Group Managing Director, Nigerian Exchange Group (NGX Group) Plc, Mr. Oscar Onyema, has called for more investments in Africa’s marketplace.
He made this known at the African Risk and Compliance Summit in London.
Onyema noted that Africa’s potential as a market for businesses is underestimated while access to capital is critical to unleashing investments in Africa.
“Its fast-growing population, competitive markets, and urbanisation expected to drive over 50 per cent of Africans to cities by 2050 present important opportunities and prospects for investors and businesses. Africa has experienced and will continue to experience rapid growth as a result of these developments, and indeed has seen positive investments in recent years,” he added.
Citing the development efforts of African nations, he claimed that most of the continent’s nations have been making progress in recent years, with initiatives being taken to carry out policies aimed at industrialization, universal health care, food security, and affordable housing, as well as improved energy, telecommunications, and financial sectors.
However, Onyema contended that the tightening of the global monetary policy and the mounting geopolitical tension were becoming implacable.
Agriculture, real estate, technology, and natural resources were mentioned by Onyema as contributing elements to the expansion of the African market. With regard to its potential, Africa has evolved over the past 20 years into a choice for investors in emerging and frontier markets.
He further noted that the continent has huge natural resources, a young and an proliferating educated workforce, greater political stability, and better linkage to the global economic framework and would need to do more in reaching a golden age of investments.
