Rene Awambeng, Founder and Managing Partner of Premier Invest has advocated for a strategic allocation of resources across Africa to effectively tackle the continent’s developmental hurdles.
He suggested that these streamlined resources could be directed towards development institutions, enabling them to collaborate with international partners to address Africa’s developmental issues.
Mr Awambeng was discussing the role of financial institutions in unlocking capital in a conversation with Bernard Avle on Point of View on Channel One TV.
“We need to rationalise our resources and funnel them to those development institutions so that they can leverage with international partners and to be able to support the development challenges on the continent,” he stated.
He also expressed a potentially controversial opinion, stating that there are too many institutions attempting to do the same thing but failing to do so efficiently.
He called for a rationalisation to achieve efficiency and economies of scale.
“I think that, and this may be controversial there are too many institutions doing the same thing but not doing it efficiently. There needs to be some rationalisation to gain efficiency and economies of scale,” he stated.
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