Unlocking Nigeria’s investment potential: Embracing digital solutions for economic growth

As Nigeria navigates the complexities of economic growth, we must recognise the pivotal role investment plays in shaping the future.

With a burgeoning youth population and an increasing appetite for financial inclusion, our country is ripe for innovative investment solutions. The mutual fund industry, in particular, holds immense potential for driving economic growth.

The Challenge, Nigeria’s investment landscape is hampered by inefficiencies and limited access. Conventional investment platforms typically mandate high-value investment entry requirements, locking out many potential investors. This exclusion perpetuates financial inequality, stifling economic mobility and growth.

The Opportunity, digital solutions offer a game-changing opportunity to democratize access to investment products. With lower entry barriers and real-time portfolio management, Nigerians can now participate in the investment space with much ease, unlike previously experienced. Digital platforms can. Increase financial inclusion: Reach underserved populations and provide access to investment products. 2. Enhance transparency: Real-time portfolio tracking and reporting.3. Improve efficiency: Automated processes reduce administrative burdens.4. Foster diversification: Access to a broad range of investment options.

The Way Forward-To unlock Nigeria’s investment potential, we must prioritise:1. Digital infrastructure development: Reliable and secure technology infrastructure. 2. Regulatory frameworks: Clear guidelines for digital investment platforms.3. Investor education: Financial literacy programs to empower investors. 4. Collaboration: Industry stakeholders, policymakers, and regulators must work together.

Coronation Asset Management’s Commitment-At Coronation Asset Management, we are committed to harnessing the power of digital innovation to drive investment growth. Our upcoming webinar, “Building Wealth with Mutual Funds: A Digital Approach,” brings together industry experts to explore the intersection of technology and investment.

Call to Action- Nigeria’s economic future depends on our ability to harness the potential of investment. Let’s seize this moment to build a more inclusive, digitally-driven investment ecosystem. We urge policymakers, industry stakeholders, and investors to join us in embracing digital solutions for economic growth.

About the Author:-Mr. Aigbovbioise Aig-Imoukhuede, the Managing Director of Coronation Asset Management, holds a bachelor’s degree in business studies from the University of Buckingham. He is the current President of FMAN (Fund Managers Association of Nigeria) and is an Associate Member of the Institute of Directors, Nigeria, and the UK. He has over 26 years of experience as a diverse financial services professional with expertise in wealth management, corporate banking, treasury, and capital market transactions. He has, over the years, built an industry-wide reputation for achieving and surpassing set goals, which has increased both customer and employer confidence in his ability to deliver.

Mr. Aig-Imoukhuede started his banking career with Fidelity Bank in 1997, where he worked in various capacities in Retail Banking, Private Banking, Commercial Banking, Public Sector, and Treasury and Funds Management. Also, he has worked with MBC International Bank Limited and First Bank Plc, where he worked in various capacities in Commercial and Corporate Banking as well as Head, Construction and Real Estate. He was the Head of Capital Markets at Coronation Merchant Bank in charge of Investment Banking and Private Banking and oversaw the Bank’s subsidiaries in Asset Management, Securities Brokerage, and Trustees. Before joining Coronation Merchant Bank, he was a director of Wealth Management in charge of relationship management and business development at Marina Securities Limited (MSL).

About Coronation Asset Management:- Coronation Asset Management offers a comprehensive range of managed funds, providing investors access to diverse asset classes. Our portfolio management services cater to institutional and high-net-worth individuals, delivering bespoke portfolios tailored to specific investment objectives.