Africa needs reforms to attract investors — EFCC Executive Chairman

The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has called for comprehensive reforms across Africa as a means of reducing investment risks and boosting foreign direct investment on the continent.

Olukoyede made the remarks on Friday at the EBII Group African Leaders and Partners Forum in Washington DC, United States.

His comments were contained in a statement issued on Saturday by EFCC’s Head of Media and Publicity, Dele Oyewale.

According to him, Africa must embrace “broad-based and radical reforms” to become more attractive to global investors.

“De-risking Africa requires us to pay attention to reforms to improve the ease of doing business, respect for the rule of law and human capital development.

“Success in this regard requires strong institutions in view of the challenges that already exist in the agricultural, renewable energy and solid minerals sectors,” he added.

“De-risking Africa requires us to pay attention to reforms to improve the ease of doing business, respect for the rule of law and human capital development.

“Success in this regard requires strong institutions in view of the challenges that already exist in the agricultural, renewable energy and solid minerals sectors,” he added.

He noted that despite its wealth of natural resources and young, tech-savvy population, Africa requires integrated reforms to unlock its full potential.

Olukoyede showcased Nigeria’s anti-graft agency as an example of institutional reform, highlighting its achievements in investigating financial crimes, prosecuting offenders and recovering stolen assets.

He said the commission, in its 22 years of existence, had secured more than 13,000 convictions, including 4,111 in 2024 alone.