Tropical General Investments Group (TGI Group) – the holding company of leading Nigerian companies such as Chi Limited (drinks and snacks), WACOT Ltd. (agriculture), Cormart (chemicals) and others–has started an initiative to support the Nigerian Government in its effort to bring more international investors to Nigeria.
“It is key to see the current macroeconomic difficulties in Nigeria as a huge opportunity. Many import-based business models are coming to an end, but those companies that are committed to local manufacturing are the market leaders of tomorrow. As TGI Group we invite the German Business Community to form joint ventures with TGI Group and to invest into local manufacturing,” Dr. Johannes Flosbach (Head of New Business Development at TGI Group) told over 200 German business leaders at the German-African Business Forum in Dortmund, Germany.
As part of a new initiative, TGI Group seeks to attract German companies to come to Nigeria and to form joint ventures with the TGI Group. German companies are globally known for their high quality products and production efficiency. Christian Wessels, Deputy Group Managing Director of TGI Group, is convinced that such partnerships will be beneficiary to German and Nigerian businesses alike: “German companies bring globally leading technology and efficient processes. TGI Group provides a platform for their operations in Nigeria. Together we want to create ‘German Quality, Made in Nigeria’.”
TGI Group with already over 8,000 staff in Nigeria has embarked on a strong growth strategy to use the current economic situation to significantly enhance its local manufacturing. For example, this strategy includes the expansion of the production capabilities for juices and snacks under Chi Ltd., the construction of large processing plants for rice and soy beans under WACOT Ltd., and the growth of its fish trawling fleet under ORC Fishing and Food Processing Ltd. Additionally, TGI Group is cooperating closely with many leading international companies and, for example, serves as a distribution agent for products of Bayer, Merck, Sanofi, Cargill and others.
TGI Group invests in emerging economies, adding value to locally available resources targeting an end product both for local consumption and the global market. The Group has over three decades of experience building local and regional sustainable businesses in fast moving consumer goods (FMCG), agriculture, agro-allied, healthcare, chemicals, etc. The Group’s global presence in manufacturing, farming and agro-processing, distribution etc. spans 12 countries, with a staff of over 9,000, of which 8,000 are in Nigeria.
