Sub-Sahara Mining & Industrial Journal
Industrial News

Africa targets becoming next industrial hub

Ghana is already planning to become the next African Industrial Hub with the Government’s plan of ‘One District, One Factory’. This statement was made by the CEO of Ghana’s EXIM Bank, Lawrence Agyinsam at a summit Organized by the Gulf Business Forum in partnership with the Foreign Investment Network (FIN).

The summit which was held under the theme “Connecting Entrepreneurs and Facilitating, Investment, Business Growth Network & Trade between the UAE, Asia & Africa” had industry players and business owners from all over the world.

According to the Ghana Exim Bank Boss, he believes that Africa can be self-sufficient with the right Foreign Direct Investment thus halting the habit of relying on foreign aid. He noted that his bank has invested in Ghana to the tune of $300 million in the pharmaceutical, cocoa, and garments industry. He said his bank would support further investments in the Gold refining business so as to add value to the raw materials before exportation.

Also at the summit, The Acting CEO of the Nigerian Investment Promotion Company (NIPC), Mr. Emeka Offor stated that Nigeria is filled with tremendous opportunities in its business terrain.

“Nigeria is a land of opportunities and the government is ensuring these are tapped into.

“The Nigerian government has set up a Presidential Enabling Business Council to see to reforms in the country’s ease of doing business with investors as well as enhancing competitiveness in the investment landscape,” he said.

Offor noted that the NIPC was established by the NIPC act of 1995 to encourage investment in Nigeria through program facilitation and policy advocacy.

Present at the summit were various investors and CEOs of international organisations from UAE and Asia and they all recognized Africa as a big market that they will love to explore in order to extend their investments for mutual growth. They say every success story is about adaptability to change and for Africa to grow, it must open its doors to the world and allow Foreign Direct Investments.

Some of the top investors at the summit include Managing Director, RChenie Int’l, Shirish Patwardhan; CEO Sanbook Consultancy, Dr. Sunil Manjarekar; Former President, Indian Business Professional Council, Abas Ali Mirza; President, Samsotech Int’l, Jayant Deshpande.

The summit is a follow-up to last year’s successful hosting of the Foreign Investment Network FIN Africa-UAE Trade and Investment Forum which saw UAE Pledge $2bn to ensure Nigeria’s mining sector growth and sustainability. Foreign Investment Network (FIN) Africa will be partnering to host another Blockchain and investment forum in Dubai in February 2022.

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