EFCC Chair Urges Sweeping Reforms to Cut Investment Risks in Africa
EFCC Chair Urges Sweeping Reforms to Cut Investment Risks in Africa
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called for bold reforms across Africa to reduce investment risks and unlock the continent’s vast economic potential.
Mr Olukoyede made the appeal on Friday while speaking at the EBII Group African Leaders & Partners Forum in Washington D.C., United States. He stressed that Africa could only achieve sustainable economic growth if governments take deliberate steps to strengthen institutions, promote transparency, and ensure the rule of law.
According to him, foreign direct investment (FDI) into Africa continues to lag behind other regions despite the continent’s abundant natural and human resources, largely due to governance challenges, corruption, and weak regulatory systems.
“Investors will not bring their capital to environments where the rules are unclear, institutions are weak, and the ease of doing business is poor. For Africa to thrive, we must build trust by tackling corruption, improving regulatory frameworks, and ensuring the protection of investments,” Mr Olukoyede said.
The EFCC boss noted that reforms in areas such as anti-corruption enforcement, judicial efficiency, and corporate governance are essential to boosting investor confidence.
He added that with the right measures in place, Africa could harness its demographic advantage and abundant resources to become a leading destination for global investment.
The EBII Forum brought together African leaders, policymakers, and global partners to deliberate on strategies for advancing inclusive growth and sustainable development on the continent.
