Chairman, Heirs Holdings and Founder, Tony Elumelu Foundation, Tony Elumelu has called on African Heads of State to develop policies to attract Private Sector Investment by ensuring that there are strings of successes that investors can see.
He made this call while speaking to private sector captains, global investment leaders and key players in Africa’s development sector at a plenary discussion at the Africa Investment Forum titled: Championing Investments in Africa – Conversations with the private sector.
The event organised by the African Development Bank featured robust and interactive conversations on the investment landscape of Africa with a view to articulate fresh strategies that strengthen the economic framework of the continent, as well as map out a bold blue print to attract and retain private global capital.
Speaking on the importance of creating an enabling environment to attract foreign investments, Elumelu said “beyond signing deals, we need to make sure our deals work. Our leaders need to go back and reform our policies and economic framework.”
He stressed the need to attract the global investment community by leaving a visible trail of businesses successes.
On his part, the President of the African Develop Bank, Akinwunmi Adesina, while speaking on the critical role the forum plays in shaping a new African narrative, said “no country has developed by aid, but countries develop by the discipline of their investments.”
The Africa Investment Forum is indicative of the culminating efforts and clearer vision of both private and public sector leaders across the continent – depicted through stronger bilateral relationships and a bolder resolve to tackle development impediments
The conversation on attracting investments comes on the heels of the recently held Tony Elumelu Foundation Entrepreneurship Forum – the largest gathering of African entrepreneurs in which Mr Elumelu, in an interactive session with H.E President Nana Akufo-Addo of Ghana and President Uhuru Kenyatta of Kenya shared his broad business insight and tackled the peculiar challenges young Africans face in doing business on the continent