{"id":64366,"date":"2018-11-10T10:01:29","date_gmt":"2018-11-10T09:01:29","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=64366"},"modified":"2018-11-10T10:01:29","modified_gmt":"2018-11-10T09:01:29","slug":"if-local-investors-are-burnt-foreign-investors-are-scared-away-tony-elumelu","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/if-local-investors-are-burnt-foreign-investors-are-scared-away-tony-elumelu\/","title":{"rendered":"If Local Investors Are Burnt, Foreign Investors Are Scared Away-Tony Elumelu"},"content":{"rendered":"<div dir=\"ltr\">Chairman of Heirs Holdings, Mr. Tony Elumelu, says if local investors are<\/div>\n<div dir=\"ltr\">burnt in business, foreign investors would not come in to invest.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Speaking on the second presidential panel at the just concluded Africa<\/div>\n<div dir=\"ltr\">Investment Forum (AIF) on Thursday, Elumelu said no amount of roadshows<\/div>\n<div dir=\"ltr\">will make foreign investors come if local ones are failing.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cIf you look at the power sector, you see some countries who want to be<\/div>\n<div dir=\"ltr\">serious about power, realising that access to electricity is important,\u201d<\/div>\n<div dir=\"ltr\">Elumelu said.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cBut then, people going into the power sector are burnt. If they are<\/div>\n<div dir=\"ltr\">burnt, other investors are watching, there is no amount of investors road<\/div>\n<div dir=\"ltr\">show you would do that would encourage them to come in.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cWhen people see successes, others follow.\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Speaking about the conference, the billionaire said, \u201cthere is so much<\/div>\n<div dir=\"ltr\">private global capital looking for destination, but they go to where they<\/div>\n<div dir=\"ltr\">are welcome\u201d.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cIf there is one lesson we need to take away from this, in my viewpoint,<\/div>\n<div dir=\"ltr\">is [that] we are going to sign deals, but beyond signing deals, we should<\/div>\n<div dir=\"ltr\">make sure that those deals work,\u201d Elumelu added.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cSo one thing we need to take away is that we go back and reform our<\/div>\n<div dir=\"ltr\">country and economies, because there is indeed so much capital looking for<\/div>\n<div dir=\"ltr\">the right places to go to.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cIn talking about plans and investments, I often ask myself, I\u2019m not in<\/div>\n<div dir=\"ltr\">the public sector but as a private sector person, there are two things we<\/div>\n<div dir=\"ltr\">do and we do very well, first is ability to articulate great plans, but<\/div>\n<div dir=\"ltr\">more importantly executing great plans.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cOne of the presidents spoke earlier and said private sector and public<\/div>\n<div dir=\"ltr\">sectors are not in competition, we should work together, we should develop<\/div>\n<div dir=\"ltr\">policies consistently.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cTalk of unemployment, government on its own cannot create employment,<\/div>\n<div dir=\"ltr\">government needs to facilitate economic agents that can create<\/div>\n<div dir=\"ltr\">employment\u201d.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Elumelu, who is also the chairman of the United Bank of Africa, says his<\/div>\n<div dir=\"ltr\">businesses will be investing in Angola following policy change in the<\/div>\n<div dir=\"ltr\">country.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Chairman of Heirs Holdings, Mr. Tony Elumelu, says if local investors are burnt in business, foreign investors would not come in to invest. Speaking on the second presidential panel at&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":64367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-64366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>If Local Investors Are Burnt, Foreign Investors Are Scared Away-Tony Elumelu - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/if-local-investors-are-burnt-foreign-investors-are-scared-away-tony-elumelu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If Local Investors Are Burnt, Foreign Investors Are Scared Away-Tony Elumelu - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Chairman of Heirs Holdings, Mr. Tony Elumelu, says if local investors are burnt in business, foreign investors would not come in to invest. 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