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CNN’s Marketplace Africa Speaks To Zenith Bank Founder, Jim Ovia

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CNN’s Marketplace Africa speaks to the founder of Zenith Bank, Jim Ovia who tells the programme why he is optimistic about opportunities in Africa and what investors can expect from the continent.

For Ovia, the potential for investors in Africa is limitless as he explained, “Africa is a continent of tremendous opportunities. Continent of raw materials. Continent of very hardworking people. We have a very able workforce. The level of education is also rising so that is why Africa offers tremendous opportunities for many foreign investors.”

Jim Ovia told the CNN how Nigerian companies have gone on to be a success internationally.

“In 2004, there were no Nigerian company listed in the London Stock Exchange – none. But today, we have quite a few of them, including two Nigerian banks and one oil and gas company. I don’t know a better way to describe these activities and this recognition of hardworking people in Africa, particularly Nigeria, South Africa, but to describe it as ‘Africa Rise and Shine’.”

For people looking to invest in Africa, Ovia told the CNN how there were many different industries across Africa which had the potential to be profitable.

“Banking is a great investment to make in Nigeria. Agriculture is also great. Refinery is good. Manufacturing even the best and they all make Africa. If you take for example Nigeria, we know so well it’s almost a virgin land, waiting for tremendous opportunities to pour in, land of infinite possibilities,” he explained.

For people who are worried about investing in Africa, Ovia stated his belief that nerves were a normal thing to experience.

 

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