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
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
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.