Freetown, 19th October 2026 – Sierra Leone’s President, Julius Maada Bio, and Nigerian billionaire Tony Elumelu are spearheading an ambitious effort to mobilise up to $15 billion in private-sector investment for strategic projects across West Africa, aimed at accelerating regional integration and addressing critical infrastructure deficits.
The initiative is being advanced through the West Africa Integration and Investment Summit (WAIIS), which is set to hold its inaugural gathering in Sierra Leone this November. The summit seeks to connect governments, investors, development finance institutions and private-sector lenders with bankable projects capable of driving economic growth across the region.
Ahead of the summit, President Bio met with Elumelu in Lagos, where the Nigerian business leader convened the first in-person meeting of WAIIS’s Private Sector Advisory Board. The meeting brought together leading figures from the business and financial sectors to identify viable investment opportunities and strengthen partnerships for project financing.
Discussions focused on key sectors considered critical to West Africa’s economic transformation, including energy, trade and industrialisation, strategic minerals, agribusiness and digital technology.
Elumelu, who chairs Heirs Holdings and serves as WAIIS co-chair, reaffirmed his commitment to attracting both African and international capital to the region. He said the initiative is working closely with major financial institutions, including the Africa Finance Corporation, Afreximbank, United Bank for Africa (UBA) and Ecobank, to support financing for priority projects.
The emerging project pipeline already spans more than ten West African countries and has moved beyond the proposal stage. Organisers have begun narrowing submissions to projects deemed investment-ready and suitable for discussions with financiers.
According to WAIIS Special Envoy Dr Kandeh Kolleh Yumkella, the summit received 170 project submissions, from which 26 projects valued at more than $10 billion have been selected for further consideration.
“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.
He expressed confidence that the value of the investment portfolio will continue to grow ahead of the November summit.
“We expect that portfolio to reach $15 billion or more,” he added.
The initiative comes at a time when many West African economies continue to grapple with inadequate infrastructure, limited industrial capacity and barriers to cross-border trade. Mobilising long-term financing for large-scale development projects remains one of the region’s biggest challenges, particularly where coordination is required among governments, development finance institutions and private investors.
Elumelu credited President Bio with initiating and convening the summit as part of a broader effort to accelerate capital mobilisation for priority development projects across the region.
The November gathering is expected to bring together project sponsors and potential financiers to assess investment opportunities, negotiate partnerships and advance funding discussions.
If successful, the initiative could establish a new model for transforming regional development priorities into bankable investments, while directing billions of dollars towards infrastructure and productive sectors capable of boosting growth, trade and job creation across West Africa.
