Footprint to Africa, a Lagos-based pan-African business news and investment firm, has signed a Memorandum of Understanding (MoU) with African Discovery Group, an African-focused Principal, Advisory and Commodity Trading firm based in New York, USA, with the aim of fostering greater interaction between investors from the US and African business and political leaders.
Both parties would collaborate to drive investment inflows from the US into business-friendly and attractive economies within Wes Africa, with a particular focus on Nigeria.
Alan Kessler, the founder and Chief Executive Officer of African Discovery Group, noted during a visit to Nigeria that the aim of his visit was to introduce American investors to African markets, with Nigeria, Africa’s largest economy being the bedrock of this investment drive.
“Nigeria’s population is expected to outgrow that of the US in a couple of years, making it one of the most attractive investment destination not only in Africa, but across the globe,” said Mr Kessler. “We are looking to attract private capital from the United States into Nigeria, and the African continent as a whole, to enhance development and create sustainable wealth for local and foreign partners keen to offer lasting solutions to key problems facing African economies.”
His firm is focused in the power, oil, gas, real estate and natural resource sectors, and plans to attract investors from the US into these sectors within Nigeria, and other West African countries including Ghana, Senegal and the Ivory Coast.
Alan confirmed that the collaboration with Footprint to Africa will help introduce American companies in the power generation sector to the Nigerian market, which is in dire need of such investments.
“African Discovery Group will be looking to introduce a new marine-to-power generation concept, where power is generated aboard a stationed marine facility and transported directly to the national grid for distribution,” he added.
Mr Osita Oparaugo, the CEO and President of Footprint to Africa, applauded the partnership, noting that such synergies will only lead to enhanced business relations between investors and businesses from both nations.