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BUSINESS NEWS: Onyema urges investors to embrace Africa market

BUSINESS NEWS: Onyema urges investors to embrace Africa market

Publish date: 2022-07-12 23:12:16 | Author: Nike Popoola | Source:

The Group Managing Director/Chief Executive Officer, Nigerian Exchange Group Plc, Mr Oscar Onyema, has called for more investments in Africa’s marketplace.

A statement said he stated this 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 was highly underestimated and access to capital was critical to unleashing investments in Africa.

He said, “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.”

While citing efforts made by African countries in the area of development, he stated that most African countries have been on a path of development over the past few years, with efforts being made to implement plans focused on industrialisation, universal health coverage, food security and affordable housing, as well as improved education, energy, telecommunications, and financial sectors.

Onyema said the current tightening round in global monetary policy and geopolitical stress was becoming unyielding.

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