Nigeria, others ink $3.5bn deals at IAF 2024

Nigerian businesses were among the beneficiaries of the over $3.5bn investment deals signed at the Indonesia-Africa Forum 2024 in Bali, Indonesia.

At the IAF, which took place from September 1–3, 32, business partnerships valued at over $3.5bn were sealed, according to a statement from the Directorate General of Asian, Pacific and African Affairs of the Indonesian Ministry of Foreign Affairs.

The Nigerian delegation was led by Minister of Information and National Orientation, Mohammed Idris, who represented President Bola Tinubu.

Small and medium enterprises in Indonesia and African companies, including Nigerian firms, signed 16 agreements in areas, such as mining, agriculture, renewable energy, and health.

Leaders from several African nations, including Liberia, Rwanda, Ghana, Eswatini, and Zimbabwe, were also in attendance, the statement noted.

The President of the Nigerian-Indonesian Chamber of Commerce and Industry, Ishmael Balogun, led the Nigerian business delegation, as companies signed Memoranda of Understanding.

One of the highlights of the forum was the participation of top Nigerian business leaders, including the CEO of Sahara Energy Singapore PTE Ltd, Yomi Benson, who delivered the keynote address, showcasing the growth of Sahara Group in commodities trading, power, and renewable energy.

Also, the Chief Financial Officer of Signature Global Real Estate, Abdulazeez Salawudeen, presented opportunities in Dubai’s real estate sector, while the CEO of AfroKana Ltd, Felix Ezejiogu, shared his entrepreneurial journey, running one of the top African restaurants in Bali.

On the sidelines of the IAF, the 3rd edition of the Indonesian Investment and Trade Forum brought together Nigerian companies to continue exploring opportunities for collaboration in logistics, energy, and other sectors, the statement read.

Nigerian CEOs, including Oluwaseun Ayoade of Seune Integrated Concepts Ltd, a logistics solutions provider, and Timothy Simon of South Africa’s Vutomi Energy, who discussed Africa’s energy solutions, made presentations at the NIITF.