Talatona - A group of Nigerian investors plan to invest around 500 million US dollars in economic and business projects in Angola, the chairman of the Angola-Nigeria Chamber of Commerce and Industry (CCIAN), Tangyalamba Veloso, announced Monday.
Veloso, who was coy on the volume of business of the Nigerian community in Angola, said his country has around 3,000 Nigerians who invest mainly in the sale of car parts, canteens and retail sales of various products.
He explained that the initial 500 million US dollars could be further increased, given the good relations between Angola and Nigeria and a good partnership between the Embassy and the Chamber of Commerce in both countries, which intend to focus on agriculture, oil and gas, among other sectors of common interest.
As regards to the activity to be held in Nigeria from August 26 to 28, Veloso explained that at least 14 Angolan businesspeople from the oil and gas sector and other productive areas will be taking part in the event to attract Nigerian investors to the country.
The chairperson of the CCIAN stressed that the focus of the institution is to improve economic relations between Angola and Nigeria and help companies to invest in the country.
Automobile complex in the pipeline
Among the various projects aimed at strengthening and re-launch bilateral relations, CCIAN plans to build a “Shopping Complex” at the end of this year for trade of car parts and workshops.
This was announced by the vice-president of the Angola-Nigeria Chamber of Commerce and Industry, Obinna Anthony Ogbuka, during a press conference to present and explain the Angola-Nigeria Business Forum and Business Mission (BMAN 2024) in Lagos.
He summarized that the idea is to organize informal commerce involving Nigerians, bringing them all together in a single space, similar to ChinaTown, to remove their fellow citizens from informal markets scattered over Luanda.
VS/MDS/TED/AMP
