Investment Drive: Abiodun Visits Egypt, Ethiopia, Woos Investors

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Dapo Abiodun

Poised to increase direct foreign investment into Ogun State, Governor Dapo Abiodun, has embarked on visits to Egypt and Ethiopia.

The governor during investment tour met with the Ethiopian Minister of Industry, Ato Melaku Alebal, in Addis Ababa, and sought for area of investment and collaboration between Ethiopia and Ogun, particularly in the area industry and trade

Abiodun, in company of Dr. Mohammad Mahmood Abubakar, Nigeria’s Minister of Agriculture, also evaluated the benefits of and possible collaboration opportunities in the Special Agro-Processing Zones (SAPZs) which are a product of the African Development Bank.

While meeting with the Elsewedy Group, one of the largest conglomerates in Egypt, the governor, accompanied by the State Commissioner for Finance and Chief Economic Adviser, Dapo Okubadejo and his Agriculture counterpart, Samson Odedina and Afreximbank president, Dr Benedict Okey Oramah, said the meeting with the group with significant investment opportunities across Africa and Europe, was to seek partnerships with it.

He explained that the meeting was also to facilitate Elsewedy’s investments into Ogun State in healthcare, industrial park development, real estate, intelligent transport systems network and management, tolling systems and in power sector.

“The group is the largest producer of prepaid meters in the world. After this meeting, the investment team would be hosted in Ogun state to further evaluate and structure these investment opportunities, after which the President & CEO Elsewedy Group Ahmed El Sewedy who was on ground to receive us, would come to Ogun state to sign a document in these areas and execute relevant definitive transaction agreements on these investments

“Our team also met with Peter Emil, the Chief Business Development Officer – Áfríkà for Wadi Degla Holding, a Cairo-based multi-business conglomerate that is into real estate, telecoms, and sports services.

“While the meeting lasted, we discussed some key investment opportunities available in the areas of creative arts, entertainment and sports development.

“As the Wadi Degla Holding explores the African market – especially in Nigeria – it is our strong belief that the Gateway State would be given utmost consideration due to the existing ease of doing business and other socio-economic development considerations which place us at a vantage position in the country”, Abiodun stated.

The Elsewedy group, which is the largest producer of prepaid meter in the world, is expected to pay a return visit to Ogun state soon, so as so to further evaluate and structure the investment opportunities.

The President and CEO Elsewedy Group assured that he will be in Ogun State to sign an MoU in this regard.

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