As part of efforts to drive financial inclusion and access to private equity by local enterprises, the African Private Equity and Venture Capital Association (AVCA) has organised its inaugural Focus Live Forum.
The event took place in Lagos recently, with the theme: “Private Investment in Nigeria.”
It addressed stimulating industry-wide issues and policies, challenges, opportunities and developments in the African private investment sector.
The Chief Operating Officer, African Private Equity and Venture Capital Association, Abi Mustapha-Maduakor, during her opening remarks pointed out that Nigerian technology-driven start-ups have the potential to become major players in the country, whilst contributing immensely to Nigeria’s Gross Domestic Product (GDP).
Mustapha-Maduakor, added that the association was doing everything in its capacity to support start-ups.
Also the, Managing Partner, AELEX, Theophilus Emuwa, revealed that Nigerian start-ups secured the largest amount of funding in 2018 in Africa and Nigeria was also home to the highest number of start-ups that closed multi-dollars rounds of deals in the continent.
This, he explained, was a clear indication that the ecosystem was right, with the potential to transform lives of millions of people, businesses in the country by providing innovative solutions to challenging issues.
Also speaking at the event, the Managing Director, Africinvest Nigeria, Abiola Ojo-Osagie explained that: “AVCA’s 2018 Limited Partner survey shows that investors view Nigeria as the most attractive country for private equity investments in Africa over the next three years.
“To make this view a reality however, I believe partners must map a clear eyed strategy that seeks to build long-term resilience, promote local development with a lot of innovation to create operational efficiencies in their portfolio companies.
“We need to be able to adapt in strategies as an investment company in order to thrive in market realities and situations. When sustainable value is created, with due diligence you know the key factor adding more sustainable values to your offerings impacts the growth of the economy as a whole.”