English version | Version Française
  ISSUE No. 63
Nigeria Week organised at the Africa Centre of Excellence

With a view to synergizing efforts towards developing and disseminating country knowledge, the Africa Centre of Excellence (ACE) organises a Country Week on a periodic basis. This initiative is in line with its strategic objectives to provide enhanced services to investors and showcase business opportunities in Africa.

Further to last year’s success of this event, ACE organized its first 2014 Country Week from 17 to 21 March 2014, targeting one of the super powers of the African continent, Nigeria.

According to research conducted by economic experts such as E&Y, Nigeria is considered as the investment mammoth of the Continent. The country is ranked as one of the fastest growing economies in the world, with an expected GDP growth of 7.4% in 2014 and FDI flows growing at a compounded rate of 5.4% from 2003. With the creation of the One-Stop Investment Centre (OSIC), the economy is also endowed with an improved environment for doing business.

The Director of Inward and Outward Operations of the Nigeria Investment Promotion Commission (NIPC), Mr. Mohammed Zubairu was present on this occasion to showcase business opportunities in various sectors including Oil & Gas, Infrastructure, Agribusiness, ICT, Healthcare, Financial Services, Mining and Manufacturing, amongst others. This event gave further visibility on the investment climate prevailing in Nigeria.

The Nigeria Country Week also gave ACE the opportunity to create greater awareness on its activities, thereby strengthening its working relationship with the Nigerian Investment Promotion Agency with regard to investment facilitation and the sharing of information for potential Mauritian and international investors.

One-to-one meetings were held at ACE with some 40 Mauritian private companies seeking to tap the Nigerian market. The portfolio of companies was predominantly represented by Management Companies, Manufacturing, Agribusiness and ICT Companies. This was a demonstration of the dynamism of a fast-growing Mauritian private sector and their determination to expand their market base on the African continent.

Furthermore, a breakfast meeting was organised at the Board of Investment on 19 March 2014. The objective of the meeting was again to elaborate on the business opportunities in Nigeria. It was a very effective means of networking since it provided opportunity for NIPC to have a great exposure to various companies and captains of the Mauritian industry. It enabled the attendees to have an in-depth view of the various investment opportunities, incentives for investment, challenges and the long-term strategy for the economic development of Nigeria.

The feedback from this event has been a great encouragement for the Africa Centre of Excellence, especially regarding the pertinence of its strategy to position Mauritius as the platform for doing business in Africa.

This event is a clear milestone indicating the stance of ACE in relation to its African counterparts. Going forward, NIPC has proposed to formalize this relationship with the signing of an MoU with BOI. As one of its clauses, it has been suggested to include visa facilitation for Mauritian investors visiting Nigeria to explore investment opportunities.

With the close collaboration of NIPC, ACE will continue to closely monitor project developments in NIPC. An investment prospection mission to Nigeria is scheduled early in the second quarter of this year.

Return to Cover page  »