By Favour Nnabugwu
QUANTUM Global, an international investment partner, has earmarked $50 million for investment in agriculture, power, hospitality and other sectors of the Nigerian economy.
Mr. Franck Alain Behiblo, Head of Corporate Development at Quantum Global who was in the country for World Pension Summit Africa in Abuja, in an interview with Vanguard, said that the fund manager is earnestly yearning to invest in the country’s power, hospitality, and other sectors.
“We have about $260million funds for agriculture. We are looking at the mining sector, health care, hospital sector and structured equity whereby we will provide equity for some of the young companies in Africa, we are looking at hotel.
“Quantum is a fund manager in private equity. We have funds in certain sectors of the economy. We are looking at infrastructure, transportation, roads, mining, healthcare and agriculture.” Behiblo said the organisation will invest the funds in batches while it has $50million ready for investment in power and hospitality.
He said, “The total amount is not one I would be able to give. But we are investing more than $50million. We look at the power sector in Nigeria, we are keen about investing in those sector.
We have strong African roots and a global outlook and we are working hard to earn the mantle of being the partner of choice for African investors seeking global opportunities and for international investors keep their money in domestic ventures because those are the regions they know best. There’s no shortage of people with ideas in those regions so there’s no need to bother with international ventures.
He, however, urged the federal government to create an investment-friendly environment, adding that it is a bit difficult to invest in good projects in Nigeria without encumbrances. “What we call good projects is well defined well packaged products. We mean you have a design, you have a feasibility study, you know where the cash flow is going to come.
It is not difficult to do business in Nigeria; there are a lot of opportunities. The business people in Nigeria are very eager, they are very entrepreneurial, they want to take risks, so which is good. But the structure is very difficult, Behiblo added.”