EnterpriseNGR to position Lagos as African financial services hub

EnterpriseNGR and Lagos State government are set to showcase thriving business ecosystem in Nigeria and the state at the Lord Mayor’s Show in London, the United Kingdom, with a view to increase investment inflow.

The 695th Lord Mayor, Prof. Michael Mainelli, extended an exclusive invitation to EnterpriseNGR and Lagos State to the event, which marks the inaugural participation of an African city since the event’s inception in 1215.

This was disclosed at EnterpriseNGR quarterly members’ night dinner, where top executives from member organisations and prospects highlighted the group’s growth, milestones and partnerships in two years.

The group, representing Nigeria’s Financial and Professional Services (FPS) Sector, in a statement by its Head, Corporate Services, Oluwole-Akinwale, Uchechi, stated that one of its milestones is the partnership with Lagos State Government and their joint participation as the first African city to be featured in the Lord Mayor’s Show in London.

The group listed others to include, becoming a member of the World Alliance of International Financial Centres (WAIFC), the Youth of Enterprise (YOE) Internship Programme and the yearly State of Enterprise (SOE) Report, which analyses all nine sub-sectors of the FPS sector such as banking, insurance, capital markets, asset management, pension, non-interest finance, fintech and sustainable finance.

The group also noted that the collaboration with TheCityUK, an industry-led body representing the UK-based Financial and Professional Services (FPS) sector, has been instrumental in emulating best practices and leveraging London’s global financial centre expertise.

The group further noted that EnterpriseNGR is actively collaborating with other African members such as Morocco, Rwanda, and Mauritius to establish an African chapter aimed at raising the profile of Africa’s FPS sector.

The Chairman of EnterpriseNGR’s board of directors, Mr. Aigboje Aig-Imoukhuede, emphasised the significance of public-private partnerships in realising the organisation’s objectives of positioning Nigeria as Africa’s premier financial hub.

He noted that Nigeria, with the concerted efforts of Lagos State and EnterpriseNGR, along with its members, possesses a robust opportunity to become the gateway for significant investments in Africa.

Aig-Imoukhuede further reiterated that EnterpriseNGR has meticulously examined the strategies employed by nations in Asia, Europe, and the Middle East that have excelled in attracting massive investments and developing their cities into premier financial destinations.

He said showcasing Lagos at the grand procession and related high profile events at the Lord Mayor’s Show, UK, provides an excellent opportunity for EnterpriseNGR and Lagos State to gain the necessary positive global attention, engage with investors and demonstrate the state’s commitment to becoming an international financial centre.

The Chief Executive Officer of EnterpriseNGR, Obi Ibekwe, highlighted the group’s remarkable achievements in the last two years.

She said these achievements include uniting the voice of the FPS sector by growing the membership of EnterpriseNGR from seven founding members to 23 members across all membership categories.

Ibekwe also noted the successful implementation of the Youth of Enterprise (YOE) Internship Programme, which equips young graduates with employability skills and offers valuable workplace experience with member organisations and other partnering organisations.

She said by the end of 2023, nearly 1,000 youths would have been trained and placed in high value internship positions in the FPS sector, with many being retained by the organisations they interned with.

The Deputy Managing Partner at Templars, Chike Obianwu, emphasised the significance of Templars becoming a member of EnterpriseNGR, adding that the law firm aims to speak with one voice, influence policies for the advancement of the private sector, and contribute to capacity building among the youths, thereby expanding their market reach across various sectors in the economy.