The group Chief Executive of Oando, Adewale Tinubu, has highlighted that visa issuance is one of the reasons it is so difficult for investors to invest in African countries.
The energy tycoon underlined this when he spoke over the weekend at the ongoing Intra-African Trade Fair (iatf 2025) on the topic: African Giants: In a Conversation with Two of Africa’s Most Active Industrialists.
Tinubu pointed out that appropriate regulations and an enabling environment should be created to facilitate business on the continent.
He said: “Several things have to be done in Africa, and they are already being done, hence the evolution. Something as basic as visas. You can get a European Union visa to go to Europe and visit 20 countries. In Africa, I still needed a visa to come to Algeria. So, if we are really serious about the integration of the economy, we need to deal with basic things like visas. People ready to do business shouldn’t need a visa to come to Algeria.
“It’s archaic. It’s ridiculous in today’s world that it’s easier for us to do business in Europe than it is to do business on our continent, and these are the things that leaders have to fix if we want to drive progress. From my personal experience, we don’t come to Algeria often to do business because it’s difficult to come here, just like it’s difficult for Algerians to come to Nigeria. We probably need visas, so it will take them four weeks to get one. So, they take a plane and go to the Dubai Institute, which will also point out other solutions to ease trade across the continent.
“We need political stability. No one wants to invest in a country where governments change every other week. Also, the rule of law—it’s extremely important to know that changes are protected. And also at an economic level, essential change rates, interest rates, access to capital, and ease of doing business.”
Earlier on Saturday, Tinubu was also the cynosure of all eyes during the Fireside Chat, where he drew lessons from experiences garnered over the years and gave business advice on a number of issues.
