MONDAY, NOVEMBER 26, 2012 · THI SD IY
26
NEWS
BUSINESSWORLD
us Fimt to
~-
Invest $21Om inAfrican
AgriCExport A. Uruted Suits firm.. urMr ~,I§ ~,,521O rriIIim pnvalt> ftf\Jlt\. IJlH5tmcnt 111 tfw procumnml and a]'Ort of Agncultural cmunodlbes
&om Afna 10 Asi.J. Europr
"'" """""
Other mlnonty
UW50s
Pembaru Remgm Wnstructure Fund. , South
lJ'Idude
~pr1\.~·firm
and SWdard 0w1ered f'k. Afnca ~'walt' Eqwty dlVlSlCn. The $210 rrullion woukl be II1wseed Dlto Export Tntdlng Group.a~1(;Jl"
cultunl awTIJ*ly tNt soun:;e UA1I'uiibts &on AlI:o's !mall f.l.m'le"Sfcx~
MUJI18
thr~t
m Wit5lungt.o1 ~t1y,
ttw
Dlrector at the Carlyle sub-Sah&r.m Afna ~ian.l~g
Fund..
Gcrrv~r
~
dl5do5td ltvt this W~ thr fiBt Investment of Its ~ su~Saharan Afuca Fwvi ShP ~ tNl thr sub-
1h.11~~mthebld..
FG to Remove Barriers to Intra-African Trade
cl demind b food and ereg)" from the MI 01 the world. '"Compebbon """l\ gjoboI moab 15 hNbng up In A1na..
Yernl Altinsuyl mAbuJa
_
Afn<a
Fund. wgrtod
S500 rrulhon. 15 " reflecbcn ci haw pm'a~ty firms an! trymg to po5IbcWI themwh-es 10 tlp II*» the- alI"Ibne1t's nt¥> COI"ISWTIl'!S as ",1!'f1 ~
.1
dniw ~1:Ir!r'IId'I ID tht pros:reiI5 100 chllIt'nges of I'(',"'.vn
stalt-holden
.1I1\~mum;run..h
In rTIIft~ ~ddv
world.· she lOUd 5.mgucb noerd thai Afna"s pm;pects appeIU' more appsJtOg than IJl thr p.st. Wgdv beausr It 15 ~ f&s.aer INn mo5I repons CII.IGII:ie " MId the \1Jdd1e East. The contmenr ~ voung people- are .00 ITW.Jng thrtr WI} to thr
-
alles ..nd
5toIang
con5UJl'Ift
Shr cts:b;;ed thai !he Carlyle Group " 41 g.IobaI a1tem;11lW asset ~ "''1lh I n ( f t INn 5tS6 billIOn In ZiI!iets undtor INNgement .actOII5 99 fun& AJd 63 ftrods cl funds ,'l'hdes.
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~ ........... f * -
As pM! 01 efforts 10 boo!.l reglonilll mtegntJOn and IJ"O"NSl' Intra-Afnc;ln T~, Nign'U will remoVC' tanff and non-tanff barnrn 10 tndC' Wltfun tht' contlnt'nl, tht' MlnlStef of Tnldc! .nd Investment, Mr Olusegun ASilng.. ~ Slid tv 'fdr d~ Iht' Afnan Indu:.tNll5oJhOn 0..)' (AID), m Abu}a, on the theme cl ttus ymr's AID CDrNnmD'ilIbon IS .Alxderatmg lndU5tJWJsaQOl'l for boosung Inlnl A£nan
......
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...... ~
""""'0..
'
thot' poltey
l1'\Inufac1unng sedOl"
He SI.d .. Afncl IS Indftd With /I wC'~lth of
endow~
natlmll.,w;t IYUI'CfiII resourtItS ",tuch Ii property h.l1'ne'ii!it'd. would 5ene as an engme
ll'It'Alnan 1nd~td1 DIy I!> a s:p«W day set aside by tht' Conferena 01 Afna.n ~fuusaers oIlndustry (CAMl) wdt'r Ihe aeglS 01 the AlnoIn Uruon Comnus&Ion (AUC). 10 focus 00 sp«U1C strateps of Afuan aJUnblH to stunubw mdustn.ll dt"\'C'lopmenl and
of economIC growth olnd prt'l6penty on lhe C'Or\IlN'n I It IS ~ unfonuNtr tNt
Afnca "- hem \'e!'\' !I.IC'Ce5ISfuJ in Ifllegnttng lbell With the rest ollhe world. but has not been sucassfullI1 InlegTilltmg counll'lf5 Ifl the conllN'nL "'Eff«tJ\·C' reg.on.al U'ltrgn-
GovI."fTllX. Cellini BInI. 01 NIgt'N (em-..'). t.iiiIIlam Sanus. Lanudo SanllSl tvs said that the Nigenan will not A!CO\-ef full)' Without II vibrant Glp1I."l1
.....
