• Sunday, February 25, 2024
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BusinessDay

First Bank partners Hong Kong for business expansion

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First bank, the largest financial service institution in Nigeria, has partnered with Hong Kong in the Invest Hong Kong programme with the interest of expanding various Nigerian businesses abroad.

First Bank and Invest Hong Kong jointly hosted Nigerian entrepreneurs in a lunch meeting where they had the first hand opportunity to interact with the drivers of FDI into Hong Kong. The forum highlighted for Nigerian entrepreneurs the opportunities that Hong Kong presents as a base for growing their business in China and the wider Asia market.

Ajibola Afonja, Chairman First Bank said Invest Hong Kong is a gate of finance, investment and business, a window on China and Asia as well as a point of contact to encourage and recommend businesses between Nigeria and Asian countries.

Ajibola reiterated on the need for the businesses to be a two-way traffic where, both countries benefit from themselves. As such he also encouraged businesses from Hong Kong to also be established here in Nigeria.

According to Bashirat Odunewu, Group Head Institutional Banking Group, First Bank Nigeria Limited, First Bank is one of the agencies that is trying to promote more inter relationship between Nigeria and China in general and Hong Kong will be used as a conduit, to provide the opportunities for first bank customers who want to do business with China and its neighboring countries to go through Hong Kong and find somebody to assist them, whether it is product services or investments.

Bashirat noted that, the bank thought of services that it could offer to make it easier for customers to trade and grow their businesses, and as such, made a business office available for its customers to excel in whatever they do.

Simon Galpin, Director General of Investment Promotion, Hong Kong said Hong Kong’s location is one the key strength for Hong Kong and it is used as a channel to reach other areas of Asia.

Simon disclosed that the numerous opportunities Hong Kong offers for businesses to thrive include its timely independent judiciary, having a simple, low and affordable tax rate, safest place to set up data, ICT development index, a strong human capital and real estate advantage.

According to him, “Hong Kong has created business schools and careers and has one of the best universities around the world, having the strongest wealth growth in Asia.”

Simon added that the country provides them with public relations and marketing support for the launch and expansion of networking events and introduction to service providers.

By: HOPE MOSES-ASHIKE and IFEOMA OKEKE