Nume Ekeghe
Rand Merchant Bank Nigeria (RMB Nigeria) has emphasised the need for long-term financing, infrastructure investment and stronger regional collaboration to accelerate industrialisation and build competitive industries across West Africa.
The bank made this known at its sponsored interactive session at the 32nd Nigerian Economic Summit (NES #32), recently under the Summit’s Rising Together Initiative.
Speaking during the session, Yetunde Ogunremi, Executive Director and Treasurer, Rand Merchant Bank Nigeria, said financing institutions had an important role to play in supporting the development of competitive regional industries.
“Africa’s opportunity lies not just in trading more, but in producing more and creating greater value within the continent. This requires long-term capital, innovative financing and strong partnerships to build competitive industries and regional supply chains. At RMB Nigeria, we are committed to supporting businesses with the financial solutions they need to turn regional integration into sustainable economic growth.”
Opening remarks were delivered by Ambassador Sola Enikanolaiye, Nigeria’s Minister of State for Foreign Affairs, while Dehpue Yenpea Zuo, ECOWAS Commissioner for Economic Affairs and Agriculture, delivered a goodwill address on behalf of H.E. Dr. Omar Alieu Touray, President of the ECOWAS Commission.
The panel discussion was moderated by Nicholas Norbrook, Managing Editor of The Africa Report, with Cecilia Akintomide, Chairperson of the UN Sanitation and Hygiene Fund, providing technical contributions.
Other panellists included Kelvin Banda, Principal Economist at the African Development Bank Group; Lillian Kidane, Africa Director at Dalberg; Banji Fehintola, Executive Director at the Africa Finance Corporation; Oluwole Dada, General Manager of SecureID Limited; and Ogunremi.
A major issue highlighted during the discussion was the gap between regional trade ambitions and the productive capacity required to translate market access into industrial growth.