The Outward Selling and Investment Mission which took place for the first time in Nigerian soil over the past week, was hailed a success by the members of the South African business delegation led by the Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe. The mission, which ended on Saturday, resulted in some business people coming home with very good deals.
One such business person is Teboho Price Monahadi of Archi M Studio from Gauteng, who was delighted to come home with a signed Memorandum of Understanding (MoU) with Jacob Esan PLC, a public-listed company in Nigeria.
“We are now in a process of registering a joint venture through our lawyers and we intend to invest in a development of a hotel in Nigeria. We also intend to propose a new airport to the Nigerian government, which will be our next big operation,” said Monahadi.
Monahadi said he was grateful to the Department of Trade and Industry (the dti) for the opportunity as it paved a way to such big opportunities.
“The Nigerian market is huge and full of opportunities, and we intend to utilise it to the best of our ability,” he added.
He said his newly found partner, who is a billionaire in Nigeria and has businesses in various industries, also intends extending his operations into South Africa.
The Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe said the mission was a great success, considering that it was the first time that it was taken to Nigeria.
“You could see that the country and business people in Nigeria are hungry to do business with South Africans because of the expertise that South Africans possess. We are happy for those business people who came out with something and wish them well, but also encourage those who did not get tangible results to keep following up on the relationships that were established,” she added.
During the mission, Thabethe also met with South African companies operating in Nigeria and encouraged them to keep up the good work and making South Africa proud.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Tel: 012 394 1650
Mobile: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
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