Shettima at Davos: Africa is now a prime investment destination
Vice-President Kashim Shettima has highlighted the vast investment opportunities available in Nigeria and across Africa, urging investors to take advantage of the continent’s growing business climate.
Shettima made these remarks on Tuesday during a session titled “Roadmap to Co-create Investment Opportunities for Africa’s Frontier Markets” at the 2025 World Economic Forum (WEF) in Davos, Switzerland.
The session was co-chaired by Mirek Dusek, Managing Director of the World Economic Forum, and Marie-Laure Akin Olugbade, Senior Vice President of the African Development Bank (AFDB). The discussions centered on the Humanitarian and Resilience Investing Roadmap for Africa.
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The Vice President reassured attendees that the negative portrayals of Nigeria and Africa often pushed by critics are far from the reality. He emphasized that Nigeria is poised for modernisation and robust investment, with President Bola Ahmed Tinubu actively working to position the country as a leading investment hub in Africa.
Shettima, drawing from his own experience in the Nigerian banking sector, particularly as a former general manager at Zenith Bank, expressed confidence that Nigeria is ready for business. He noted that President Tinubu, a seasoned chartered accountant, is committed to transforming the nation into a destination for global investment.
While acknowledging Nigeria’s challenges, Shettima pointed to the African Continental Free Trade Area (AfCFTA) as a key mechanism to address these issues. He outlined several significant infrastructure projects, including the coastal highway from Calabar to Lagos, which he described as the largest single investment in Africa, as well as the West African gas pipeline and a collaborative gas infrastructure project involving 14 African countries extending to Morocco.
Shettima insisted that Africa is far from the doom and gloom narrative often presented, stating that the continent is awakening and taking its rightful place in the global economy.
He compared Africa’s rise to Napoleon Bonaparte’s description of China as a “sleeping giant” ready to shake the world. Shettima affirmed that Africa, with its youthful population, is the future of global growth.
Additionally, Vice President Shettima and President Duma Boko of Botswana held a bilateral meeting to discuss areas of mutual interest between their countries.
This meeting, which took place on the sidelines of the WEF, underscores Nigeria’s commitment to strengthening intra-African relations and enhancing economic cooperation.
During the meeting, Shettima also introduced Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation, to President Boko, praising her as one of Africa’s finest leaders.
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