Sequel to a visit by a high level government delegation, led by Governor Mohammed Abubakar of Bauchi state, to Hong Kong on investment mission, the Lee Group, a well-diversified conglomerate entity, which operates from a number of African countries and Asia and specialises in the production of steel, footwear and plastic goods is leveraging on the offers made by the Bauchi State Goverment to invest in the state given the investment potentials that exist in the state.
The conglomerate, which has over 35 years in running successful businesses and plans to expand by diversifying into agro-based products and solid minerals in the northeastern Nigeria, especially Bauchi State gave the conglomerate’s willingness to invest in Bauchi state after the Governor’s visit to them in Hong Kong.
The Chairman of Lee Group, speaking through the Director, Mr Lee Mang Loog tuesday stated that the conglomerate wishes to invest in mining solid minerals especially Kaolin, Clay, Quartz, Natural Gas, Iron ore, Hydrocarbon all of which abound in commercial quantity in Bauchi state.
The Group also indicated interest in setting up of factories in Bauchi State for the manufacturing and production of Truck Tyres, Rubber slippers, Ceramic tiles, other ceramic products and Bakery that can generate hundreds of thousands of direct and indirect jobs to the youth in the state.
According to a ress statement signed by the Press Secretary to the state Governor and made available to THISDAY in Bauchi, the governor urged the Group to look into other agro-based investment opportunities such as in the production of Sesame seeds, Soy beans, Poultry and Fishery.
The delegation that centered on deriving foreign direct investment into Agricultural, Mining and Tourism sectors comprised of the commissioner works, housing and land development, Abubakar Tatari Ali, member state house of assembly, director general, Bauchi state investment promotion agency, Muhammad Aminu Musa Kamisu Idi and special adviser/sole administrator, Yankari Game Reserve Engineer Habu Mamman Muhammad.
Others are MD, Bauchi state solid minerals development agency, Muhammad Tahir Isa, GM, Bauchi state agricultural supply company, Kabiru Adamu Sade and members of the business community.
The Governor also led the delegation to key institutions and organiations as well as the famous World Food Expo exhibition with a view to creating a platform for institutional recognition of economic potentials of Bauchi state, one of which was the Hong Kong Trade Development Council, a statutory and nonprofit body established to promote international marketing of Hong Kong-based traders, manufacturers and service providers by organizing trade fairs, business missions and international conferences to connect companies with opportunities in Asia and beyond.
The Governor, in company of the Nigerian Consulate General and his team, Mr. William Chui, Director, International & Mainland Relations and his team, made a sector-based presentation on economic and investment opportunities in Bauchi state ranging from agriculture to solid minerals, tourism as well as Infrastructure.
He also showcased the numerous incentives, reforms on land acquisition law as well as Public Private Partnership policy, all in an effort to ease ways of doing business and sustainable support to investment climate in the State.
At the Hong Kong Tourism Development Company which invited Bauchi state government to take advantage of its trade mission, Foodexpo and its portal to showcase its enormous potentials especially in solid minerals and agriculture, the Governor requested the Hong Kong investors to take advantage of the Bauchi state investment promotion agency being a “One-Stop-Shop on investment processes and establishment for any existing and potential investor”.
The Hong Kong Tourism Development Company pledged to network within it members on the investment opportunities in agriculture and solid mineral in support of the Bauchi state investment drive.
The governor attended the famous World Food Expo exhibition on the invitation of the Hong Kong Tourism Development Company where he invited the Company to attend proposed “Bauchi State Investment Summit” slated for early next year.
He also attended the Africa Chamber of Commerce, a private and non-profit-making organization which remains dedicated to serving members by providing an effective platform for enhancement of trade and investment by moderating between investors and relevant authorities, promoting seminars and trade exhibitions in Africa and Asia, advising on investment and projects, as well as business matching and pitching.
He also showcased the numerous incentives, reforms on land acquisition law as well as PPP policy, all in an effort to ease ways of doing business and sustainable support to investment climate in the core areas of economic and investment opportunities in Bauchi state, especially ranging from agriculture to solid minerals, tourism as well as Infrastructure.
The chairman, Africa Chambers of Commerce, Mr. Mark Chan, who has an investment in Nigeria eco-friendly agrochemicals promised to open up the potentials that exist in Bauchi state to other investors in Hong Kong and mainland China in the area of both agricultural and solid minerals.
Governor Abubakar also had a meeting with a visiting Professor to a number of Universities Dr. Marafa who is a Director Postgraduate Programme in sustainable Tourism in Chinese University of Hong Kong during which discussions dwelt on the tourism sector and key investment needs were detailed out, centering on eco-tourism, Public Private Partnership in operation and management as well as Development of infrastructure in Sumu and Yankari game reserves.
