Adewale Sanyaolu

The success of LADOL has proven the efficacy of the United Nations Sustainable Development Goals (SDGs), as a framework for the development of the new economy businesses and for maximising local content in low-income high growth countries.
Managing Director of Lagos Deep Offshore Logistic Base, LADOL, Dr. Amy Jadesimi, who made the disclosure at the OECD Africa Forum, explained that countries like Nigeria are full of untapped, easily addressable business opportunities where new economy businesses can create low cost and high return businesses through innovation and value-added solutions for the local market.
She noted that the companies of the future and those that will be the most profitable companies are those that are sustainable, adding that companies that fail to embrace sustainability may soon become unviable.
She cautioned that the road to sustainable industrialisation for Africa will be a long one but that it will inevitably lead to peace and prosperity for the continent and the world.
‘‘The first step is great international support from governments and investors for indigenous private companies across the continent – because these are the companies that will create jobs. Over time, organisations such as LADOL, which may start out supporting commodity-focused industries will diversify and expand, becoming increasingly sustainable until we reach net zero’’.
Jadesimi also urged Western countries to better regulate the actions of their companies and institutions in Africa – where many multinationals have been proven to instigate, promote and participate in practices that cause harm to the economies and the citizens in countries across Africa.
“In as much as we recognise that the regulatory environment across Africa needs to improve, we should not continue to have conversations about regulation in Africa unless we also discuss how wealthier countries can better use their own laws and regulations to police the activities of their companies and representatives in Africa,” she said.
In addition, she reiterated that financial regulation is long overdue stating that “we know that there are trillions of dollars currently invested in negative or low yielding assets in only ten financial markets across the world.
“The world needs new financial regulations, which encourage investment into real businesses over long-time horizons and discourages unstable, short-term wealth creation through trading and complex financial instruments that no longer relate to the real performance of the underlying companies or assets.
Such a regulatory framework would drive investment to Africa – which has both the youngest and the most locally underserved population.

 

Related News