German Investors Target Nigeria

Stephen Schwarzman, chairman, chief executive officer and co-founder of Blackstone Group LP, left, and Aliko Dangote, president and chief executive officer of Dangote Group and Africa's wealthiest man, participate in the Bloomberg Philanthropies Google Hangout during the US-Africa Business Forum in Washington, D.C., U.S., on Tuesday, Aug. 5, 2014. Photographer: Drew Angerer/Bloomberg via Getty ImagesStephen Schwarzman, chairman, chief executive officer and co-founder of Blackstone Group LP, left, and Aliko Dangote, president and chief executive officer of Dangote Group and Africa's wealthiest man, participate in the Bloomberg Philanthropies Google Hangout during the US-Africa Business Forum in Washington, D.C., U.S., on Tuesday, Aug. 5, 2014. Photographer: Drew Angerer/Bloomberg via Getty Images

Tropical General Investments Group has started an initiative to support the Nigerian government in its effort to bring more investors to Nigeria. The Group is the holding company of Nigerian companies such as Chi Limited (drinks and snacks) and others.

The Head of New Business Development at TGI Group, Dr. Johannes Flosbach, said this at the German-African Business Forum in Dortmund, Germany when he spoke to over 200 German business leaders highlighting the great opportunities in Nigeria.

He said, “The current macroeconomic difficulty in Nigeria is a huge opportunity. Many import-based business models are coming to an end, but those companies that are committed to local manufacturing are the market leaders of tomorrow. As TGI Group, we invite the German business community to form joint ventures with TGI Group and to invest in local manufacturing.

“German companies bring globally leading technology and efficient processes. TGI Group provides a platform for their operations in Nigeria. Together we want to create ‘German Quality, Made in Nigeria.”

According to a statement from the firm, TGI Group has over 8,000 employees in Nigeria and has embarked on a strong growth strategy to use the current economic situation to significantly enhance its local manufacturing.

It read in part, “This strategy includes the expansion of the production capabilities for juices and snacks under Chi Ltd, the construction of large processing plants for rice and soy beans under WACOT Ltd, and the growth of its fish trawling fleet under ORC Fishing and Food Processing Ltd. Additionally, TGI Group is cooperating with many leading international companies and, for example, serves as a distribution agent for products of Bayer, Merck, Sanofi, Cargill and others.”

Punch

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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