German Investors Target Nigeria

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