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Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
Business Opportunities (Investments) In Africa
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Business Opportunities (Investments) In Africa

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Business Opportunities and the Etiquette of the culture

Business Opportunities and the Etiquette of the culture

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  • Patience Safety and Security Uninterrupted Power Supply
  • Transcript

    • 1. ISSUES OF CONCERNFor specific matters, investors are strongly advised to obtain furtherinformation and take professional advice before making any decisions.Nigeria’s economy has much in common with those of China, Malaysia andIndia. Free enterprise is the norm, although there are a number of importanteconomic sectors like Telecommunication, Electricity and Water that havebeen, or continue to be, partially Government owned and controlled. TheGovernment’s policy is to promote the commercialization, restructuring andprivatization of certain government owned enterprises.Economic structureNigeria has one of the largest free market economies on the Africancontinent. Most of Nigeria’s economic activity occurs in four mainmetropolitan areas, namely Lagos, Abuja, Kano and Port Harcourt.The country accounts for the highest production of crude oil in Africa.
    • 2. PrivatisationThe public sector’s role in Nigeria’s economy has historically been substantial incomparison with the private sector’s. The Federal Government however, is takingsteps to commercialize, restructure and increase private sector participation inGovernment enterprises.Imports, exports and free trade areasMost of Nigeria’s exports to industrialized countries consist of primary andintermediate commodities. A large proportion of exports consist of unprocessed rawmaterials, with the oil and gas industry contributing the greatest proportion to thecountry’s total exports. Nigeria is a major exporter of crude oil. The country is alsoan exporter of Cocoa, Rubber, cashew nut and raw timber.Imports include mainly capital goods, refined petroleum, and intermediate goods.International relations and associationsNigeria has become a significant player on the world’s political stage and plays animportant role in international organizations like the World Bank and ininternational affairs generally.Nigeria is one of the founding members of African Union, successor to the formerOrganization for African Unity.
    • 3. Nigeria has become an important international conference centre, and has in recent years hosted a number of large international conferences like the OAU/AU and the Commonwealth Summits. The government’s foreign policy principles are to seek to prevent conflicts and promote democratization, disarmament, and respect for human rights, sustainable development and poverty alleviation.Nigerian Culture - Key Concepts and ValuesEthnic groups – More than 250 ethnic groups with different languages and cultural costumes canbe found in Nigeria. The largest ethnic groups are the Hausa and Fulani, which adhere to Islamand the Yoruba and Igbo (Ibo), which adhere to Christianity. Traditional religious beliefs oftenmix within the two big religious groups.Family – Family relations play a very important role in Nigerian culture. Generally, families inNigeria have a patriarchical structure. Polygamy amongst members of the Muslim community isnot uncommon. Family bonds help to achieve social status while nepotism is a major issue inNigeria even though it is illegal.Time – The perception of time in Nigeria differs from that in the West. Generally, everythingmoves at a more relaxed pace. An individual’s needs are considered more important thansticking to a schedule. Keep this in mind and be flexible when doing business in Nigeria.Doing Business in Nigeria © Communicaid Group Ltd. 2009Communication styles – Communication styles in Nigeria may vary significantly depending onthe individual’s cultural ancestry. Nigerians from the south usually speak in a direct way and usea louder voice. Many of the people from the South-Western part of Nigeria make use of proverbsand sayings, thus their communication style is more indirect. In general, Nigerians are a friendlyand outgoing people. Inquiring about a person’s health and wellbeing is essential. A lot ofgestures and facial expressions of empathy are used amongst Nigerians.
