South African Bankers eyeing investment collaborations in Nigeria
South African Investment Bankers have hinted on their intention to partner with Nigerian counterparts on investment opportunities in the Africa’s largest economy.
The disclosure was made at the recently concluded International Executive Development Programme (IEDP) training for the Banking Sector and Training Authority (BANKSETA) hosted by the Lagos Business School (LBS), over which the organizer has received accolade from the South African professionals. The five-day programme which started on Monday, June 19, 2017 and held in Lagos, brought together high potential leaders from the investment banking sector in South Africa and immersed them into the best practices of the Nigerian economy, culture and environment.
Thebe Mabiletsa of Absa Capital, South Africa, commended the Lagos Business School for hosting them in Nigeria, an experience he said had broadened the delegation’s horizon on the uniqueness of the Nigerian economy and market. He revealed that Nigerian businesses “have created a niche space in terms of their innovation and expertise which can make them partner favourably with South African banks as well as other banks on the continent.” Lead Professor/Orchestrator, Duke University, Jared Bleak, said that the key learning from the week-long programme was evident in the prospects for Nigerian banks becoming more international and how they could collaborate with other markets on the continent and even the rest of the world.
“The internationalisation of Nigerian banks is happening, and even the South African groups here have learned from the economy and possibly thinking about partnerships,” he stated.
He also commended the LBS for exposing the team to a fast emerging market on the African continent, as well as the warm reception.
Meanwhile, Senior Lecturer, Strategy, Finance and Risk Management, LBS, Dr. Franklin Ngwu, remarked that it was a great feat helping the South African Investment bankers to understudy the Nigerian financial sector to see areas of opportunity, investment and collaboration with the two countries. “We have exposed them to both the formal and informal aspects of the economy and we envisage a possible cooperation and investment between the two economies,” he said.
The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr Oscar Onyeama, also rained praises on the LBS on the initiative, adding that “opportunities such as this affords the stock exchange an avenue to share relevant information which boosts confidence in the Nigerian capital markets and in turn the Nigerian economy.”
Dr. Enase Okonedo, Dean, Lagos Business School, expressed appreciation to all organisations that welcomed the LBS/IEDP-BANKSETA participants during their tour for showing support during the programme and wished the South African bankers a safe trip back home. Some of the activities explored during the programme included visits to the International Centre for Commerce (ICC) Balogun Market, Lagos; NIKE Art Gallery; SLOT Systems Limited; Computer Village, and interactive sessions with Afrinvest, Ecobank and Fintech CEOs (Konga, Venture Garden, Interswitch etc.). Others include a visit to the Nigerian Stock Exchange (NSE), where the BANKSETA participants got exposed into the Nigerian economy, the capital markets and participated in the activities of ringing the closing bell on the NSE trading floor. Banking Sector Education and Training Authority (BANKSETA) is a South African statutory body interested in promoting knowledge and skill acquisition in the financial sector.