Two weeks past saw the beginning of a first of its kind United States/ Africa initiated investment conference on the backdrop of the Word Economic Forum that took place in Durban. NPI Governance Consulting’s CEO, Israel Noko had the privilege of being invited as a panellist to the ABSIP (The Association of Black Securities & Investments Professionals) & NASP (National Association of Securities Professionals, a US-based organisation that assists people of colour and women achieve inclusion in the financial services industry), bilateral roundtable that was pertinently themed, “Mobilizing Foreign& Domestic Investors for Investment in Africa”.
Fellow panellists ranged from World Bank and USAID officials, who participated in the discussion as interested parties in building bilateral relations on investments in Africa.
Chair elect of NASP, Donna Wilson speaks vehemently on this initiative as a much needed catalyst in the education, inspiration and exposure of their member partners through NASP Africa, an advisory investor council that’ll champion these relations especially in light of a grant received from the United Institute of International Development that ranges in the region of over $3 Trillion. Their mandate is in mobilizing their constituency on the investment opportunities aswell as the economic impact of supporting the power, water and transportation industries on the African continent.
NPI Governance Consulting was undoubtedly disconcerted by this invitation firstly because there is a clear relationship between NPI’s values on black empowerment as well as that of NASP’s targeted membership, and then secondly the key focus on the African continent resonates without deviation with NPI’s own vision of “Pioneering Equitable Growth in Africa”. A sure win in fostering a global approach to Africa’s sustainable economic development.
According to Israel Noko, “Though these discussions are in their infancy stages, it is reassuring to see relationships such as these being fostered. I see NPI Governance Consulting playing a crucial role in facilitating these kinds of initiatives. More important, is the need for investors, both domestic and international to wholly understand and internalise operational B-BBEE Ownership structures in particular, in order to participate in highly competitive deals that will derive ongoing, sustainable and truly representative of transformation investment opportunities for all”.
Top of the panel discussion from a BEE point of view was the prevalent lack of faith in black investors in financial services, the situation of Ownership structures not benefitting the intended beneficiaries but rather the established financial institutions and the need for more innovation to ensure that existing BEE transactions become a denotation that BEE deals can be sustained and that the pipeline of deals are structured with the same in mind, meaning au fait structures and the added positive contribution that black fund managers can play a role in.
NPI Governance Consulting remains committed to the need for a continuous drive towards education around Africa’s investment potential, through vehicles like B-BBEE but more so with a continent wide view to increasing opportunities that will attract direct foreign investment to the continent as a whole.
The rise of discussions and forums such as the bilateral roundtable further entrenches our commitment to, “Pioneering Equitable Growth in Africa”- it is possible.
For further information, contact:
Thato Malebane, Marketing & Communications Manager
Tel: (+27) 011 259 4018