By Maazi Obinna Agommuo
Executive Director, ESGADIA.
As part of our drive to liberating the African economy, ESGADIA through her new investment arm; ESGADIA Investment Company Limited considers building Industrial Parks across Africa starting with Nigeria to help the growth of our MSMEs and SMEs in the African community while attracting Foreign Direct Investors (FDIs) to the state-of-the-art, plug and play industrial infrastructures.
To achieve the above, ESGADIA has entered into a joint venture with Bhumi World Associates India to build industrial parks across Africa.
Our Partners, Bhumiworld identifies itself as a prime entity in contributing to Nations economic growth and development by creating the much-needed Industrial infrastructures of International Standards that support Manufacturing, MSMEs and SMEs.
MSMEs and SMEs are arguably major contributors to the GDP of every Nation and they can only attain maximum production capacity if they operate in a conducive enabling business environment such as the proposed Bhumi-ESGADIA Industrial Park in Africa.
In India, Bhumiworld signed MOUs with the Indian Government to build additional forty (40) Industrial Parks in the next seven (7) years to help Small and Large-scale Businesses/Industries to thrive and grow in a perfect environment.
Bhumi-ESGADIA shall collaborate with Governments in Africa whose role is to provide the Land of say 100 – 200 hectares and enabling environment for the Industrial Hub. ESGADIA is currently in discussion with two State Governments in Nigeria for this purpose. A number of factors are being considered for siting the proposed Industrial Hub which include nearness to major commercial hubs or cities, access to 33 KV line from the National Grid as alternative source of power as the Hub shall be fully powered by her own generating facility of 25 MW, nearness to Sea ports and relative peaceful business environment.
The Industrial facilities in the Hub shall be commercialized, in other words shall be sold to Entrepreneurs; both Local and Foreign for the purpose of setting up their plants in the Hub for manufacturing/production purposes. After sales, the cost element of the land and a portion of the profit shall go to the State Government while the State Government transfers the titles of the apportioned Land to the new owners and Bhumi-ESGADIA transfers the titles of the industrial structures or facilities to the said new owners.
ESGADIA is expected to attract close to 70% of African Entrepreneurs to the Hub while Bhumi-ESGADIA is expected to attract 30% or more of the subscribers (occupants) of the Hub as Foreign Direct Investors .
This way, we are able to provide jobs for our young population, help to grow the overall GDP of Africa, develop the rural community, as the hub shall be sited outside the metropolis and most importantly it will help to build the capacity of our younger generation through technology transfer.
Sequel to the above arrangement, ESGADIA has been rigorously and vigorously engaged in wooing investors to come invest in the Hub and other parts of Africa.
We have noted without fear of contradiction, that it’s only when Africa is fully industrialized that she can realize her potentials and be able to grow her economy to independence.
It therefore behooves on every member of ESGADIA to be thinking in the direction of Africa industrial revolution. We have criticized our inadequacies as Africans and intellectualized enough, it’s now time for us to action our words.
ESGADIA is currently being viewed even by the global business community as the gateway to Africa on Investment and therefore must be seen to be up to task.
On the third party projects belonging to members of ESGADIA which were earlier reviewed by the ESGADIA Technical Committee on Investment In Africa and being delayed for funding, we hereby assure members that the ESGADIA Strategic Technical Team is working round the clock to secure partnerships with investors/funding organizations across the globe to finance third party projects across Africa. I therefore plead with affected members to exercise patience with us as we are bent on seeing those projects take off the ground.
Members who also own Lands for Industrial facilities are advised to reach us through [email protected]. The Land owner stands the chance of becoming part owner of the project to be sited on the Land. There’re a number of Foreign Direct Investors who are in talks with ESGADIA to establish their plants in Africa and we need Lands for effective collaboration as it is in our mandate to provide Lands while the Investor is to provide the technology and the funds required to run the joint venture.
I want to sincerely beseech us to be focused on this great vision. This is not the time for distractions, this is the time to put our hands on the plough to work to pull Africa from her sorry state.