Some of Africa’s most prominent business leaders are joining efforts to accelerate West African economic integration, with Sierra Leone President Julius Maada Bio and Heirs Holdings Chairman Tony O. Elumelu calling for increased private investment to turn regional ambitions into economic results.
The appeal was made during a meeting of the West Africa Integration and Investment Summit (WAIIS) Private Sector Advisory Board in Lagos, where business executives and financial institution leaders discussed ways to expand investment and strengthen regional economic cooperation.
Elumelu hosted the meeting ahead of the inaugural WAIIS summit, which Bio is championing to bring together governments, investors and businesses around a shared development agenda.
The advisory board includes Dangote Group President and Chief Executive Aliko Dangote, FA Limited Executive Vice Chairman Apostle Folorunso Alakija, Petrolin Group Founding Chairman Samuel Dossou-Aworet, Afreximbank President George Elombi and BUA Group Chairman Abdul Samad Rabiu.
Other members include Oando Group Chief Executive Wale Tinubu, Africa Finance Corporation President Samaila Zubairu, Africa50 Chief Executive Alain Ebobissé, Central Bank of West African States Governor Jean-Claude Kassi Brou, Orango Investment Corporation Chairman Paulo Gomes, Africa Trading Minerals Chairman Benedict Okey Oramah and Teyliom Group Chairman Habib Yérim Sow.
President Bio, the immediate past Chair of the ECOWAS Authority of Heads of State and Government, told the group that West Africa must focus on implementation if it is to benefit from its population, natural resources and entrepreneurial strength.
“We are partners in execution, let us transform ideas into partnerships, partnerships into investments, and investments into lasting prosperity for our continent,” Bio said.
He said the region’s market of more than 400 million people offered significant opportunities for businesses willing to invest in productive enterprises, competitive industries and regional value chains.
“But potential is not prosperity. Our task is to convert these advantages into productive enterprises, competitive industries, regional value chains, jobs and wealth,” he added.
Elumelu said the private sector must take a more active role in building businesses that operate across national borders and compete at scale.
He reaffirmed his commitment to mobilising investment from African and international sources, with support from financial institutions including the Africa Finance Corporation, Afreximbank, United Bank for Africa and Ecobank.
His approach is informed by Africapitalism, a philosophy that places private sector investment in strategic sectors at the centre of Africa’s economic transformation.
Elumelu also called for governments to provide predictable policies, efficient regulation and security to give investors the confidence to commit capital for the long term.
“This is consistent with our aspirations to create jobs for our young people,” he said. “We have all it takes to be prosperous.”
Lagos State Governor Babajide Sanwo-Olu called for stronger industrialisation and the free movement of goods and services, stressing that governments must establish the conditions needed for businesses to invest, produce and trade across the region.
The advisory board’s work is organised around four priorities: energy trade and industrialisation, strategic minerals, agribusiness and digital transformation.
With the summit scheduled for November 17–18, 2026, Bio has challenged members to move beyond advocacy by engaging investors directly, identifying bankable projects and determining the financing and policy measures needed to bring investments to fruition.
WAIIS will be held at the Julius Maada Bio International Conference Centre in Lungi, Sierra Leone, where heads of state, investors and business leaders are expected to explore practical ways of increasing investment and strengthening cross-border economic ties.
The initiative seeks to align the influence and resources of major African businesses with regional development priorities, creating a platform for investments that can expand industrial capacity, deepen trade and generate employment across West Africa.
