The Group Managing Director/Chief Executive Officer, Nigerian Exchange Group Plc, Oscar Onyema, has called for more investments in Africa’s marketplace.
Speaking at the African Risk and Compliance Summit held in London on Tuesday, Onyema noted that Africa’s potential as a growth market for businesses is highly underestimated and access to capital is critical to unleashing investments in the continent.
“Its fast-growing population, competitive markets, and urbanization expected to drive over 50% 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 efforts made in the area of development, he said most African countries have been on a path of development over the past few years, and are being made to implement plans focused on industrialization, universal health coverage, food security and affordable housing.
Others are improved education, energy, telecommunications, and financial sectors.
Onyema however argued that the current tightening in global monetary policy and geopolitical stress is becoming unyielding.
Speaking on trending sectors, he highlighted agriculture, real estate, tech and natural resources as factors responsible for growing the African market.
In terms of Africa’s economic potential, Africa has changed over the past 20 years into an interesting option for emerging and frontier market investors.
He further noted that the continent has huge natural resources, a young and increasingly 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.
Its fast-growing population, competitive markets, and urbanization expected to drive over 50% of Africans to cities by 2050, present important opportunities and prospects for investors and businesses.
