Business Briefs
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OKECHUKWU Enelamah, minister of industry, trade and investment, has said that private capital is vital to the federal government’s quest to enhance the country’s business environment to boost economic growth. He spoke in Lagos at a forum organised by Actis, an investment company.
“I want Nigeria to be the number one market. Nigeria presents diverse investment opportunities in areas that will not only support the local economy but also deliver significant yields to foreign investors like Actis. Private capital has an important role to play in our medium to long-term focus on re-building an enabling business environment. We as a government, and I in particular, accept responsibility for our policies and for ensuring implementation. Therefore, we can be held accountable,” the minister said.
The event was attended by more than 200 senior public and private sector decision makers. In a statement on Wednesday, November 2, Actis was quoted to have shared its perspectives on the Africa’s opportunity and potential for Nigeria.
The discussion focused on the role of private capital in developing the local economy and the investment opportunities available in the country as well as the government’s commitment towards economic diversification. Apart from Enelamah, other discussants at the forum are: Natalie Kolbe, global head, Private Equity, Actis; director, Funke Okubadejo, Real Estate, Actis West Africa; and Tony Abakisi, investment principal, Actis.
At the forum, Kolbe said, “Actis has been investing in Nigeria for around seven decades and we are here for the long term. We have recently committed a significant amount of capital across our asset classes from malls and office space to financial services and power generation.
“We are realistic about the current macroeconomic environment but we have invested through the cycles before. That experience makes us pragmatic in our approach. We remain extremely optimistic and excited about the potential here in Nigeria.”
Actis has a growing portfolio of investments across Asia, Africa and Latin America and $6.3 billion assets under management.
— Nov 14, 2016 @ 01:00 GMT
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