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African Growth & Development Can Only Be Achieved Through Selflessness — Gov Sanowo-Olu
… CFA a vehicle in advancing investment opportunities and driving sustainable growth across the African continent
The Lagos State governor, Mr. Babajide Sanwo-Olu, has said that for the African Sub-region to attain it’s rightful position in growth and development, there is the greater need for selflessness to thrive in decision making.
According to him, the Sub-region which has enormous natural and human capital, can only attract the quantum of investment needed for it’s advancement, if the right thing is done at the realm of leadership.
Gov Sanowo-Olu, represented by the deputy governor, Dr. Obafemi Hamzat, made this opening remarks on Wednesday at the two-day 2023 CFA Institute Africa Investment Conference in Lagos.
The theme of the conference which centres on ‘The Emergence of Africa: A Rethink or A Restrategising? Dr. Hamzat noted that “the works that need to be done by leaders, policy makers and intellectuals, and indeed for all African, is to think through a strategy that will bring about balance and equitable development that leave no one behind “.
“We’ve already commence on this journey, leveraging on the resilience of our people, embracing and deploying technology, and maximizing the demographics gift of our city”, he added.
In her welcome remarks, Ibukun Oyedeji, CFA (President, CFA Society Nigeria) said the conference marks a significant milestone in CFA collective pursuit of advancing investment opportunities and driving sustainable growth across the African continent.
According to her “As we gather here, we are joined by a diverse and dynamic group of professionals, policymakers, entrepreneurs, and thought leaders who share a common vision: to unlock the immense potential that Africa holds.
“Africa, with its vibrant economies, rich resources, and a young and ambitious workforce, offers a wealth of untapped opportunities. Our goal over the next few days is to delve into these opportunities, engage in insightful discussions, and forge meaningful connections that will drive positive change and prosperity.
“Throughout this conference, we have curated a lineup of esteemed speakers and experts who will share their knowledge, experiences, and perspectives on various sectors and investment themes. We will explore emerging trends, innovative strategies, and the transformative power of sustainable investment practices that can shape the future of Africa.
“From exploring the potential of renewable energy and infrastructure development to discussing fintech innovations, the rise of impact investing, capacity building for African professionals, we have designed a comprehensive agenda that reflects the diverse landscape of investment opportunities in Africa. Our panel sessions and networking opportunities provided during this conference will provide ample opportunities for deep dives into specific sectors, fostering collaboration, and exchanging ideas.
Also in her remarks, Marg Franklin, CFA (President, CFA Institute) said the drive of the institute is to unlock the potential inherent in Africa as it relates to investment goals.
Franklin who informed participant at the conference that, Artificial intelligence can only be successful with human intelligence noted, “Africans need products applicable to it’s regions. This will provide avenues for investment. with a growing economy, it provides the needed impetus to draw the people out of poverty and backwardness “, she added.
In her keynote address, Aisha Dahir-Umar (Director General, National Pension Commission), who was represented by Mr. Shola Adeseun, a Regional Head, said the interconnectedness the financial industry helps to drive pension scheme in the domestic economy.
Meanwhile, the conference which continues today, had four panel session yesterday.
Panel 1: Medium Term Outlook for Key African Economies
Panel 2: The Search For Alpha: Where & How To Invest In Africa
Panel 3: ESG Considerations in Investment Across Africa: Challenges and Opportunities
Panel 4: African Tech Ecosystem
The day two which has two sessions, centres on:
Session 1 – My Career Journey
Session 2 – Building a Successful Career in Finance and Investment
The 2023 CFA Institute Africa Investment Conference, hosted by CFA Society Nigeria was in collaboration with CFA Societies in Africa namely, CFA Society East Africa, CFA Society South Africa, CFA Society Ghana and CFA Society Mauritius.
Earlier, the Lagos State governor, while using the conference to invite investors to key into the abundance investment opportunities in the state, noted that the transport, financial services sector and the new Lekki international airport should be areas of interest.
According to him, “the Policy we refer to as THEMES agenda. We have privatized investment infrastructure and human capital, while implementing policies to diversify the economy and facilitate the means of doing business.
“Recognizing the importance of infrastructure for sustaining economic growth, we have invested heavily in transformative projects, including transportation, networks, Housing infrastructural development. Today, Lagos state has first functioning metro rail system. The Blue Rail, which commences operation this year. We are also, nearing the completion of the Red line, which we expect will start working some time in 2024. This services together will carry 1.5 million comutters daily. This will not only improve the life quality of our citizen, but also create an environment conducive for business growth and development.
“In addition to infrastructure, we are building several roads in our city. The fourth mainland bridge, the Badagry expressway.This will further open up the state for more economic activities African Sub-region.
“we invite investors to join us in constructing the Lekki international Airport which has capacity to serve 5 million travellers annually. In addition we welcome investors to partner with us in developing four other Rail lines, in different parts of Lagos. The designs and ETA has been done. This will able to commute 4 million citizens daily. This no doubt will bring about huge returns on investment”, the governor added.
