Tony Elumelu, chairman of Heirs Holdings and co-chair of the West Africa Integration and Investment Summit (WAIIS), is backing a proposed $15 billion investment pipeline aimed at addressing West Africa’s infrastructure deficit and accelerating regional economic development.
The initiative involves identifying viable projects across the region and presenting them to potential financiers ahead of the summit’s inaugural meeting in Sierra Leone in November.
The proposed investments will focus on energy, trade and industrialisation, strategic minerals, agribusiness and digital transformation, sectors considered critical to strengthening regional connectivity and economic growth.
Kandeh Kolleh Yumkella, special envoy for WAIIS, said organisers had received 170 project submissions and selected 26 projects worth more than $10 billion from over 10 countries.
“We received 170 project submissions and have selected 26 real projects worth more than $10 billion from over ten countries,” Yumkella said in a statement issued by the summit organisers.
“We expect that portfolio to reach $15 billion or more,” he added.
Potential financiers expected to review the projects include United Bank for Africa (UBA), African Export-Import Bank (Afreximbank), Africa Finance Corporation (AFC) and Africa50.
The initiative comes as West African economies face persistent infrastructure gaps that constrain energy supply, cross-border trade, industrial development and economic integration.
By bringing together project developers, governments and financial institutions, the initiative seeks to mobilise private capital for projects capable of supporting regional development and expanding productive capacity.
However, the $15 billion target represents the anticipated value of the project pipeline rather than confirmed financing or funds already deployed.
