Corporate Council on Africa discusses investment plans with Osinbajo

TO promote trade relationship between the United States of America and Nigeria, the Corporate Council on Africa (CCA), premier American organization devoted to U.S.-Africa business relations and a leading source of the most up-to-date information across the continent, paid a courtesy visit to Vice President Yemi Osinbajo in Abuja.

During the visit, the delegates, which included Procter & Gamble, IBM, Symbion Power, Citi Group, Phillips Consulting and the U.S. Embassy Economic team of the CCA led by its West Africa Lead, Ekenem Isichei, told the Vice President that Nigeria remains a priority country for CCA.

Isichei said the delegation briefed the Vice President on the recent activities of the CCA in Nigeria, which included recent ministerial visits to the Ministers of Information, Aviation, Transportation, Trade Industry and Investment, and Interior.

The West Africa Lead said they also revealed CCA’s recent acquisition of the African Travel Association, the upcoming U.S Africa Summit in Ethiopia from February 1 to 4 and used the opportunity to extend an invitation to the Vice President for the upcoming US-Africa Business Summit in Addis Ababa next month, which would have in attendance, heads of state of different countries, key influencer of policies across Africa and over 1000 private sector representatives.

The Managing Director of Procter & Gamble (P&G) Nigeria, Mr. George Nassar, a member company of the CCA, stated that his company has invested over $300million and created over 5,000 direct and indirect jobs through its manufacturing facilities in Nigeria.

Nassar said that P & G Nigeria currently produces over 80% of its products in Nigeria and is interested in making Nigeria its exporting hub for West Africa, while also expanding its business operations in Nigeria.

Receiving the CCA delegates, Vice President Osinbajo commended the delegation on the visit and stated that the present administration is very much interested in the initiatives of the CCA, especially those that would provide very effective solutions for the country within a short period of time.

“One of the most important goals of this administration is to create an enabling environment for businesses to thrive and the government is looking at a proper import substitution regime for the business environment,” said the Vice President. Osinbajo added that CCA’s excellent business initiatives would be beneficial to the administration.

Other members of the delegation also shared their investment plans and called for more favorable economic policies.

CCA is the premier American organization devoted to U.S.-Africa business relations and includes members of more than 180 companies, which represent nearly 85 percent of total U.S. private sector investments in Africa.