Speaking at the summit, Onyema noted that Africa’s potential
as a growth market for businesses is highly underestimated and access to
capital is critical to unleashing investments in Africa.
“Its fast-growing population, competitive markets, and
urbanization expected to drive over 50% 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”, he added.
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 industrialization, universal health coverage, food security and
affordable housing, as well as improved education, energy, telecommunications,
and financial sectors. Mr Onyema however argued that the current tightening
round in global monetary policy and geopolitical stress is becoming unyielding.
Speaking on trending sectors, Mr. Onyema highlighted
Agriculture, real estate, tech and natural resources as factors responsible for
growing the African market. In terms of Africa’s economic potential, Africa has
changed over the past 20 years into an interesting option for emerging and
frontier market investors.
He further noted that the continent has huge natural
resources, a young and increasingly educated workforce, greater political
stability, and better linkage to the global economic framework and would need
to do more in reaching a golden age of investments.
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