The Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Ebenezer Onyeagwu,has expressed optimism that the African Continental Free Trade Area (AfCFTA) initiative will grant investors access to the entire continent.
He disclosed in a keynote address at the Africa Investment Risk and Compliance Summit 2021, organised by the Emerging Business Intelligence and Innovation (EBII) Group on July 30 at the University of Oxford, UK.
In the address entitled: ‘Leveraging Impact Investment Opportunities for Growth in Africa’, the Zenith bank boss implored investors in the agribusiness value chain to focus attention on Africa for organic food production, instead of genetically modified food in other climes,” he said.
He reiterated the need for increased impact investment in Africa,adding that it yields optimal returns for investors.
He said Africa is the new frontier” for global growth with huge investment opportunities in agriculture, healthcare, housing, infrastructure, electricity, and the creative sectors.
He added:“As a socially responsible organisation, Zenith Bank continues to promote impact investment in Africa.For example, the bank has maintained strong advocacy for investment in Africa through its flagship sponsorship of ‘Inside Africa’ on CNN for 16 consecutive years.
“This is helping to highlight the immense creativity and talent that abound on the continent and the enormous investment opportunities.The bank leverages its in-depth knowledge of the African market to guide investors and hedge their exposures.”
Onyeagwu advocated the need for a paradigm shift for improved accountability in leadership.
According to him,the continent remains under work in progress, adding that leaders in the public and private sectors must champion the changes they want to see by paying close attention to responsibility and accountability.
He further called for the de-risking of Africa through reforms, improved ease of doing business, respect for the rule of law and sanctity of contract and human capital development.
