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Despite increased interests in marketisation of philanthrocapitalism research worldwide, the arguments emphasise 'what' instead of 'how' and 'why' philanthropic philosophy happens across Africa. To address this gap, 51 Tony Elumelu Foundation participants' narratives are focused on to draw on an Africapitalism framework highlighting chasms within and between western neoliberalism frameworks and philanthrocapitalism's marketisation. By framing this paper using philanthrocapitalism discourse, the authors critically examined the activities of African philanthropists and the effects of their neoliberal adoption on recipients. Semi-structured interview analysis produced three key ideologies demonstrating 'what', 'how' and 'why' philanthrocapitalism is marketised, namely, utopianism and the illusion of a better socioeconomic tomorrow; neoliberalism and a culture of dominance; social investment and marketisation of benevolence. These thematic paradoxes were used to create an additional four-aspect Africapitalism framework contributing to 'what', 'how' and 'why' philanthrocapitalism is marketised in Africa, its impacts, challenges and solutions. Contributions, limitations and implications for research are articulated.

Introduction -- Africapitalism : a management idea for business in Africa? -- Business elites to the rescue! Reframing capitalism and constructing an expert identity : implications for Africapitalism -- Africapitalism and corporate governance -- Rethinking human capital development in Africa : towards an Africapitalism perspective -- Africapitalism and corporate branding -- Who is an Africapitalist? reimagining private sector leadership in Africa -- Social entrepreneurship and Africapitalism - exploring the connections -- Foreign investors and Africapitalism : the case for Chinese foreign direct investment in Africa -- Good African coffee : adding value and driving community development in Uganda -- Reflections on Africapitalism and management education in Africa