The African Private Capital Association (AVCA) has called on investors to increase capital deployment in Nigeria to accelerate the country’s economic recovery and unlock growth in key sectors. This appeal was made on Monday during the 21st Annual AVCA Conference, held in Lagos.
With the theme “Bold Moves: Powering 10x in Africa,” the conference brought together top executives from leading investment firms to evaluate the current economic climate and share strategies for identifying promising investment opportunities on the continent.
Speaking at the event, Kola Aina, Founding Partner at Ventures Platform, described Lagos as the nerve centre of Africa’s startup ecosystem. He urged local investors to act decisively in funding sectors that could benefit from Nigeria’s economic rebound.
“Lagos is more than a hub for innovation — it is a beacon for capital inflows in Africa. Now is the time for Nigerian investors to step up and take bold investment actions that can yield significant returns,” Aina said.
Olusola Lawson, Co-Managing Director at African Infrastructure Investment Managers (AIIM), highlighted the importance of long-term investment in sectors like energy, telecommunications, logistics, and infrastructure. He shared that AIIM manages a $3.2 billion infrastructure portfolio and remains committed to Nigeria despite economic headwinds.
Danladi Verheijen, Managing Partner at Verod Capital, underscored the transformative role of private equity in sectors such as technology and consumer goods. He noted that while Nigeria faces structural challenges, it remains fertile ground for long-term capital and innovation.
Similarly, Andrew Alli, Non-Executive Director at British International Investment, reaffirmed the institution’s confidence in Nigeria. “We’ve invested over $700 million in Nigeria across key sectors like infrastructure, agribusiness, and financial services. The country still holds tremendous potential,” he said, encouraging investors not to be discouraged by recent economic volatility.
Genevieve Sangudi, Partner at Alterra Capital Partners, pointed to emerging areas like artificial intelligence (AI) as the future of resilient investing in Nigeria. She emphasized the need to support technological growth through climate-conscious infrastructure development, including data centres and sustainable telecom facilities.
Another highlight of the conference was a panel discussion on AI adoption in Africa, with Nigeria emerging as a front-runner. Investors explored the opportunities and infrastructure needs of this fast-growing sector, including cloud capacity, data security, and energy-efficient technology.
While investors acknowledged ongoing concerns around liquidity and secondary exits, especially in relation to zombie assets, the general sentiment remained optimistic. The consensus was that Nigeria’s economic recovery presents a rare chance to make bold capital moves, especially in high-growth sectors.
In a notable development, AVCA and the Private Equity and Venture Capital Association of Nigeria (PEVCA) announced a strategic merger. The alliance aims to deepen Nigeria’s private capital ecosystem by combining AVCA’s global network with PEVCA’s local expertise. The move is expected to unlock fresh investment channels and promote broader sub-regional and continental integration.
According to data shared by AVCA, Africa attracted $3.6 billion in venture capital funding in 2024, of which $1 billion came from venture debt — a testament to the continent’s growing appeal to global investors.
