Venture Capitalists Plan to Boost Investment in Nigeria

African Private Equity and Venture Capitalists Association (AVCA) has expressed its preparedness to promote investment opportunities in Nigeria. Mrs. Michelle Kathryn Essome, Chief Executive Officer of AVCA, while announcing the association’s forthcoming annual conference from March 31st to April 2nd, noted that private capital in Africa is focused at strengthening investments. “Private equity and venture capital plays a crucial role in financing the small and medium scale enterprise (SME) sector, the engine of economic growth the world over. Private equity fund managers also play a key role in helping management to establish governance structures and growth plans, leading to more sustainable businesses,” Essome said. She noted that private capital in Africa seeks to support hundreds of local businesses looking to build their potential. According to her, one of AVCA’s key merits is to provide leading industry research to support the private capital ecosystem in Africa. At the association’s upcoming conference, she said it would launch its first ever pan-African survey focused on private equity. The survey would appraise the sentiments of investors from across the globe on private investment opportunities in Africa. She stressed further that the AVCA was working with the Rockefeller Foundation to launch a report on “impact investing policies in Africa,” which would contribute and explore policy barriers across Africa. Speakers expected at the conference are the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga and Head of Emerging Market Fund Investment Abu Dhabi Investment Authority, Mr. Christophe Florin, amongst others.