Dangote, Zenith Bank, Quits Aviation to Invest in Kenya 

Quits Aviation to Invest in Kenya - Sam Iwuajoku

by Jenet Isabel Thursday, April 03, 2014
Dangote Cement, Zenith Banks Plc, and Quits Aviation along with its global partner, Execujet, have expressed their desire to invest in Kenya. This emerged at the weekend during President Goodluck Jonathan’s three-day visit to the East African country.

During an investment forum held in Nairobi, Kenya, the three companies pledged their commitment to invest in the Kenyan economy through their chief executive officers.

Alhaji Aliko Dangote, Africa’s richest man, who was on the president's entourage, was said to have committed $400 million (N64 billion) to build a cement factory in the East African country.

Also, the founder of Zenith Bank Plc, Mr. Jim Ovia, who was also a member of the entourage, promised that his bank would establish its presence in Kenya.

The Chairman/CEO of Quits Aviation and Execujet, Mr. Sam Iwuajoku which runs a private hangar and Fixed Based Operation (FBO) at the Murtala Muhammed International Airport (MMIA) in Lagos, also stated that it was committed to establishing an aircraft hangar and FBO services to cater to business jet in the East African region.
Iwuajoku was also part of the president's delegation to the East African country.

Quits Aviation and Execujet provide aircraft maintenance and FBO services which entail cleaning the aircraft, fuelling, route planning and dispatching, full passenger and crew handling, as well as a complete concierge service.

The collaboration with Execujet would enable Quits Aviation to get the nod of the manufactures of business jets such as Bombadier, Hawker Beechcraft and Dassault have centres for the service of their aircraft in Kenya.

Speaking at the forum, which was jointly presided over by President Jonathan and his Kenyan counterpart, President Uhuru Kenyatta, Dangote, who served as the Chairman, Dialogue Group, reiterated the need for Africans to look inwards for partnership in trade and investments.

He decried the situation where intra-trade on the continent was below 12 per cent and decided to use the Nigerian-Kenya initiative as a model in Africa.

At the investment forum, which was attended by about 500 investors from Nigeria and Kenya, the billionaire business mogul thanked both Jonathan and Kenyatta for creating the window of opportunity for the business community to interact on ways to improve trade between both countries.

He said Kenya would assist Nigeria in boosting a sector where it had comparative advantages such as tourism and hospitality, horticulture, dairy, sugar and Information and Communication Technology (ICT).

On the other hand, Nigeria would assist Kenya in the oil and gas sector, movie and entertainment industry, agriculture and banking sectors.

Also disclosed at the forum was the intention of a leading Indian textile manufacturing company, Bei Textile Limited. to invest in textile and garment industry in Nigeria.

A Memorandum of Understanding (MoU) was also signed at the forum to strengthen the already existing Nigeria-Kenya Chamber of Commerce and Industry.

In his remarks, President Kenyatta announced a five to 10-year visa duration for Nigerian businessmen coming to Kenya. He said the policy would ease the challenges of visa procurement and encourage investors from Nigeria to Kenya.
Confirming the development, Iwuajoju said shortly after the Kenyan president's announcement, the immigration authorities immediately granted them five-year visa as a demonstration of the country's commitment to attract investors.

Other members of Jonathan's delegation included Governor Peter Obi of Anambra State, Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, Minister of Culture and Tourism, Chief Edem Duke, Minister of Internal Affairs, Mr. Abba Moro and Chairman Senate Committee for Aviation, Senator Hope Uzodimma.

Meanwhile, Kenya has offered its 46 newly-discovered oil blocs for interested Nigerian investors in the oil and gas industry to develop.

The Minister of Petroleum Resources Diezani Alison-Madueke announced this at the weekend in Nairobi.

The minister said the offer was part of the outcome of the dialogue group preceding the investment forum.

The minister said beyond giving the opportunity to Nigerian investors to acquire the oil wells, Kenya also sought Nigeria’s assistance in the formulation of right policies and framework to manage the sector.

“It is well known now that Kenya had recently discovered hydro-carbon reserves and they are very keen to move quite aggressively in terms of exploration activities.

“They felt as sister African country, Nigeria, having many years of oil exploration and production, that it only makes sense that we exchange agreement in cooperation to hand over knowledge, capabilities and experience learnt.

“They seek various templates that we have formulated including policies, processes and a sort of templates that form Petroleum Industry Bill, among others.

“We also looked at areas surrounding Nigeria’s investments possibilities where we think that Nigerian business men and women could come into the oil and gas sector in Kenya.

The minister said among the seven MoUs and bilateral agreements signed by both countries was that on oil and gas which spelt out details of the co-operation.

0    submitted by Jenet Isabel
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