DataPro: Multisectoral Collaboration Key to Infrastructural Development

Oluchi Chibuzor

Stakeholders in the credit rating and capital market sector have unanimously agreed that enhanced collaboration among players is essential for infrastructural development and economic growth.

They stated this at the 2022 Annual International Credit Rating Webinar hosted by credit rating firm, DataPro. Themed, “Boosting Infrastructure Development Through Pension Funds’ Investments: The Role of Credit Rating Agencies,” the event gathered global players in the sectors to deliberate on strategies for the utilization of Pension Funds for economic development.

The Managing Director of DataPro, Abimbola Adeseyoju, in his welcome address, remarked that the event is a continuation of the Company’s collective efforts at promoting the value proposition of the Credit Rating Industry as an unbiased and efficient way of allocating financial resources within the capital market which ultimately will result to economic growth and national prosperity.

Italian risk management expert and Scientific Director at FinTech & Insurtech Observatory, Professor Marco Giorgino, in his keynote address, posited that FinTech is a powerful driver of innovation in the financial services market, but innovation strategies cannot be improved without cooperation; hence, the need for partnership and collaboration that will unlock needed funds.

He also called on Credit Rating Agencies to embrace digital technology such as big data and machine learning to properly assess risk. 

Prof.Giorgino

maintained: “Without incorporation with technology providers and digital companies in fields like big data, machine learning, artificial intelligence and the likes, it will be very difficult to be competitive and to integrate without embracing these innovative factors”.

On his part, the Managing Director of Afrinvest Capital Limited, Suru Daniels, quipped that the pension fund in infrastructure was not enough while stating that there is a significant scope to widen the pension funds available for infrastructural development. He further noted that the way to go about it to guarantee security of principal and return is to ensure that instruments are properly rated, structured and sold to knowledgeable investors. In his Goodwill message, the Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda who was represented by Ibrahim Boye, Executive Commissioner, Corporate Services, commended DataPro Limited for coming up with such a program aimed at addressing the factors responsible for Nigeria’s stunted growth in terms of infrastructural development gaps.