Stop the expensive method of attracting investors into your countries- Farouk to African Leaders

Dear African governments, The traditional methods of attracting investors have become not only excessively expensive but also increasingly ineffective. You travel with an entourage of over 50 people, dressed in suits more expensive than those worn by the very lenders you’re seeking money from often costly loans, at that. You sit in rooms where the real private, high-appetite-for-Africa investors don’t align with or even bother to show up.

Government-to-government funding always comes with strings attached. And when you’re fortunate enough to meet genuine private investors, instead of prioritizing your country, you try to exploit them for personal gains. Some of these outdated approaches have run their course. The world has grown smaller, and investors now understand our region and attitude better than we do. The notion that our abundant resources should automatically draw investment is misguided and no longer resonates.

Securing investments in today’s competitive landscape requires a relational approach, and the sooner we grasp this, the better. I’ve seen firsthand the strategies the UAE employed to attract investments, and African leaders need to abandon the excuse that the Middle East has an advantage because it is a monarchy absolute nonsense. Politics is no justification for behaving like a pack of wild animals. Our people deserve development and access to basic necessities.

Not later but today, now, with every sense of urgency. There are selfless individuals like myself who have built powerful networks and genuinely want to help. But if we’re going to attract the investments we need, it’s time to discard the archaic methods and work alongside those of us who can make a difference. I commend the President of Zimbabwe, His Excellency Emmerson Mnangagwa, Whether by coincidence or strategy, his approach mirrors that of the UAE’s founding father, Sheikh Zayed, in attracting investment. In time, prosperity will be the ultimate judge.

With the knowledge I’ve gained, the connections I’ve forged, and my unwavering belief in Africa, there is nothing, I repeat absolutely nothing that will stop me and my allies from bringing the necessary investments to the African continent. We may not transform all of Africa, but we will change countless lives for the better. I am not here to solicit for some fly by night associations or those with microwave speed expectations to join my efforts. If my passion for Africa and unwavering self-belief bothers you, guess what I couldn’t care less.

My aim isn’t to land on the Forbes rich list; it’s to make my contribution no matter how small toward Africa’s economic growth.

Article by Farouk Khailann, CEO – Premium Africa Holdings.

AMN | Anochie’s Report | Abu Dhabi.