    • 4. Working practices in Nigeria• Due to the Nigerians’ more relaxed attitude to time, schedule business meetings well inadvance, preferably a month or two before the intended visit. Confirm the appointmentby calling the day before.• Aim to arrive on time for business meetings. However, this may be difficult due to therather chaotic traffic in major cities of Nigeria. Being punctual is appreciated.• Working hours in Nigeria are Monday to Friday, 8-8.30 am to 5pm. In the northern partof Nigeria, Friday is a holiday for the Muslim community.o Structure and hierarchy in Nigerian companies• Senior executives and colleagues expect a degree of respect. Therefore, be prepared forinterruptions by people of a higher rank when in meetings.• In Nigerian business culture, decisions are typically made by the most senior manager.Nevertheless, input from employees is rewarded and encouraged.o Business relationships in Nigeria• Establishing a personal relationship with your Nigerian counterpart is common practicebefore starting to do business. Be prepared to spend the first hour or two of the firstmeeting for that purpose only. Don’t try to avoid this practice, as it might affect yourbusiness.•
    • 5. • In the first few business meetings, expect the atmosphere to be rather formal. WhenNigerians’ start to feel comfortable with you as a person and mutual trust has beenestablished, they will become less formal. Then follow suit..o Business practices in Nigeria• Nigerians like to be addressed by Mr/ Mrs/ Ms and their last name. Titles are oftenused, as the person having a title sees this as a privilege.• Shaking hands is the common greeting procedure. Women normally don’t shakehands. Due to the various cultures and languages prevalent in Nigeria, greeting oneanother in English is the most common practice.• Business dress in Nigeria is smart. Outer appearance is very important, because it’san indicator for status. Some Nigerians tend to wear traditional “native dresses”(colourfully printed long gowns).1. Patience & Political Uncertainty2. Safety and Security3. Uninterrupted Power Supply
    • 6. Nigerian Business Etiquette (Do’s and Don’ts) DO keep in mind, that even though officially illegal, favouritism and nepotism is still acommon practice in Nigeria. DO remember, that Nigeria has a long history of colonial and military suppression. Thiseffects on Nigerian business culture and makes it conservative. Be formal, punctual and dresssmartly. DO keep in mind, that Nigeria is a multi-religious and multi cultural country. Alwaysfind out which religion or culture the people you are working with belong to. DON’T hold eye-contact while talking to somebody for too long as this might bemisinterpreted as a threat. Instead try to keep your eyes at forehead or shoulder level. DON’T confront your Nigerian co-workers in public when you have an issue with them.Do so directly and openly, but in a private setting so as to not undermine theircredibility. DON’T be irritated when Nigerians insist on being addressed with all their titles. People arequite class conscious which relates back to the history of suppression during slavery andcolonialism.
    • 7. • 100% foreign ownership• 100% income and corporate tax exemption• 100% Capital & Profit repatriation• Long term renewable lease• Strategic location with access to over 1.2 billion consumers• Transparent laws and regulations• Promotion centers in Dubai and Abu Dhabi• Simple and fast application procedures• State of the art communication facilities• Excellent Sea port and International Air port facilities• Easy international Access• Abundant energy supply• Marketing support services • Prohibition of strikes and lock outs • One stop for all permits andthe business licenses
    • 8. SUMMARY OF LEKKI FREE ZONE PROJECTA. A preferential policy hi-tech industrial sector, targeted to create a minimum of 2 million jobsand high efficiency services in:1. Oil and Gas2. Petrochemicals3. Electronics4. Mechanical - Light and Heavy equipment, machinery and automobiles5. Pharmaceuticals6. Textiles7. Shopping, Warehousing and Transportation8. Banking and Financial Centre including Insurance servicesB. A high-grade residential Zone with first class environment due to the envisioned economicstrength of the Lecky Free Zone, comprising of:1. High Class residential apartment and villas for investors and employees2. Shopping Malls & Plazas3. Specialist Hospitals and Clinics4. Schools and Research & Development Centers5. Hotel, Tour & Recreational Centers including Sandy Beach Gardens and bathing, Golf Course,Gyms and Water Sports sector, all in harmony with environment and natures green
    • 9. COMPETITIVE ADVANTAGES OF LFTZ1. LFTZ is located on the southern coast of Nigeria and connectedto the major international waterways via the Atlantic Ocean andthe Gulf of Guinea.2. LFTZ is located on the southern coast of Nigeria and connectedto the major international waterways via the Atlantic Ocean andthe Gulf of Guinea.3. Access to the largest consumer market in Africa, with over 500million potential customers.4. Access to abundant natural resources such as Oil, Natural gas,Timber, Rubber, Cocoa, Arabic gum and Sesame seed to namebut a few.5. Favorable geographical location and ascendant location toother parts of Africa, Europe, Middle East and the Americas.6. It has availability of skilled and semi-skilled man power.7. The social situation of LFTZ with its natural ecosystem,unpolluted green lands and ecological lakes and lagoon whichtogether make it ideal for a modern, yet serene city. 