",.,
banlJ did not ha\'e what II lal.cs to prov.de the kind 01 long-term funds reqwn.'d to grow the eoJnOm)' t'\'al1lS hr .wi1.m.'d that the captu.ll'l'lad.et would bounce bad. no:! )''SL 5."lnusl ~ t'\'ery cicM-TItUm 01 thr CilptW marl.et tool. .., iiI\-f'RSt' of three )'Nrs to
""""r"'" ................
du~ /I
'0.."'''.1Jml..ltd~ "-
of W ~ l~tJtult> uI Surlb"...., (CIS)
cmcentratJon
"~EI"""'/l..abo.r
A('cunh~ til him. WllhIllil • \'("1') '4n~.mJ ..h1' 011'11.11
Al>Itwtk., who..'ft' thl: ~ 'i('dor n-m.lIIb tht' d"nulldnt
~:ll.knll:
~
_[).ru~
t~Abo1.n(C"'''''J
i..,ofDt Alkrlfntt9JI .t.r.r: E.m.p"""<WI\(lOIlQ 'b'nIOwni~~t.t.j
men! Inlo the manuf~ sedOr. N~ auns.I~
Ing Intn-Atrian tnde b) brt'aktng down tanff and ~tanff bamers .md tnharc109 mUIU.lllv ad\'ant1gt'OWo cmunno.al Jdab(Wb through trade libenl~bon ~. "'RtogIonIIm!il'gnlhon
helps
10 de\'dopIng 1a~ ~ ~ greater compt'tItK1n and ~-.,; policy ~ 11'1 ~'_cift~
agenda In addill(lfl, pooling OXI"Ora'5W Il"Io1f'kt ~ through rrgtonalmtegfilhon prondC' • sufflClftltly Wlde economlMd mar~ "'p"CE' to make economies 01 SOlie possibie,w he iildded The Muustef w.d hb mmbtry hiiId commenced the Implementalion of Inde laci.I.JU,hon prognmmes iilnd poIiOes 10 ensure ~ted indl.lStnotitsabon and enhance
fnr ~ cI ~"-ur.. the ('(JI\ImenL He A;.d "Nq;eru urgenlly need5 10 o\'errome the challenge!. of tnlde, m.lmly tJw fTeoe rTIO\'ement 01 goOOs Ind ser'\~ 10 ensure ~ted industniillz§al1On Ind 'aeluate growth wlthm the ~ To thzs end, we have alrriild\ commmcrd ~'enl tr..J~ fillCiluahOn lrulliiltl\t!> M) fo1m1s11')' IS iii! an .Id\'.lnced !iuge, ",or\...mg With NEXIM Nri... a't IhP propo"C'd _ hnk COiISIer Iftn sen.. -'mg tI-or West Afncan coast to reduct' the Slnlr "".uTle.,. 10 1e. than ont' "'f't'L In addltlOO.. we .rr fonmng on formallSing Informal trades iillong the bonI", He added "HzslOncaU, no natKWI ha.s mm..ed from • poor 10 iii nch rwtJOn by relymg ""'lilly on C'xpor1l1\g fiilW maaen.b without N\'Ing II \'bin rNnU!actunng 'iOC1Or iilnd iii robust sen ICes sector
,,!!';
de"-eioped con IIv ,,-~b of mdWitn.l1 growth. !\;I~ I!> not onl)' endowed ",-uh InlmIOUS hurron ..M JMenaJ re;ource.. bul ~ Wo auTtn!h Ihe f;;as&eSl growmg «UnOm) m Arna ~ In a IOmt meswge t>} the Afncat Unm. l./N1I..'d NtDlS EconomIC Comm!M.ion for Afneil, Ind the L'R1I~ ~II IIMS lndustnal Dl-I.dopment OrgamsatJOn, the-) stressed tlv need for the Cl'riillion (If II ContJnf'nu;1 Free T,u AIm t>,.- :Ill';", 11'1 order to bo.:.!il tr.dr among Afnciiln rountncs The- ITIeS5oiIge, rriild b) If.\.'lDO Count!) Repremt.live U'I ~Igena.. Dr P,Itne'" J.;mna",~ saall!d. """" suppa1 tlv crealJOn of a Conunental Frn: Tnldl" Area tr, 2017, itS II first ~ ambllJOu'5 IiiIrget to\<o'ard,. semng up an Afrian mar~, which ciiln help Improl;e a:ononuc ~ In busmes!. vpportwubeS and Foreign Direct In\'estmml~
Sanusi: Economy Requires Capital Market to Grow
.......
