Founder and Group Chair of Heirs Holdings, Tony Elumelu, has been appointed by the International Monetary Fund (IMF) to its Advisory Council on Entrepreneurship and Growth, which is chaired by IMF Managing Director, Kristalina Georgieva.

Other notable members of the Council include Professor Ufuk Akcigit, Harberger Professor of Economics at the University of Chicago; HRH Ambassador Reema Bandar Al-Saud, Saudi Ambassador to the United States; and Mr. Marc Benioff, Chair/CEO and Co-Founder of Salesforce.

Additional notable figures include Ms. Ana Botín, Executive Chair of Banco Santander; Mr. Natarajan Chandrasekaran, Chairman of Tata Group; Ms. Margherita Della Valle, Chief Executive of Vodafone Group; Mr. Robert Smith, Founder, Chairman, and CEO of Vista Equity Partners; and Mr. Federico Sturzenegger, Argentine Minister of Deregulation and State Transformation.

Kristalina Georgieva, the IMF Managing Director, stated at the Advisory Council’s inaugural meeting on Wednesday, March 26, 2025, that the perspectives and experiences of the chosen individuals will influence the extent to which macroeconomic and financial policies can foster an environment that is conducive to productivity, entrepreneurship, and innovation.

Georgieva stated that the Council convenes a group of prominent scholars and practitioners in finance, business, academia, and policymaking to exchange perspectives and experiences on how macroeconomic and financial policies can foster a supportive environment for innovation, entrepreneurship, and productivity which are the essential components of a robust economic growth and thriving private sector.

According to the statement, the Advisory Council is composed of global business leaders, policymakers, and academics who are committed to the identification and resolution of regulatory obstacles to entrepreneurship.

It stated that its mandate is to suggest policies that promote sustainable private sector-led economic growth, stimulate innovation, and enhance resource allocation.