Lagos - Former President Olusegun Obasanjo on Thursday said that more investment in business would serve as insurance against unemployment and poverty in Africa.
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Obasanjo made the observation while speaking at the 3rd Economic Community of West African States (ECOWAS) Investment Forum in Lagos.
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He spoke on the forum's theme: The African Opportunity: Spotlight on West Africa.
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Obasanjo said that insecurity, corruption, inadequate infrastructure and lack regional economic integration were the bane of investment in businesses in many African countries.
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According to Obasanjo, investors will hesitate to set up businesses in a region that offers no sign of good returns on their investments.
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"Investors can be very choosy about where they go.
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"They are usually reluctant to go where there are no signs for future growth.
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"Selecting an area to invest calls for lots of intelligence, great knowledge and mission," he said.