By Maxwell Tochukwu and Chiamaka Meribole
TONYE Cole, Executive Director, Sahara Group joined experts from various global markets to deliberate on harnessing unfolding opportunities in emerging markets at the 2018 Paris Europlace International Financial Forum on July 11, 2018.
Billed as one of the largest C-level financial services events in the EU, the forum took place at the historic Pavillion d’Armenoville. Over 1,500 representatives of Corporates, international investors, financial institutions, brokers, law firms and consultants deliberated on the theme, “Europe in a Disruptive World”, including some sessions on how best to navigate, grow and diversify Emerging Capital Markets in a highly dynamic environment.
Cole the frontline African entrepreneur said emerging markets were witnessing progressive steps towards meeting widely accepted pre-conditions for attracting investments. These include: macroeconomic stability, transparency, diverse investment opportunities, reliable banking systems, robust institutional framework, investor protection as well as adequate Regulation and Supervision.
He noted that investments in emerging markets at this time would strengthen and accelerate the establishment of these pre-conditions, while opening a world of opportunities for good return on investments, economic empowerment and sustainable development.
“International expansion has been crucial to Sahara’s growth strategy over the past two decades. We fully understand the terrain and believe this is the right time for emerging markets to get a definitive look in from institutional and sundry investors to establish first-mover strong footholds on unfolding opportunities,” said Cole, while highlighting possible focus areas for EU investors ahead of the event.
With 2.5 billion people in developing countries deprived of access to formal financial services and more than 200 million small businesses lacking access to the financing they need to grow, expanding access to finance remains a challenge. Digital finance alone could benefit billions of people by spurring inclusive growth that adds $3.7 trillion to the GDP of emerging economies within a decade, according to a recent report by the McKinsey Global Institute.
According to Cole, financial inclusion remained a vital enabler of achieving the UN’s Sustainable Development Goals in emerging markets.