Experts want more investments for economic recovery – Stakeholders should emphasise the impact investment, as part of COVID-19 pandemic recovery, to hasten growth and development.
These were the submissions at a virtual conference, under the theme, ‘’Investing in the new normal: A call for impact investing in Africa’’, organised by The Funding Space, in collaboration with First City Monument Bank (FCMB).
The conference recorded over 1,100 participants from 18 countries.
Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema highlighted the opportunities of impact investing in Africa and the need for investors to operate with high standards.
He stated that Small and Medium Scale Enterprises (SMEs) should be viable stakeholders on the capital market, as this would go a long way to boost their performance.
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FCMB’s Executive Director, Business Development,, Mrs. Bukola Smith, said: “We are excited to be part of this initiative. Impact investing will go a long way to help Africa attract more private sector capital and skills to reduce the continent’s vulnerability to external shocks, through the provision of market-based solutions to address socio-economic needs in a sustainable manner.
‘’At FCMB, we will continue to upscale our support to businesses through the profitable and beneficial business models we have developed for entrepreneurs. We have gone a step further by ensuring that SMEs that have benefited from our support, will in turn, go ahead to impact positively on society.’’
Also, the Managing Partner of SME.NG, Ms. Thelma Ekiyor, said: “Since 2017, The Funding Space has hosted annual convenings that link ideas to financing. This event provided a unique opportunity for investors, policy makers and entrepreneurs across Nigeria, Africa and the world to deliberate and share ideas on how to support robust post-COVID recovery processes on the continent.
‘’In Nigeria, impact investors NEED to forge strategic alliances with the government to implement recovery initiatives that would reach communities most affected by the Pandemic. This event was an important contribution to building those alliances.“