Afropolitan How One Contrarian Bet On MTN Created Generational Wealth And Transformed Africa’s Telecom Industry
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Aug 27, 2025 Okechukwu Okey Enelamah, the Founder of African Capital Alliance and former Nigerian Minister of Industry, Trade and Investment, shares his remarkable journey from war-torn Nigeria to global finance. He discusses his contrarian investment strategy that transformed Africa’s telecom sector, particularly his groundbreaking deal with MTN. Enelamah emphasizes the importance of mentorship, the role of private equity in Africa's growth, and the exciting future potential in digital infrastructure and AI. His insights on ethical navigating and collaboration for economic development are equally compelling.
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Africa As A Contrarian Opportunity
- Africa was an under-discovered market with the same upside Asia experienced if given capital and private-sector participation.
- Okechukwu Enelamah returned from Harvard to intentionally build finance and private capital infrastructure in Africa to capture that upside.
How MTN Became A Generational Win
- African Capital Alliance partnered with MTN and local investors to bid for telecom licenses and provided institutional and advisory support.
- The deal capital structure and deregulation produced roughly a 44x return, turning telecom into a generational wealth example.
ABC Transport: Governance Led The Turnaround
- ACA backed ABC Transport by strengthening governance and signing clear shareholder agreements with founder Frank Neji.
- The company improved operations, listed publicly, and returned roughly 3x over a three-to-four-year period.
