Gupta: Africa needs to use its capital for development

Sanjeev Gupta, Africa Finance Corporation’s Executive Director for Financial Services, recently emphasized the crucial role that capital plays in Africa's development. In an exclusive interview with CNBC Africa, Gupta expressed the importance of utilizing African capital within the continent to drive growth and prosperity. Gupta highlighted the need for Africa to attract and retain its capital to foster industrialization, infrastructure development, and job creation. The Africa Finance Corporation's annual stakeholder meeting serves as a platform for engaging with investors, members, clients, and partners to discuss strategies, results, and key issues facing the region. Gupta noted that the institution's growth and partnerships have expanded its reach, enabling it to mobilize global capital for impactful projects. Reflecting on the organization's success, Gupta underscored the significance of demonstrating tangible outcomes that validate the strategic initiatives implemented over the years. The theme of attracting and retaining African capital emerged as a focal point for the event, emphasizing the imperative of creating a conducive environment to encourage domestic investment. Gupta's insights shed light on the transformative potential of leveraging Africa's own resources for sustainable development and economic growth.