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.
Elumelu made this statement at the Norwegian–African Business Summit, where he highlighted the importance of creating an enabling environment for investors. He urged African governments to prioritize reforms that foster inclusivity and fairness, noting that investor confidence is closely tied to the quality of governance.
- Improved governance and transparency are essential for sustainable development.
- Creating an enabling environment for investors is crucial for Africa's transformation.
- Transparency in governance is vital for long-term progress.
As Elumelu stated,
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.