Banking Briefs
UZOMA Dozie, chief executive officer, Diamond Bank Plc, has urged European entrepreneurs and investors to step-up their investment stakes in Africa. He noted that the fundamentals for sustainable growth and development in the continent have remained positive.
Addressing investors, captains of industry, corporations, Leaders of thought opinion and policy makers in the UK, during the presentation of the ‘Companies to Inspire Africa 2017 Report’ by the London Stock Exchange Group, Dozie said returns on investment in Africa is strong, pointing out that many companies in the continent are as profitable as their peers in other parts of the world.
According to him, the continent was dotted with huge number of start-ups and micro, small and medium scale enterprises, which are structured to catalyse the continent’s economic and industrial growth. He said that the continent’s 1.2 billion people with more than half of the population below 25 years, remains a huge demographic advantage to investors as it presents one of the biggest markets and workforce in the world.
“It is a great pleasure to give this keynote address at this important event. For us at Diamond Bank, we are passionate about Africa and the opportunities. For investors looking for returns either in the short term or long term, Africa remains an investment destination of choice. Despite the recent challenges in some African Economies, the forecast is that Africa will still grow more rapidly than the OECD countries. The outlook is positive and this is the time to explore the opportunities that exist in Africa,” he said.
Dozie stated that although, the risk elements may be high investing in Africa but the returns neutralises the challenges. “Yes, there are risks associated with investing in Africa but then business is all about taking risks and striking the right balance between risk and returns. Yes, there are challenges with investing in Africa; infrastructure is still relatively poor to support businesses, power supply is epileptic, there is political instability and security challenges, but with over 50 countries, over 1.2 billion people with more than half of this huge population under 25 years, the opportunities are enormous and more than compensate for the investment risk.”
- Apr 24, 2017 @ 01:00 GMT
Tags:
