‘Why Nigerian businessmen can’t access funds in US’American Politics, Headlines Sunday, July 1st, 2012
The Director, Center for Global Entrepreneurship and Sustainable Development, in Indiana University, United States, Professor Bessie House-Soremekun, has given reasons for the inability of Nigerian and African businessmen to access the massive funds lying idle in the business sector in America.
House-Soremekun said the dearth of partners that could be trusted by American businessmen had made it impossible for African businesses to access the idle funds waiting to be invested in the country and continent.
The university don disclosed this while delivering a lecture entitled, “African American Entrepreneurship through History: Implications for Africa,” at the Center for Internationalisation and Partnership of the Federal University of Agriculture, Abeokuta on Friday.
According to her, massive funds meant for investment in African were currently lying fallow and untouched in the US business sector, but “the funds cannot be invested because their owners cannot access people of integrity here to trust with their monies.”
She therefore, stressed the importance of integrity and building of personal long-lasting relationship as a means of becoming successful entrepreneurs.
House-Soremekun also said investment in infrastructure would create more wealth and minimize poverty in developing economies.
The professor of International Studies who has also done extensive research in micro and macro economies, tasked researchers and research institutions in the country, “not to research for research sake but to solve myriad of problems in the public glare.”
The Chairman of the occasion, the Alake of Egbaland, Oba Adedotun Aremu Gbadebo, said it had become imperative for Nigerians to embrace vocational skills acquisition.
Gbadebo tasked inventors and entrepreneurs to ensure high quality products in order to ensure competitiveness in the global market.
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