PR Expert, Ike Neliaku Highlights Africa’s Economic Potential at Israel.Leadership Summit
A renowned Public Relations expert, Dr. Ike Neliaku said that Africa’s business ecosystem has the potential to fast-track9 sustainable development globally.
Dr. Neliaku, a fellow of the Nigerian Institute of Public Relations (NIPR) spoke while addressing investors at the Africa Leadership Summit (ALS) 2023 in Isreal.
His presentation, titled “Unlocking Africa’s Potential through Business and Entrepreneurship: A Path to Sustainable Economic Growth and Development,” offered a comprehensive exploration of the continent’s promising future.
Neliaku, the Chairman, Rightangle PR, and Executive Secretary, of Nigerian Price for Leadership, in his engaging discourse, emphasized Africa’s
huge blessings which serve as a target for consumer markets, projecting that it is poised to outpace global economic growth within the next two years.
He said with the real gross domestic product (GDP) at an average of 4% in 2023 and 2024, the growth will be fueled by elements of urbanization, infrastructure creation, elevated FDI, and a widening middle class with augmented consumption potential.
That expansion, he said will be “fueled by Africa’s rich natural resource deposits which include minerals, oil, gas, and agricultural outputs”.
He, however, acknowledged the developmental challenges that persist, while emphasizing the existence of numerous untapped and underserved markets across the African landscape.
“This means that there is significant potential for businesses to enter and establish themselves in these markets. For instance, Africa has witnessed a digital revolution in recent years. The rapid adoption of mobile technology and artificial intelligence has created new opportunities for businesses, particularly in the fintech and e-commerce sectors such as Paystack, Flutterwave, Piggy Vest, e.t.c”
Neliaku who is also a presidential candidate in the upcoming 2023 NIPR Governing Council election later this month said, the African consumer market is expected to grow by $1.4 trillion by 2025 with Companies in the continent’s revenue skyrocketing to over $1 Billion .
He highlighted the roles of entrepreneurship in Africa’s development as the Real Drivers for Economic Growth on Job Creation, facilitating innovative technology, infrastructure development, and commercialization of the agricultural sector among others.
He emphasized that unlocking Africa’s potential requires a holistic approach that involves government engagement, private sector players, investors, and local communities.
“It underscores the importance of creating an enabling environment, promoting innovation, and leveraging existing success stories to inspire and empower future generations of African entrepreneurs.
“With the right strategies and concerted efforts, Africa can undoubtedly become a global economic powerhouse, contributing to the well-being of its people and the prosperity of the world at large.
“Good and great people, with fear of God and interest of humanity, should get involved in leadership at whatever level they can hold an anchor and start to rise from there”, he said.
He commended the organiser and the leadership of ‘Africa Leadership Summit’ for its effort over the years to consistently in nurturing a platform that advocates for the emergence of exceptional Leaders across Africa.
