmanuel Adegbite of Durham University.\u00a0 \u201cBut we see
\nthe transformative potential of this initiative and by applying our
\nrigorous standards of analysis, our intent is strengthen the concept by
\nputting it through its paces, just as we\u2019ve done here today.\u201d<\/p>\n
The symposium is just the latest formal critique of Africapitalism from
\nglobal academia.\u00a0 In June 2015, the first article on Africapitalism was
\npublished in a refereed, peer-reviewed academic journal, and in August the
\nAcademy of International Business will further explore Africapitalism\u2019s
\nmerits during their annual conference for scholars in South Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Tony Elumelu Foundation\u2019s Africapitalism Institute and Durham University Business School, one of the oldest universities in the United Kingdom, co-hosted a day-long academic symposium on the economic philosophy called…<\/p>\n","protected":false},"author":1,"featured_media":40638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-40637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\n