Misperceptions About Investing in Africa
The Initiative for Global Development (IGD), working with its partners, has launched a new series of videos featuring experts and senior executives from top African and American businesses and addressing misperceptions of investing in Africa. The video series covers important topics on the subject of investing in Africa such as, “Why misperceptions exist,” “Real risks vs. perceived risks,” “Dealing with corruption in Africa,” and “Leveraging African entrepreneurs and small and medium enterprises (SMEs).”
Africa presents a wealth of opportunities, boasting valuable resources and a growing population. However, as IGD promotes and encourages investments in Africa, it recognizes and must 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, channels his four decades of experience working in business across most of Africa’s 54 countries when he explains, “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.
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 with the potential to become the next Google. The videos highlight perspectives of various voices from African businesses, investors, the public sector, capital advisors, and media representatives. “The concerns of corruption are usually overblown. Investors can actually find local partners to engage in productive business,” said Mel Okudo, an investor advisor focusing on Africa, in his interview for the videos. He continued, “Investors who are seeking high uncorrelated returns are well advised to look at investments in Africa to find those that best fit their portfolio.”