While Africa is ripe for investment given its young dynamic population, abundant resources, and exciting startups across industries, it’s vital that investment isn’t seen as a given, says Samuel Salako, a leading Nigerian corporate, commercial and M&A lawyer.
“We have to actively work to continue to promote the African story,” says Salako, a partner at Olajide Oyewole LLP, the Nigerian member firm of DLA Piper Africa. “Money flowing into Africa could flow elsewhere. As professionals within the investment ecosystem, we need to ensure that when we are given the opportunity, we do the right things.”
Stakeholders involved in that ecosystem, which has dipped in volume and value since 2022 given global economic conditions, will be gathering next week in Lagos, Nigeria, for “Bold Moves: Powering 10x in Africa”, the 21st annual AVCA Conference and VC Summit.
AVCA 2025 will provide attendees with key strategic insights into foreign investment opportunities across Africa, says Salako, thanks to 100+ high-profile speakers, including fellow DLA Piper Africa, Nigeria partner Solape Peters, “whose insights will be particularly relevant for investors seeking to navigate Nigeria’s complex finance and projects landscape”.
The conference is also a collaborative space for deal-making, and serves as a catalyst for building long-term alliances between African and international businesses, investors, fund managers, and DFIs. “This is a great networking opportunity for people looking for funding, looking for something to fund, and who to fund,” says Salako, who is excited for attendees to learn more about a misunderstood nation that leads Africa in private equity deals.
“Stakeholders can come in and feel the energy of Lagos, see why there’s such a thriving startup and entrepreneurial system within Nigeria,” he adds. “It’s an opportunity to meet and interface with colleagues, investors, and regulators, and also possibly see investment opportunities you typically may not if you were looking from the outside.”
Global economic conditions have put the brakes on investment activity worldwide, notes Salako, and Africa is not immune. There has been a significant drop from record highs of 2021-2022, particularly for large-scale investments ($50 million+ in value), with investors showing “a preference for smaller commitments amid global economic headwinds”.
Foreign exchange volatility, regulatory uncertainty, transparency gaps, and governance issues can exacerbate challenges for private investment into Nigeria and Africa, says Salako, though he believes that overall they’re outweighed by great opportunities in the region.
“As developing economies there’s a lot of opportunity for people to solve practical day-to-day problems you don’t find elsewhere,” he says. “With the knowledge economy, people are now innovating and finding solutions, and then these solutions become businesses.”
What happens in Africa will eventually impact the world, as part of the global village, says Salako, who has worked on many multinational investment projects with DLA Piper colleagues. Regulators, investors, and founders all need to step up and work together.
“Across the continent, regulators could be more helpful by clarifying regulations and regulating in a way that promotes investment in new areas,” says Salako. “Investors can view things more holistically, not just putting in money and waiting on returns, but helping establish good governance in the entities they invest in. Founders can get training on governance and business, and need to understand that innovating and running a business are two different things. You need to get both right to have a successful business.”
Together, the story of Africa will grow, and thrive.