FIN woos foreign investors to Africa

The Foreign Investment Network in Nigeria and MahaBiz in India have collaborated to provide a platform for investors in Asia and the United Arab Emirates to explore business opportunities in Africa.

This is ahead of the annual two-day event for entrepreneurs scheduled to be held in Dubai in February.

In her opening remarks at a pre-event conference on Monday, the Chairman of Foreign Investment Network, Mrs Olayinka Fayomi, said that FIN collaborated with investors in Asia, United Arab Emirates and other African countries to explore business opportunities in Africa.

Fayomi said FIN would be collaborating with local partners and the government to drive investments into emerging markets through the annual Mahabiz conference.

She noted the conference would offer a platform for innovation, investment, and dialogue, creating pathways for a prosperous future.

She said, “Investors who take the time to understand the unique characteristics of these economies, assess the associated risks, and implement effective strategies stand to reap the rewards of being early movers in this exciting realm of global investment.

“The main event will be held physically in February at the Metropolitan Hotel, Dubai and Atlantis the Palm, Dubai, where investment opportunities and agreements will be discussed and agreements signed.”

According to data from the UAE’s Ministry of Foreign Trade, the country’s overall trade with six non-Arab African countries (Angola, Kenya, Nigeria, Ethiopia, South Africa and Tanzania) reached $8bn in 2020.

Dubai’s trade with Africa is projected to see an annual increase of up to 10 per cent over the next five years following the implementation of AfCFTA, according to a recent analysis from the Dubai Chamber.

Themed ‘Catalyst In Business, Investment & Economic Growth,’ the conference would feature discussions about the vast potential businesses within emerging markets, roles of investors in the global investment arena, pathways to economic growth, development and the inherent opportunities across the globe.

The Chief Executive Officer of Sanbook Quality Consultancy, Dr Sunil Manjarekar, added that in the current ever-changing and competitive global economy, private equity funds have emerged as powerful catalysts for driving economic growth.

“These investment vehicles play a crucial role in fueling innovation, fostering entrepreneurial ventures, and creating opportunities for job creation. With their ability to infuse much-needed capital into businesses across various sectors, private equity funds have become key players in shaping the trajectory of economic growth worldwide,” he said.

Manjarekar urged investors to take advantage of the investment opportunities in mining, water resources, recycling, agriculture, real estate amongst many others.