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00
dll'echon of governmenl to"outb.l 5UStaJniIbIto Indt.l5tnll sector dC'H~LopITl('n'A(tI~~. who WAS ~rt' sented bv the MinISter of Staw (or Tradt'.and Im~ Dr 5.unud Ortom. noted Nt eff«tI\'C' ~llfltq;ra1:lOn Ifl ~ would ~ lr.lde Wlthm Ihe conbnel.t .md abo ~ttrK1 In\'estmenl mlo the
bon In Afnca. would not onI) enhanct' IndC' wlthm Afna but woukt abo.ttract lI1V$-
A 5&i*'mI!nI al f t ""~, said s.nUSi I1\IIde Uus I'\"Jt1.vl cour1esy ug.. olficr b,
\"ll>lt
ID h~
~
mark'! th!.. o'(l-.n.-'ln1\' wdl O'OfltIllU" to .-k,...·nd un
runJ......
tm mH."l>Imcn1 tund .. He iI~ued thai olJ1unem,a1
"""'.., "I ha\''C'
iillw.)"!> saJd that the marl.et Will n.'OO\'ef m 2011 \~ need to Iool. iilt the
of the rnarkt
M't'\'"., nms rtf~"ltnl ~ 1lI.>I
Tho..
.d.·.-d." ht-' ...ltd "'....'t'TTll... ~~bo<...t
0ll"rT'h-r.- 01 tht- CIS tnus.: !ho.'
0CCa5I0n
ollhetr forthconung
Nabonll \\iorJestw,p AS .., a\'C!rult' ID discus!; ISt>ues that
would fKWtatr lhl' g:n:-1h 01
thr CIop'UiI market.
~~
Counc::iI d
as, MI
Anvo otushelrun. apfJ".'Ooltl'd for his clion 10 sbbilise
Commentmg on the forbea~ for CilpiUil marl.et
SanU51
~ wty}OOcaroed
~\";Oe thr Cilpital ma~ operator!. arf'R.'CWte ytJUr mhghtmed contribubOn!> 10
INI'9rI Io.lns from b.1nb, the CBN SO"t!ITIOI" sud NOur po5Il1On II thr C6!'1.1 ~ that t'\"!}ixxt>' who ha,.... bot mcney ~ n..rgtn ioIns and ~
N''''
rd~' ~~enuny-
tI'W'~m01p1W~ ~l'r\ ~'qUC!I\t tht
uroo
""''''''''''~ (urpom .., (M1C[)"'o.;):hluIoJ
al!i5 ..'t.ch curnrnend • """ yall!> ap"_ '""IUT !Upplrt 10 ttc all It... grant ot fortx'.\rilflCl' lu ('iilp'ul nv.rlo.'! l~lt-.n a.-' II "';1\ clI\!ilI.JI\"lI1f; dt'bt U\.~ In &he Jl1olri.....1 to ub.l ",,>r!t'1; rol
.. II
nn~.
!hear Ir.:6-se.. -we 1If(' l1f the t'f"JUOO that
10 beu
carltal marlo.ot tlpcr.!I<Jr.O, the
......
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r0rt".., ..1 Ih"" 10.........
",() thai the m.uMot can mo\'t· ,.;o.oU'd ~ ht.• ....,...1 LulJo:'f In hb ...JJI~, tilt' l~.md Qw.1nn.1Il1l1 !ho.'
\ ..... -'>11\0-"0.·1\ oIIl'rn....-I .. k \'.Ir lilCU'<ld. '-llUl".tt:"_ ilnd ,1o"'ITTW1O',j hv.lNlIf' .. u ...l'<Ih " " .,;uw.:lu•.'\i _~l'!j& 1011 Vl.out '''"'-i.·,n'IU ...... , r'llo.-..ho.~Wl ...IIJ