    • 10. Related Investment Opportunities:- Fish farming opportunities lure investors-Unique marine environment perfect location for aquarium-Particle board manufacturing: A viable business proposition-Lights, camera, action: Invest in the Lagos Film City-Invest in Lagos States healthcare infrastructure
    • 11. Investment OpportunitiesJoin other multinationals in rice productionPosted on: 21-DEC-09Local suppliers cannot meet Nigerias large demand for rice, creating viable opportunities for investment. >> Read moreInvestors invited to process cassava into glucose syrupPosted on: 10-DEC-09Investors have the opportunity to invest in the processing of cassava into glucose syrup in Kwara State, situated in central Nigeria. >> Read moMotel development holds exciting potentialPosted on: 10-DEC-09Local and foreign investors have the opportunity to invest in the upgrading of the Patigi Motel, situated in central Nigeria. >> Read moreFruit juice factory to do well in Kwara StatePosted on: 10-DEC-09The Kwara State Government is calling on interested parties to come forward and invest in the production of fruit juice. >> Read moreTricks of the trade – invest in skills trainingPosted on: 10-DEC-09The Kwara State Government is looking for investors to invest in the states education sector by establishing skills training facilities. >> ReadCapitalise on significant demand for ethanolPosted on: 10-DEC-09Foreign and local investors have the opportunity to invest in the production of ethanol in Kwara State, situated in central Nigeria. >> Read moInvest in the cultivation and processing of maizePosted on: 10-DEC-09Investors have the opportunity to capitalise on the current high demand for staple foods by investing in the cultivation and processing of maize in KwaraState, situated in central Nigeria. >> Read moreTraditional and renewable power companies invited to investPosted on: 10-DEC-09Investors with strong credentials in the energy sector have the opportunity to invest in power generation and distribution in central Nigeria. >>Mixed-use development open for investmentPosted on: 10-DEC-09In a bid to further develop Kwara States tourism industry, the state government is inviting local and foreign investors to invest in a mixed-usedevelopment at Asa Dam. >> Read moreSecond commercial agriculture project to take-off soonPosted on: 10-DEC-09Following the success of the Shonga commercial agriculture project, the Kwara State Government is now looking at attracting a new group of farmers andinvestors to the Commercial Farming II project. >> Read more
    • 12. Investment OpportunitiesCassava processing holds promising potentialPosted on: 19-NOV-09The industrial processing of cassava in Nigeria holds much potential for successful investment.The crop is increasingly attracting attention and processing businesses are slowly starting tospring-up all over the country. >> Read moreCapitalise on agrarian revolution by investing in fertiliserPosted on: 19-NOV-09Investors looking to capitalise on Nigerias growing agriculture sector have the opportunity toinvest in fertiliser manufacturing in Kwara State. >> Read moreLocal production of refined sugar doesnt meet demandPosted on: 19-NOV-09Nigerias local sugar suppliers cannot meet the countrys demand for the commodity andinvestors now have the opportunity to invest in a sugar refining facility in Kwara State, situatedin central Nigeria. >> Read moreFish farming opportunities lure investorsPosted on: 19-NOV-09Investors have the opportunity to establish a fish farming business in Kwara State. Nigeriansare large consumers of fish and it remains one of the main products consumed in terms ofanimal protein. >> Read moreOpportunity to develop an inland beach resortPosted on: 19-NOV-09An opportunity has opened-up to develop an inland beach resort in Kwara State, situated incentral Nigeria. >> Read more
    • 13. investment opportunities Investors invited to process cassava into glucose syrup Investors have the opportunity to invest in the processing of cassava into ...Waste management offers promising bLagos State governor, Babatunde Fashola on Tuesday said that there are significantopportunities in the waste management chain such as recycling and power generation.Join other multinationals in rice producLocal suppliers cannot meet Nigerias large demand for rice, creating viable opportunitiesfor investment
