Investing in Niger
Total Page:16
File Type:pdf, Size:1020Kb
INVESTING IN NIGER 2012 Your conference host The conference is supported by Platinum Sponsor Platinum Sponsor Foreword Foreword Foreword by Muhammadu Dikko Ladan Honorary Consul of Niger in the UK HILE How best to transmit the business case? is working at speed to ensure that its IT is The answer lies with those who have peoples are shielded and cared for Wove r already invested and those who continue against the worst ravages of drought. half a to expand their business and re-invest The issue of security that faces much century since in Niger. We are delighted to welcome of the region has been and is being, independence, today organisations such as Global confronted with a degree of measure and Niger today Atomic Fuels, NES, Goviex, SEMAFO and conciliation uncommon to the region by remains a Paladin Resources all of whom will tell a government committed to protecting relatively you why it makes sense to invest in Niger its peoples and its visitors. Mature unknown country and why it makes sense to invest now. fiscal management, often a challenge to to the English speaking world. With the incoming administrations, is endorsed election of our current administration all Of course, the private sector needs by multilaterals re-enforcing their that is set to change. The new government to engage with a government which commitment to the country. The presence is ready to engage with Anglophone understands its value and will encourage it today of the World Bank and ECOWAS markets for trade and investment which to thrive. This administration understands pay testament to this resolution. will then allow it to re-invest in the social that relationship and fully appreciates fabric of this vast country. that a flourishing private sector leads to Today marks an historic day in the job creation and economic prosperity development of Niger, and I would like Today’s historic investment summit and contributes to societal growth. to thank all of you who have attended, is testament to this new approach. On a recent visit to the country I met particularly those who have come from His Excellency President Issoufou with a number of government officials North America, Australia, Europe and Mahamadou leads a delegation of eight whose instinctive reaction to a potential Africa to be here; to our sponsors who cabinet ministers, many parastatals and visit from a would-be investor was to have supported us in our planning over the Nigerien businesses, for the purpose dedicate an official to them so that they past six months; to Developing Markets of demonstrating to the international might better understand the investment Associates who have assisted myself and community the vast investment potential potential, issue a visa on arrival in order to the Consulate in preparing for today; to the of the country. better help their travel plans, and to invite US Embassy and State Department who them to meet with existing investors in have been unwavering in their support; and The time to invest is now. Having travelled order to reassure them of any investment most of all to the UK Government and extensively through Africa, the vibrance of concerns they might have. In short, its Foreign Office not only for lending us the foreign direct investment community a government, from the top down, their prized rooms, but for half a year of in our capital Niamey is reminiscent of which is looking instinctively at embracing commitment, faith, and a guiding hand in all the anticipation of post-Apartheid South an investors’ skills and intelligence for the that we have achieved today through our Africa, the energy of Ghana over the past betterment of the country. long and meticulous planning. decade and the excitement of today’s emerging Kenya. Indeed, I would venture Despite all of the enthusiasm for the It falls on me lastly to invite you and to say that nowhere else in the sub-region measured commercial expansion that welcome you to Niger, this enormous, is there such an extraordinary sense of the government seeks, challenges of extraordinary and under-served country business optimism in the second decade course remain – challenges that this with the potential to become your of the new millennia, reflected in near-full administration recognises and is facing long-term partner in sustainable hotels, a burgeoning restaurant industry with a maturity beyond its years. investment in Africa. and expanding business community. The impending Sahel food crisis is one such challenge, and in the margins of Muhammadu Dikko Ladan Herein lies our challenge. How best to today’s event and in meetings prior to and Honorary Consul of Niger further communicate the opportunity? proceeding the Forum, the government in the UK 2012 INVESTING IN NIGER 1 Foreword Foreword by Atam Sandhu, Chief Executive Developing Markets Associates O R has at last enabled the country to look ANYONE forward with anticipation to a positive Fvisiting future. In this desire it is also assisted by Niamey, Niger’s the