IGD moves to address misperception of investing in Africa

From Suleiman Idris, Lagos

The Initiative for Global Development said a video series has been released featuring experts and senior business executives to change perceptions about investing in Africa.

The IGD and its partners explained that the new videos feature experts and senior executives from top African and American businesses and addressing misperceptions of investing in the continent.

Topical issues covered in the series include ‘Why misperceptions exist,’ ‘Real risks vs. perceived risks,’ ‘Dealing with corruption in Africa,’ and “Leveraging African entrepreneurs and small and medium enterprises (SMEs)’.

The global body affirmed Africa presents a wealth of opportunities, boasting valuable resources and a growing population but said the continent must recognizes and confront commonly-held misperceptions and assumptions regarding the investment environment in Africa.

These misperceptions dissuade new companies’ market entry resulting in stifled economic growth, stagnated community, and social development. IGD’s President and CEO, Dr. Mima Nedelcovych explains that “IGD understands that to drive poverty reduction through business

investment, it is critical that we directly address and help to overcome these misperceptions, focusing instead on Africa’s lesser-known success stories as a continent with considerable economic and human potential.” The campaign to change perceptions is especially timely, as Washington D.C prepares to welcome African Leaders to the U.S-Africa Leaders’ Summit this August 5 and 6. He said in a statement. Mel Okudo, an investor advisor focusing on Africa, in his interview for the videos said “Investors who are seeking high uncorrelated returns are well advised to look at investments in Africa to find those that best fit their portfolio.”

“The concerns of corruption are usually overblown. Investors can actually find local partners to engage in productive business,” The video series features top CEO and senior executives and experts like Yinka Oyinlola, CEO of the Nigeria Leadership Initiative (NLI), Thad Simons, Former President & CEO of Novus International Inc. and current President of IFAMA, and Austin Okere, Founder & CEO of Computer Warehouse Group, an African ICT company.