By Babajide Komolafe
Commercio Partners have called for measures to attract foreign investors into the country saying this is critical to building the external reserves, achieving low yields in fixed income and making the equities market attractive.
Meanwhile the company has indicated its intention to obtain a regional banking license as part of measures to fulfil the aim of being a one-stop financial solutions provider.
Speaking at a press briefing to mark the 5th anniversary of the company, which started operations in 2016, Nnamdi Nwizu, Co-Managing Partner, said: “We need foreign investors to come back into the country. We have seen crude oil price rising, getting to about $70 per barrel which is good for us but the other side we need is to see OPEC increase production volume for Nigeria so that we can feel the full effect of that rise in crude oil price.
“If we can get our reserves way back up and start getting more dollars coming in, we will see more interest from foreign investors, then the currency we appreciate or stabilise which will also reduce imported inflation that we see in the market.”
Also speaking, Managing Director, Commercio Capital, Steve Osho, noted that for Nigeria to attract foreign investors there must be liquidity and stability in the forex market adding that these are major considerations for foreign investors.
“For them the key thing is liquidity. And that will point more towards the rate of the currency versus the yield. Because even if you take yields to 16 per cent or 17 per cent, and people are worried that when they come in their funds will be trapped then you will not see them anxious or eager to come into the country.
So they want liquidity, they want easy entry and easy exit”, he said.
Speaking on the plans of the company to become a one-stop financial solutions provider, Tosin Osunkoya, Co-Managing Partner, Asset Management, said: “Our target for the next five years is for commercial partners to be a one-stop shop.”