The Chairman, Stanbic IBTC
Holdings Plc, Mr Atedo Peterside, has said that with consistent improvement in political governance, an expanding middle class, huge consumer market and economic gowth rates averaging five per cent in the last decade, investors can no longer overlook the business opportunities in Africa.
A statement from the bank quoted Peterside as saying this at the ongoing African Leadership Summit in Washington DC, United States.
According to him, going by the changes that have taken place, the current spot lights on the current continent is well deserved, people are coming to Africa general to invest and to share in this last frontier where they expect rapid growth.
“If the British and French were the first to come as Africa has become more important and looks like a new favoured destination, other Western powers obviously want to accelerate their entrance into the game and get to the fore front. That is why you see the Chinese have made their presence felt,” he said.
He noted that the continent make the most of the interest and opportunities it has as good governance was vital, pointing out that African leaders should create competitive environment to attract investment to their respective countries.
Mr Peterside said I tried and look at the picture is to improve governance in Africa generally, to improve the economic policy direction.
“When you take all those big steps each country will find its own way to operate in a particular sector and even if one country  doesnot have the best domestic policies to attract a particular investment, then, perhaps, they will move instead to a neighbouring country,” the chairman said.
The Statement added that Peterside had stressed that Stanbic IBTC and the Standard Bank Group, its parent company, which is willing to help the country to achieve its economic goals by providing the financing needed to boost critical sector of the economy.
He said the future holds great promise for all stakeholders as the Stanbic IBTC Group continues to seek opportunities in strategic sectors of the economy to grow its business in line with its future growth strategy.
“We understand that our long term sustained ability is dependent on the consistent provision of excellent service to our client and we are committed to ensuirng that their needs are met. Meeting the needs and expectations of our clients will remain our main priority,” the Statement declared.