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The Regional Chief Executive Officer, Africa, Middle East and Asia, Ocorian, Richard Arlove, has emphasised the developmental impact of alternative investment on corporates, financial institutions and the development of the African continent.
He spoke during the maiden forum Ocorian, an Investment, Corporate & Institutional, Private Client and International Growth service provider, which took place in Lagos.
During the event, stakeholders such as investment bankers, investors and policy makers highlighted the importance of alternative investment, corporate governance and adequate risk management to growing African companies and countries.
Arlove said, “For any nation to make remarkable progress, there must be an alignment of the business community and government. There should also be an alignment of human capital, financial capital, and government capital. There is a need for all of the capital to be aligned properly to allow businesses grow in Africa.”
While delivering the opening remark, the Founder, The Nehemiah Youth Empowerment Initiative and Former Executive Director & Co-Founder, Sahara Group, Tonye Cole, explained the role of the investment banking community to the attainment of the Sustainable Development Goals.
He said, “The financial and economic liberation of Africa and Nigeria specifically is critical for business growth. I have over time worked with the team in charge of meeting the Sustainable Development Goals 2030 target for the economy. The United Nations estimated the capital required for the period to be $11.5tn. The issues related to poverty, hunger and malnourishment and zero access to basic healthcare are some of the global challenges.”
During the forum, there was a panel discussion with the theme, “Adding value to international business in and out of Nigeria – the role played by an international financial centre.”
The panel emphasised the need for companies on the African continent to build sustainable businesses by seeking capital from the most efficient sources for growth. The panel also identified constraints faced by businesses as they try to raise expansion capital and proffered solutions to the problems.
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