    • 14. Hidden Treasures: Untapped mining opportunities in central NigeriaA host of opportunities exist in the mining and processing of solid minerals in Kwara State, situated in central Nigeria.Investment OpportunitiesNigerias preoccupation with its oil industry has resulted in a grossly underdeveloped solid minerals industry. The presentadministration of Kwara State is actively promoting investment in the sector and is committed to create a favourable environmentfor investors.Currently there are few significant mining activities in the state and most miners only operate on a small scale. The Kwara StateGovernment is advising prospective investors to partner with local miners already in possession of mining licenses.Minerals found in the state include:•Gold•Limestone•Tantalite•Columbite•Cassiterite•Silica sand•Talc•Tourmaline•Mica•GarnetIncentivesThe Kwara State Government is committed to create an enabling environment for investors.Investors will be assisted in the following areas:•Acquisition of land•Financing•Adequate security at the facility•Electricity supply•InfrastructureContact Details Investors interested in this opportunity should contact Segun Olanipekun, Special Assistant to the ExecutiveGovernor, Kwara State (Investments) at segunolanipekun@kwarastate.gov.ng
    • 15. Related Investment Opportunities: - Agriculture project: Follow in the footsteps of Zim farmers - Produce cut flowers for European market - Cement production: Feasibility study shows good potential - Mixed-use development open for investment- -$400 million poultry farm starting operations at end of year High Food Prices: Cash in by investing in maize production- Nigerian cement industry set for period of major growth- Zim farmers making progress in Nigeria
    • 16. • Develop and operate an oil palm processing facility• Rich deposits of phosphate rock found in northern Nigeria• Capitalise on agrarian revolution by investing in fertiliser• Light your Fire: Opportunity to resucitate match manufacturing company• Mining opportunity: High demand for gypsum in Nigeria• Lekki Free Trade Zone offers opportunities in a range of sectors• Sokoto State encouraging investment in agri-processing• Invest in the processing of manure• Good market potential for leather products• Rice processing opportunities in Sokoto State• Investors sought to invest in the worlds wonder tree• Sokoto State well-suited for clay-based industries• Lekki FTZ offers excellent incentives for manufacturers• Attractive incentives available for glass production• Local production of refined sugar doesnt meet demand• Motor vehicle assembly plant needed in Kwara• Inject new life into dormant textile factory• High demand for motorcycles offers business opportunities• Jatropha business has potential to thrive in northern Nigeria• Cement production: Feasibility study shows good potential• Paint manufacturing industry: Good incentives available• Mineral Wealth: Opportunity to run a marble processing factory• Solid future for cement producers in Nigeria• Investors needed for kerosene and gas stove manufacturing• Construction materials industry planned for Kwara State• Kwara borehole and drilling industry needs investment
    • 17. 1. Manufacturer of welding electrode manufacturing plants seeks buyers in Nigeria2. Company looking to export plate glass sheets to Nigeria3. Manufacturer of wire nails making machinery is looking for buyers in Nigeria4. Nigerian agents wanted for waste compaction equipment5. For sale: Textile machinery6. Provider of CNC machine tools seeks agent in Nigeria7. Manufacturer of freezing equipment seeks buyers/distributors8. Solar panel manufacturer seeks energy JV partner9. Bearing manufacturer looking to export to Nigeria10. Irrigation products and services offered11. Manufacturer of safety equipment seeks Nigerian clients12. Company looking to import canola, corn and soybean oil13. Plastics manufacturer seeks Nigerian buyers14. Optical goods manufacturer looking for partner15. Manufacturer of bedding looking for buyers• Ball bearing trader looking for buyers1. Indian producer of heavy industrial gears proposes exports2. Manufacturer and exporter in India looking for a business partner3. Manufacturer and exporter in India looking for a business partner
    • 18. ORIENTED INDUSTRIES:Domestic and overseas businessmen and women are encouraged and welcome to LFTZ to investsolely or jointly in the projects as follows:1.Manufacturing of home appliances and electronics, textiles and garments, light industry, buildingmaterials, agricultural products processing, machinery manufacturing, motor vehicles and partsmanufacturing, etc.2.Oil, natural gas and chemical industry, transport and logistics, R&D of science and technology, etc.3.Commercial, real estate, tourism and leisure industries, supermarkets, shopping malls, hotels,schools, hospitals, tourist resorts, and golf courses.4.Infrastructure: ports, power plants, water plants, sewage treatment plants, liquefied petroleum gaspipeline project, and transportation construction projects.The invested projects in the zone must be in compliance with Nigerias industrial policy, in line withthe overall planning of LFTZ, and meet the requirements of environmental protection

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