The Managing Director of Coronation Asset Management Limited, Mr. Aig-Imoukhuede in this interview, speaks on the strategic growth mechanism of the company and the relevance of the firm’s platinum sponsorship for Lagos State and EnterpriseNGR in their groundbreaking participation in the 805th procession of the esteemed Lord Mayor’s Show in London. Raheem Akingbolu brings the excerpts
How do you view the importance of global partnerships in Africa’s economic development, particularly in the financial sector?
Global partnerships are crucial for Africa’s economic advancement. They bring in diverse expertise, resources, and opportunities that foster innovation and growth. By collaborating with international entities, we create an interconnected financial landscape, enhancing competitiveness and attracting significant investments. We also create channels to exchange solutions to the challenges we all face.
How does this collaboration align with Coronation’s long-term business goals?
This collaboration aligns perfectly with our bold mission to provide transformative solutions to Africa’s unique challenges and position Nigeria as Africa’s premier financial market. By participating in esteemed international events like the Lord Mayor’s Show, we strategically position Nigeria for future collaborations and partnerships, ensuring sustained growth and prominence on the global stage.
What inspired Coronation Group to assume the role of Platinum Sponsor for Lagos State and EnterpriseNGR in their groundbreaking participation in the 805th procession of the esteemed Lord Mayor’s Show in London?
As a leading African financial services company, we recognise the transformative potential of this collaboration. Our motivation stems from the shared vision to showcase Nigeria as a global financial powerhouse and to foster economic growth, innovation, and international collaborations within the African financial landscape. This sponsorship exemplifies our commitment to positioning Lagos and by extension Nigeria as a premier financial hub on the global stage, reinforcing our dedication to catalysing sustainable development and nurturing strategic partnerships for the economic prosperity of our nation.
Seeing that this is the first time Africa is participating in the event, how does this partnership benefit Nigeria’s Financial and Professional Services sector?
The collaboration allows us to spotlight Nigeria’s Financial and Professional Services sector to a global audience, demonstrating our expertise, innovative solutions, achievements and prospects in various economic sectors. It enhances our country’s image as an investment destination, attracting potential investors and fostering growth within key sectors.
What specific roles will Coronation Group play during the Lord Mayor’s Show and associated events?
Through our partnership with Lagos State and EnterpriseNGR, we will project Nigeria’s vibrant cultural heritage and showcase the dynamism of our financial and professional services sector to an international audience looking for exciting investment opportunities. At the Lord Mayor’s Visiting Cities Banquet, we will network with global luminaries and decision-makers, fostering partnerships with immense possibilities. The specially curated Lagos Dinner on November 14, 2023, aims to leave a rewarding impression on attendees, including prominent Nigerian and UK business leaders. Furthermore, we will seize the opportunity to meet with global players at the intersection of finance and development such as the Private Infrastructure Development Group (PIDG) – comprising Australia, Austria, Germany, Ireland, the Netherlands, Sweden, Switzerland, the United Kingdom and the World Bank Group – which seeks to drive private infrastructure investment in developing countries, leading to economic growth and poverty reduction.
How will value be created and sustained beyond the Lord Mayor’s Show and associated events?
The newly inaugurated Lagos International Financial Centre (LIFC) Council is at the forefront of this transformative collaboration. The LIFC Council, backed by Coronation Group’s Platinum Sponsorship at Lord Mayor’s Show, is poised to establish Africa’s premier International Financial Centre, promoting global best practices and competitiveness. The long-term benefits are extensive. Among them are increased foreign investments through targeted outreach programs and partnerships with international trade organisations, job creation facilitated by expanded businesses, technology transfer, and knowledge exchange. Ultimately, this participation significantly contributes to Nigeria’s economic growth, stability, and global prominence.
Are there ways in which this collaboration contributes to Nigeria’s global trade relationships?
Our participation strengthens Nigeria’s international trade efforts by showcasing the country as a thriving business hub. It will facilitate discussions with international trade partners, paving the way for bilateral agreements, export opportunities, and foreign direct investments.
What benefits can investors expect when considering their options in Nigeria?
Foreign investors can expect a welcoming business environment, access to the largest market on the continent, a highly skilled workforce, and a strategic location in the heart of Africa. Coronation Group is committed to providing investors access to rewarding investment opportunities through our capital markets businesses including Coronation Asset Management, specialized banking and trade solutions through Coronation Merchant Bank and superior risk protection services through Coronation Insurance and Coronation Life Assurance.
How do you envision the future of Africa’s financial landscape, considering this significant collaboration and sponsorship at the Lord Mayor’s Show?
We envision a future where Africa’s financial landscape is vibrant, interconnected and forward-thinking. Through strategic collaborations like this, we pave the way for a dynamic and competitive financial sector, driving economic prosperity, empowering communities, and positioning Africa as a key player in the global economy.
Can you give us a brief overview of the Coronation Group and its offerings?
Coronation Group is an ecosystem of entities that offer a wide array of financial services covering investment, lending and insurance. Our integrated platform encompasses companies including, Coronation Asset Management Limited, Coronation Capital Limited, Coronation Securities Limited, Coronation Trustees Limited, Coronation Registrars Limited, Coronation Technology Limited, and Trium Limited. The Group is also affiliated with companies such as Coronation Insurance Plc., Coronation Life Assurance Limited, Coronation Insurance Ghana Limited, and Coronation Merchant Bank Limited. Coronation Group maintains strategic investments in leading players in the technology and energy sectors.