genuine goodwill on the part of the capital, for the international community. Niger is now first time, the able to use its undoubted resources to reality seems make huge strides in the progress of both much removed its economy and its society over the next from the images few years. often portrayed in the media. On my recent visit a Today’s forum provides a unique few weeks ago I found every hotel full, opportunity to connect with the the city buzzing with commerce, and Government of Niger and potential roads bursting with traffic. The overall Nigerien partners. I hope that the impression from both the city and its proceedings will be informative and people was of a nation brimming with update your knowledge of the country energy. There is an immense amount from a business perspective. More than of work underway to develop Niger, this though, I hope that knowledge will especially in the infrastructure sector. trigger a interest to further explore in The presence of organisations and detail the investment opportunities now foreign companies engaged in projects in available in Niger. Today’s presentations the country was impressive and visible at and the conference materials will be every turn. available to download from DMA’s website www.developingmarkets.com That same energy and sense of in the days following the conference. purpose was present among the many Additionally, DMA, the UK Foreign and government ministers I met, all of whom Commonwealth Office, the Consulate of were passionate about the importance Niger and the US Embassy will also be of foreign investment to their country’s delighted to assist you with any follow up future development and the government’s activities with either the public or private active drive to encourage it further. sectors in Niger. His Excellency, President Mahamadou Issoufou and the ministers addressing Lastly it remains for me to thank you for you today will discuss the progress taking the time to attend today’s event. being made, the funding gaps that need There is much business to be done with to be addressed and the investment this newly emerging republic, with its opportunities that exist. future exciting for both its people and its partners. Niger is a country that now deserves our attention. Having suffered greatly from neglect and bad governance in the past and with many of its people still among Atam Sandhu the poorest in Africa, the coming of peace Chief Executive and the election of a popular government Developing Markets Associates 2 INVESTING IN NIGER 2012 Contents Contents 04 ECONOMIC OvervieW 10 AGRICULTURE 13 ENERGY AND MINING 16 INFRASTRUCTURE 19 POLITICAL HISTORY 20 IMages OF NIGER 22 NIGER CONSULate UK 23 MAP 24 NOTES 25 PERSOIL Publisher: Chris Gerrard Contributors: Jonathan Levack, Gary Ginsberg, Robyn Kingston Art Director: Steven Jones Conference Team: Deanne Lintorn, Frazer Lang, Rebecca Isaacs, Alison Hamilton Conference Directors: Atam Sandhu, Leon Isaacs, Roger Martin Correspondence Developing Markets Associates Ltd (DMA), 150 Tooley Street, London, SE1 2TU email: [email protected] | web: www.developingmarkets.com | www.sendmoneypacific.org DMA acknowledge the assistance of all the individuals and organisations who have contributed to this publication. The views expressed herein are the opinions of the authors, and do not necessarily represent the Government of Niger or DMA. All rights reserved. No part of this publication may be reproduced or transmitted in any form without the written permission of the publisher. Published by Developing Markets Associates Ltd (DMA) Printed by Woodrow Press Picture credits: istockphoto.com, NES, Niger Consulate UK © Developing Markets Associates Ltd 2012 INVESTING IN NIGER 3 Economic Overview In response to such challenges, the government is embarking on an ambitious Economic Overview development programme that aims to by Jonathan Levack address many of the structural issues that have long affected this country of nearly 16 million people. Much of this plan is HILE many major global Despite recent success and an predicated on a drive to attract foreign economies continued their encouraging outlook, Niger remains a direct investment (FDI). A period of Wlaboured recovery from the low income country. Landlocked and relative stability and a genuine desire to global financial crisis, 2011 was a relatively vulnerable to an increasingly volatile reform should provide the platform for good year for Niger. Consolidating real climate, 40% of the population live on less investment in the country, particularly in – GDP growth of 8% in 2010, 2011 saw than US$1.25 a day and 80% of Nigeriens but not limited to – the country’s mining democracy restored, production start at are employed in subsistence agriculture. and extraction sectors. Such investment will the Zinder oil refinery, operations begin Niger has also suffered from sporadic enable the country to achieve its aims of at the Azerlik uranium mine and real growth, often linked to the level of rainfall, boosting growth and thus reducing poverty.