Investing Africa must improve the level and risk-averse
Tag: Africa Investing, Africa Investing level
Summary: Venture capitalists are firms that invest business ventures by providing capital for start-up or expansion. Venture capitalists are professional investors that manage funds and are looking for suita…
Venture capitalists are firms that invest business ventures by providing capital for start-up or expansion. Venture capitalists are professional investors that manage funds and are looking for suitable investments for such funds.
Investment in Africa - The African Venture Capital Association (AVCA) has said it is working assiduously towards improving the level of investment in the continent.
Chief Executive Officer, AVCA, Mitchelle Essome, who said at a media briefing in Lagos on the association's forthcoming 9th annual African private equity and venture capital conference titled: 'Africa, the Rising Giant, emphasised that Africa needed sufficient investment that would propel its growth and also to enable it compete favourable with others continents.
Essome said that the total value of the venture capital industry in Africa was between $60 and $70 billion.She also stressed that the investor base of the continent could be improved through education.
According to her, the pension assets in Africa have recorded tremendous growth, adding that there is need to build capacity in the industry on how to invest such effectively.
Commenting on the conference which holds in Accra, between 22 and 24th April, Essome added: 'What we have succeeded in doing is to attract a lot of investors from the United States.
About 60 different investors that are attending the conference from different countries, manage a total of $280 billion. We hope to use the conference to showcase the investment opportunities in Africa.
'We also want to educate the local pension fund managers in the continent on the opportunities in Africa.'She said that the forum would also provide opportunity to bridge the gap in knowledge about investing in Africa as well as networking opportunities for firms in the continent.
On his part, a board member of AVCA, Mr. Okechukwu Enelamah, pointed out that developing countries such as Nigeria and others in the continent, needed to attract long-term investment.
Responding to questions on the performance of the Nigerian economy, Enelamah, who is also the Chief Executive Officer of African Capital Alliance, said there was the need to create an attractive environment to attract more foreign direct investment in the economy.
The economy, he declared, was on the path of development.According to him, venture capital firms in the economy, 'are generally interested in those part of the economy that require funding and at the macro-level of the economy, we are looking for sectors that require investment.'