Farouk Khailann, CEO of Premium Africa Holdings and Senior Advisor, has delivered a sharp critique of traditional methods used to attract investors to Africa, asserting that these practices are not only costly but increasingly ineffective.
In a recent statement, Khailann highlighted the inefficacy of conventional investment approaches, which often involve lavish spending and large entourages. “The traditional methods of attracting investors have become not only excessively expensive but also increasingly ineffective,” Khailann said. He criticized the practice of presenting oneself with an entourage dressed in expensive suits, noting that this approach does not resonate with high-net-worth investors interested in Africa. “You sit in rooms where the real private, high-appetite-for-Africa investors don’t align with or even bother to show up,” he added.
Khailann also condemned the reliance on government-to-government funding, which he claims often comes with restrictive conditions. He emphasized that genuine private investors are sometimes exploited for personal gain rather than national progress. “Government-to-government funding always comes with strings attached. And when you’re fortunate enough to meet genuine private investors, instead of prioritizing your country, you try to exploit them for personal gains,” he remarked.
According to Khailann, these outdated methods are no longer suitable in today’s competitive investment landscape. He stressed that investors now have a deeper understanding of Africa and its challenges than ever before. “The world has grown smaller, and investors now understand our region and attitude better than we do. The notion that our abundant resources should automatically draw investment is misguided and no longer resonates,” Khailann stated.
Drawing from his observations of successful investment strategies in the UAE, Khailann urged African leaders to adopt a more relational and modern approach. He dismissed the notion that the Middle East’s success is due to its political system, calling for an end to outdated practices. “Politics is no justification for behaving like a pack of wild animals. Our people deserve development and access to basic necessities. Not later but today, now, with every sense of urgency,” he asserted.
Khailann praised Zimbabwe’s President, His Excellency Emmerson Mnangagwa, for adopting an investment approach similar to that of the UAE’s founding father, Sheikh Zayed. He expressed confidence that this approach could lead to significant prosperity for Africa. “Whether by coincidence or strategy, his approach mirrors that of the UAE’s founding father, Sheikh Zayed, in attracting investment. In time, prosperity will be the ultimate judge,” Khailann said.
Reiterating his commitment to Africa, Khailann declared that he and his allies are determined to bring necessary investments to the continent. “With the knowledge I’ve gained, the connections I’ve forged, and my unwavering belief in Africa, there is nothing, I repeat absolutely nothing that will stop me and my allies from bringing the necessary investments to the African continent,” he affirmed.
Khailann concluded by addressing those with short-term expectations and reaffirming his dedication to Africa’s economic growth. “If my passion for Africa and unwavering self-belief bothers you, guess what—I couldn’t care less. My aim isn’t to land on the Forbes rich list; it’s to make my contribution no matter how small toward Africa’s economic growth,” he said.
