Rand Merchant Bank Nigeria (RMB) says that with the growing challenges in the power sector, it plans to create funding opportunities for willing investors in several other power projects in the years ahead.
The company which is already plays significant financial roles in projects like Dangote petrochemical plant, Azura Edo Power, hopes to do more to improve the power sector situation in Nigeria as the second largest economy by GDP.
Michael Larbie, Chief Executive Officer and Regional Head, West Africa, RMB Nigeria says that as Africa’s largest economy, Nigeria is a critical market for the company’s operation stressing that the goal of the company is to continue to grow the business into a systemically important franchise.
He disclosed that the company recently funded a jetty for fertilizer plants in Port Harcourt and has concluded a deal to fund the expansion of African Steel Mill’s plants. While also involved as a large funder of BUA group for the build out of its sugar refinery in Port Harcourt as well as other expansion activities.
Larbie while speaking at the 2016 client appreciation evening in Lagos said RMB Nigeria’s main objective is to provide clients with innovative ideas and solutions which would meet their needs and requirements. “We believe in building long term relationship and are willing to go that extra mile. We aim to provide our clients with variety of advisory, structuring, trading and financing solutions” he said.
He disclosed that the company aims to be the corporate and investment bank of choice in Nigeria, providing seamless solutions and financing for clients.
Larbie further observe that Nigerian companies that will do well in the future are those with extensive local skills and the ability to backward integrate and source much needed raw materials locally rather than importing them. “The government’s drive for import substitution presents an opportunity in some sectors for strategic buyers as well as private equity players”.
He appreciated clients, with whom the bank has had a past relationship, thanking them for all the support and choosing RMB Nigeria as their corporate and investment bank.
“In 2017, our aim is to continue to support our clients to enable them generate sustainable shareholder returns provide your shareholders with sustainable returns” he said.
KELECHI EWUZIE
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