APA – Lagos (Nigeria)
The Group Chief Executive Officer of the Nigerian Exchange (NGX) Group, Mr., Oscar Onyema, has urged African governments to reposition their economies in order to attract foreign investments.
Speaking on the sidelines of the ongoing 2023 African Investment Forum (AIF) marketplace in Marrakesh, Morocco, Onyema said that African leaders should remove roadblocks, ensure connectivity to transportation and boost money payment systems on the continent.
He commended the efforts of the new administration in Nigeria in ensuring a business-friendly environment for investors.
“We have talked about investments in human capital and ensuring that investors have a conducive environment when they come to a country to do business.
“All these things are very critical and I am sure that Nigeria understands that when you look at what the current administration is doing, there seems to be a significant focus on ensuring we have the right environment and infrastructure to support investors.
“And they are also going out there, telling investors that we want you to come and that we are open for business,” local media reports quoted Onyema as saying on Thursday.
The reports added that Onyema stated that these things are very important because investment flows are ubiquitous and they will go where it’s easiest for them. So we understand that.
“From the capital market perspective, we have been talking to investors; portfolio investors do not like uncertainty.
“They like transparency; they like to be able to model expected returns to be able to articulate risk and manage the risk.
“So those are all very important things that our governments should be paying attention to as we try to attract investors,” he added.
He said that the Nigerian Exchange Group Plc was at the AIF to showcase projects and connect with investors.
GIK/APA
Group CEO of Nigerian Exchange tasks African govts on foreign investments
