Ocorian, an award-winning Alternative Investment, Corporate & Institutional, Private Client and International Growth service provider has held its maiden forum in Nigeria.
The forum which brought together investment bankers, investors and policy makers highlighted the importance of alternative investment, corporate governance and adequate risk management to growing African companies and countries.
Declaring the event open, Richard Arlove, Regional CEO, Africa Middle East and Asia (AMEA), Ocorian, emphasized the developmental impact of alternative investment on corporates, financial institutions and the development of the African continent. According to Arlove, “for any nation to make remarkable progress, there must be an alignment of the business community and government. There should also be an alignment of human capital, financial capital, and government capital. There is a need for all of the capital to be aligned properly to allow businesses grow in Africa.”
Delivering the opening remark, Tonye Cole, Founder, The Nehemiah Youth Empowerment Initiative and Former Executive Director & Co-Founder, Sahara Group, drew attention to the role of the investment banking community to the attainment of the Sustainable Development Goals (SDG).
“The financial and economic liberation of Africa and Nigeria specifically is critical for business growth. I have over time worked with the team in charge of meeting the Sustainable Development Goals 2030 target for the economy. The United Nations estimated the capital required for the period to be $11.5 trillion. The issues related to poverty, hunger and malnourishment and zero access to basic healthcare are some of the global challenges.”
A highlight of the forum was a panel discussion themed: “Adding Value to International Business in and out of Nigeria – the role played by an International Financial Centre”. The panel discussion was moderated by Nousrath Bhugeloo, Regional Head, Ocorian AMEA, Business Development. Others on the panel were Wola Asase, head of Syndication and Trade Finance, Africa Finance Corporation; Tokunboh Ishmael, Co-Founder and Managing Director, Alitheia; Adesuwa Okunbo, Partner & Managing Director, Syntaxis Capital Africa; Ari Sengupta, Group Managing Director, Chicason Group and Richard Arlove, Regional Director AMEA, Ocorian.
The panel emphasised the need for companies on the African continent to build sustainable businesses by seeking capital from the most efficient sources for growth. The panel also identified constraints faced by businesses as they try to raise expansion capital and proffered solutions to the problems.