Investment Opportunities in Africa: Challenges and Prospects
Featuring: Dr. Martin Oluba, Executive Director, Forte Financial Limited and Adjunct Professor of Economics Swiss Management Center, Switzerland and Austria
Moderator: Mr. Thompson Ayodele, Executive Director, IPPA Nigeria
Date: Wednesday, 30th July, 2008
Venue: IPPA Main Office, 9A Adekunle Odunlami Street, Ilupeju, Lagos
Time: 11am-1pm (Lunch will be served)
Africa has enormous potential to lift millions of its impoverished people out of poverty. While economic growth is a sure weapon against poverty, investment prospects are never fully tapped. Instead there is a wide gap between investment potentials and its realization. Rather than dismantling barriers that hinder wealth creation and investment profile, leaders in the continent are busy employing a beggarly approach, seeking more injection of foreign aid.
Nearby markets are vital sources of potential export growth for Africa. In making the continent a destination for investment, African leaders should take the lead. However, Africa intra-regional exports as a percent of exports to the world is just mere 9% compared to 43% for intra-regional trade in Asia, 70% industrial countries and 29% for Europe. In addition, there is the need to reduce transaction costs in Africa and the rate at
which bureaucrats interfere with businesses. What is commonplace in the continent is a chaotic policy environment that has driven businesses out of extinction.
For Africa to take advantage of its unique potentials, the economics are clear: trade liberalization, combined with pro-market developmental domestic reforms, will enhance the continent’s economic potentials. Foreign aid, redistribution plans and welfare policies raise hope for the poor but have largely failed to put food on the table of millions of people. Investment initiatives are daily faced with over regulations, multiple taxation, property rights violation and crumbling infrastructure. All these self-induced challenges have hindered the much-needed investment.
Dr. Martin Oluba who has done a considerable work on investment opportunities in Africa will further shed light on current business climate and what leaders should do to make the continent investors’ haven.
This event is free but strictly by invitation, to reserve a place please email Michael@ippanigeria.org or call Segun on 01-791-0959 or 080 5670 6884
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