Alumni members of the Lagos Business School (LBS) convened at the recent LBS Alumni Day conference to delve into the significant role of national corporations in propelling business and investment to foster economic growth across African economies.
Themed ‘African Economic Development: Cross-National Corporations as Enablers,’ the conference facilitated in-depth discussions among industry leaders, association heads, and executives on strategies to drive Africa’s economic revitalization.
A panel discussion, moderated by Mojisola Akinkunmi, Executive Director of Terra Energy Services, addressed the challenges facing the continent while advocating for proactive solutions and the pivotal role of corporations in driving economic progress.
Obi Asika, Chairman of Outhere Media, emphasized the importance of Africans shaping their own narrative and leveraging their assets to reshape global perceptions of the continent. This sentiment was echoed by Olawale Rotimi Opeyemi, CEO of JRFarms Africa, who stressed the necessity for deliberate and bold actions among African corporations to unlock the continent’s potential.
“Africa needs business, not aid,” asserted Opeyemi.
Albert Van Rensburg, MD of Maersk Nigeria, emphasized the importance of collaboration with stakeholders such as farmers to drive sustainable change and improve livelihoods. The discussion also touched on critical sectors like healthcare, with Claire Omatseye, CEO of JNC International Ltd, highlighting the importance of strategic partnerships to create an enabling environment for the healthcare industry.
The panelists emphasized that education, infrastructure, and job creation are vital drivers for achieving the United Nations’ Sustainable Development Goal 1 – Ending Poverty. They concluded by underlining the necessity for cross-national corporations to play a proactive role in Africa’s economic rejuvenation through collaboration, bold initiatives, and targeted investments across key sectors including agriculture, logistics, healthcare, and infrastructure.