The University don promised to engage the tourism industry captains in Asia and beyond on the investment opportunities in the sector while promising to invite the BASG to Malaysia Tourism Summit coming up next year which he said would be another window of opportunity for Bauchi State Government to showcase its potentials in the tourism sector as well as investment needs
Global Deal Activity Down by 4.5% in October 2020
A total of 6,304 deals were announced globally during October 2020, which is a decrease of 4.5% over the 6,598 deals announced during September, according to GlobalData, a leading data, and analytics company. An analysis of GlobalData’s Financial Deals Database revealed that the deal volume during October remained below the monthly average of Q3 2020.
Aurojyoti Bose, the Lead Analyst at GlobalData, comments: “After demonstrating growth for four consecutive months, the deal volume shrank in October. The decline in deal activity could be attributed to inconsistencies across different regions. The APAC region remained a weak spot, while deal activity remained mostly flat in North America, and the Middle East and Africa (MEA) region witnessed growth in deal activity.”
North America attracted the highest number of investments, followed by APAC, Europe, the MEA, and South, and Central America.
The uncertain global economic landscape lowered the deal volume in October for major markets such as the US, Germany, Australia, France, India, and China compared to the previous month. On the contrary, the UK, Japan, South Korea, and Canada saw growth of 15.6%,14.9%, 3.8%, and 2.2%, respectively, in October as compared to September’s deal volume.
Bose continued: “Most of the deal types witnessed a decline in volume during October compared to the previous month. Private equity, equity offerings, venture financing, debt offerings, and partnership deals volume decreased by a respective 2.4%, 9.1%, 9.8%, 14.6%, and 24.6% – while the deal volume for mergers and acquisitions (M&A) increased by 7.2%.”
Japaul to Invest in Chinese Firm H&H to Deepen Mining and Exploration Business
Japaul Gold & Ventures Plc (Japaul), formerly known as Japaul Oil and Maritime Services Plc, announced it has gotten approval in principle from H&H Mines Limited to invest in or acquire shares in the company once it concluded its fundraising exercise.
According to a statement released through the Nigerian Stock Exchange (NSE), H&H Mines Limited has several licenses, which include two major Mining Leases for 25 years renewable.
The statement noted that extensive exploration has been done on the Mining properties and the last lap of the exploration works is core drilling. This, it said will allow Japaul knows the measured Minerals Reserve contained in the Mine, which it claimed contain Gold, Silver, Lead, Zinc, etc.
Japaul further explained that the need to get the drilling done was what led H&H Mining to engage the services of Xiang Hui International Mining Company Nigeria.
“Since Japaul will eventually be part of H&H Mines Limited, it was necessary that Japaul is carried along on the kind of Contract of Drilling to be entered into, and that was why the signing of the Drilling Contract between the Chinese Company and H&H Mines Limited was concluded at Japaul’s Head Office,” the company stated.
The drilling is expected to be concluded in the next 12 months and within this time, Japaul is expected to have concluded the Fund Raising and formalise her involvement in the Mining.
The company added that Canadian reports revealed that there are huge gold, silver, lead, etc deposits, but it is drilling that will show the actual reserve.
Africa Investment Forum (AIF) Rescheduled to Hold in 2021 – AfDB
Investment Forum to Now Hold in 2021 in a Bid to Curb Possible Second Wave of COVID-19
The Africa Investment Forum scheduled to hold in November 2020 in Johannesburg, South Africa has been rescheduled to hold in2021 as a result of the ongoing global health pandemic.
This announcement was made in a statement by AfDB on Wednesday. The African Development Bank (AfDB) and the Africa Investment Forum founding partners agreed to the postponement of the annual three-day investment market place.
Considering the negative effect of Covid-19 on the global economy, agreement by the two bodies was made after a careful assessment of the impact of COVID-19 on global travels, investments, observing the social distancing rules and curbing the likely possible risk of a second wave.
In the statement, the bank stated that through the forum innovative digital platforms, it would track investments, source for new deals, progress on financial closure of transactions and other existing deals.
“At the 2019 Africa Investment Forum, 57 deals valued at $67.7bn were tabled for discussions. Fifty-two deals worth $40.1bn secured investment interest.
“In July this year, the AIF Founding partners pledged to strengthen strategic partnership engagement and commitments for Africa Investment Forum Market Days 2021, to help ‘reboot investments in Africa.’ They underscored the need to boost local manufacturing while leveraging the continent’s vast resources to unlock investment.”
In the statement, Africa Investment Forum objectives are achieved through the forum’s four pillars; Closing, Connecting, Engaging and Investment Tracking.
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