What's Going On? Eyes on Africa and the Caribbean
"What’s Going On? Eyes on Africa and the Caribbean" brings a biweekly conversation with people who know and work extensively and at the ground level in African and/or the Caribbean to the people of the African diaspora to keep us connected to the events and the places we love and left behind. Join us as we follow social and economic development issues in and around Africa and the Caribbean, including issues about youth, health, education, business, and emerging entrepreneurs. "What’s Going On? Eyes on Africa and the Caribbean" wants you to stay connected to the people and places that you love. Podcast cover photo by Etty Fidele on Unsplash
What's Going On? Eyes on Africa and the Caribbean
"The time has come to invest in different parts of Africa," Says New York City Pension Fund Trustee, Gregory Floyd
•
Moronke Oshin-Martin & Grace Oshin
•
Episode 29
In 2015, The New York State Common Retirement Fund, one of the largest US Pension Funds began investing in Africa-- with plans to invest as much as 3% of its assets on projects on the continent in the next five years to diversify its portfolio and boost returns. The New York City Employees Retirement System (NYCERS) may be following suit, according to Gregory Floyd, president of the International Brotherhood of Teamsters Local 237 union and a NYCERS trustee.
In this episode, Floyd discusses NYCERS’ investment possibilities in Africa and why he is committed to making it happen.
- Two years ago, the National Association of Securities Professionals (NASP) and USAID signed an investment partnership for “Mobilizing Institutional Investors to Develop Africa’s Infrastructure” or “MiDA.” The initiative seeks to facilitate and expand opportunities for infrastructure investments in Sub-Saharan Africa for investors seeking higher returns while making an impact on development and advancing U.S. interests in the region (https://nasphq.org/africa-initiative/)
- Floyd was among the U.S. delegation that participated in one of the first USAID/NASP-sponsored trips to Africa to discuss investment opportunities with Asset Managers, financial and banking professionals, and high-ranking government ministers in several African countries.
- The US delegation included fund trustees from Maryland, California, Virginia, New York, and Philadelphia, as well as a cross-section of business leaders and investors.
- NASP is the premier organization that helps Blacks, ethnic minorities, and women achieve inclusion in the financial services industry.
- Floyd stated: "Hopefully we can find a fund in Africa in one or two countries that we can invest in that will bring both good returns to our funds and also help Africa, whether it's in South Africa, Kenya Senegal, one of these regions, maybe even Nigeria.”
