Elumelu Calls for Better Governance in Africa
Tony Elumelu, Chairman of UBA Group, has emphasized the need for improved governance and transparency across Africa to attract foreign investment and unlock sustainable development.
Why is Africa not the preferred destination? To me, it is governance, to a large extent.
Speaking at the Norwegian–African Business Summit, Elumelu noted that creating an enabling environment for investors is crucial for Africa's transformation. He urged African governments to prioritize reforms that foster inclusivity and fairness, as investor confidence is closely tied to the quality of governance.
- Improve governance standards
- Create an enabling environment for investors
- Prioritize reforms for inclusivity and fairness
Elumelu stressed that transparency in governance is essential for long-term progress, stating:
Create the right operating environment, improve governance standards, and people will come to invest in your environment.
Author's summary: Elumelu advocates for better governance in Africa to attract investment.