Founder/Chairman of Zenith Bank, Mr. Jim Ovia has expressed optimism for more investments in the Nigerian economy. This is coming few days ahead of the second-quarter earnings season with investors keen on expected future earnings as a guide to positioning for investments in the Nigerian market. According to him, Nigeria is almost a virgin land, waiting for tremendous opportunities of investments in different sectors of the economy like banking, agriculture, and manufacturing, amongst others.
Citing Zenith Bank as an example. Mr. Ovia added that Zenith Bank, which started with a $4 million investment, has grown to $16 billion, recording thousands of percentage increase.
He made this statement during an interview with CNN Marketplace, where he addressed investors and entrepreneurs alike, stating that about 30 years ago, investments in Nigeria that could metamorphose to over 2000% growth were not prevalent. Yet today, the country is brimming with businesses and startups that possess exponential scalability and more bubbling capabilities. He advised that investors should look out for promising sectors, consider larger investments and remain committed to growth.
Watch full interview below…