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Africapitalism is the economic philosophy that the African private sector has the power to transform the continent through long-term investments, creating both economic prosperity and social wealth.[1][2][3][4][5][6][7] A think tank tasked with studying the philosophy, the Africapitalism Institute, was formally launched during the 2014 World Economic Forum on Africa in Abuja, Nigeria in May of that year.
Nigerian philanthropist, private investor and former banker Tony O. Elumelu first iterated the term in 2011, which has been linked to concepts including "inclusive capitalism", "impact investing," "conscious capitalism" and "philanthro-capitalism.".[8] However, the neo-capitalism philosophy most closely associated with Africapitalism is the theory of "creating shared value"[9] — a concept defined in a Harvard Business Review article titled "Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society",[10] written by economist, Professor Michael E. Porter and Mark R. Kramer of the John F. Kennedy School of Government at Harvard University. The central premise behind creating shared value is that the competitiveness of a company and the health of the communities around it are mutually dependent.
^Nurse, Earl; Dougherty, Jill (12 November 2013). "Tony Elumelu: The 'Africapitalist' who wants to power Africa". CNN. Retrieved 2 January 2015.
^Amaeshi, Kenneth (2 October 2013). "Africapitalism: Unleashing the power of emotions for Africa's Development?". African Arguments. Retrieved 2 January 2015.
^"What Is Africapitalism?". Bloomberg TV Street Smart. 4 June 2014. Retrieved 2 January 2015.
^Ogboukiri, Paul (12 October 2014). "Tony Elumelu: The Africapitalism champion". The New Telegraph. Retrieved 2 January 2015.
^Chonghaile, Clár Ní (26 December 2014). "$100m fund aims to kickstart next generation of African businesses". The Guardian. Retrieved 2 January 2015.
^Stern, Gabriella (8 May 2014). "'Africapitalist' Says It's Time for Private Sector to Step Up". The Wall Street Journal Frontiers. Retrieved 2 January 2015.
^Court, Alex (5 December 2014). "Nigerian billionaire pledges $100 million to help grow 10,000 African startups". CNN. Retrieved 2 January 2015.
^Hirsch, Afua (26 June 2013). "'Africapitalism' promises new model of African self-empowerment". The Guardian. Retrieved 2 January 2015.
^"With Africapitalism Institute, What's next for Africanstart-ups, SMEs?". Nigerian Tribune. Archived from the original on 2015-04-16. Retrieved 2015-04-09.
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