The Chief Executive Officer, Nigerian Exchange Group Plc, Mr. Oscar N. Onyema has called for more investments in Africa’s marketplace as it’s growth market for businesses is highly underestimated.
Onyema made this call while delivering a speech at the African Risk and Compliance Summit held in London.
Speaking at the summit, 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 Africa.
“Its fast-growing population, competitive markets, and urbanization 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.
While citing efforts made by African countries in the area of development, he said most African countries have been on a path of development over the past few years, with efforts being made to implement plans focused on industrialization, universal health coverage, food security and affordable housing, as well as improved education, energy, telecommunications, and financial sectors. Onyema however argued that the current tightening round in global monetary policy and geopolitical stress is becoming unyielding.
