$3.5bn business deals consummated at Indonesia-Africa Forum 2024

32 business partnerships with a total value of more than $3.5 billion was consummated at the 2nd Indonesia -Africa Forum that held in Bali Indonesia early this month, the Director for African Affairs at the Directorate General of Asian, Pacific and African Affairs of Ministry of Foreign Affairs of the Republic of Indonesia has revealed.

Sixteen business agreements were signed between Indonesian MSMEs and African companies in a two-day exhibition including visits from several African Leaders namely, Presidents of Liberia, Joseph NyumaBoakai, Rwanda, Paul Kagame, Ghana, Nana Addo Dankwa Akufo-Addo, Prime Minister of Eswatini, Ruseell Dlamini, and President of Zimbabwe, K.C.D Mohadi.

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The Nigeria’s Minister of Information and National Orientation, Mohammed Idris Malagi, represented the President of Nigeria, Bola Ahmed Tinubu as Head of Nigeria’s delegation to the 2nd Indonesia-Africa Forum, that was held from the 1st – 3rd of September 2024 in Bali.

There was also a memorandum of Cooperation (MoC) between the Ministry of Foreign Affairs of the Republic of Indonesia and Japan International Cooperation Agency (JICA) for development cooperation to Africa.

During the IAF, country Specific business forums led by the Indonesian Vice Minister of Foreign Affairs, Pahala Mansury with several countries such as Nigeria, Kenya, South Africa, held forums on industry specific topics on Mining, Agriculture, Renewable Energy, health and food security.

Ishmael Balogun, President of the Nigerian-Indonesian Chamber of Commerce and Industry led the Nigerian Business delegation to the IAF including members of Nigerian Indonesian Chamber of Commerce & Industry and several MOUs were signed.

On the sidelines of the 2nd edition of the Indonesia-Africa Forum, the 3rd edition of Indonesian Investment and Trade Forum (NIITF) 2024, took place on the 4th of September 2024 at the prestigious Mulia Resort Bali, Indonesia.

The session started with the tea break and familiarisation of participants from all around the globe.

The National anthem of both countries were recited and the President of the Chamber, Ishmael Balogun, gave his welcome remarks. This was followed by the presentation from the Chairman of Signature Global Real Estate and Standard Trust Insurance, Prof. Salawudeen Bin Ahmed who delved into the opportunities in global insurance and the services they’ve provided for over 40 years in business.

The keynote address was delivered by Yomi Benson, CEO of Sahara Energy Singapore PTE Ltd. who highlighted the growth and trajectory of the Sahara group in commodities trading, upstream, downstream, power and gas and the unending opportunities in the renewable energy space. For an organization that’s been progressive with the vision for global expansion and staff strength of 6000 plus people, there was a lot to learn from their days of humble beginnings.

The Chief marketing officer for Oxytane International Ltd, Ricky Rahardja, “makers of the No.1 fuel additive globally,” stated the great milestones achieved by the Oxytane brand and their willingness to partner with interested distributors and representatives from Nigeria.

Also at the event was the Chief Financial Officer of Signature Global Real estate, Abdulazeez Salawudeen who showcased the opportunities in investment in Dubai Real Estate and the step by step guide in achieving the dream home ownership.

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This was followed by a presentation from the Chief Executive Officer of AfroKana Ltd, “the No. 1 African Restaurant in Bali”, Felix Ezejiogu, who narrated the journey of his humble beginnings in entrepreneurship to establishing “the best African Restaurant in Bali till date”.

Also at the Bali event were the CEO of Seune Integrated Concepts Ltd, Oluwaseun Ayoade, a global logistics solutions provider and Timothy Simon, CEO of Vutomi Energy (PTY) Ltd, South Africa, a company involved in solving Africa’s energy crisis. Oluwaseun Ayoade narrated the methodologies needed to avoid the several bottlenecks associated with logistical operations in Nigeria whilst Timothy Simon spoke on his company’s rendering of solutions through Gas-fired plants, Solar PV Plants and Hydro Power plants, etc.

Participants later reconvened for the panelist session hosted by the President of NICCI, Ishmael Balogun. At the session were Yomi Benson, Sahara Group, Abdulazeez Salawudeen, Signature Global, Ricky Rahardja, Oxytane International Ltd and Felix Ezejiogu, Afrokana Kitchen Ltd.

The Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) was created in 2017 as the voice of Indonesian businesses in Nigeria, helping companies both large and small to explore and develop trade, investment and business in Nigeria and Indonesia.

The Chamber endeavours to drive the business communities in both Nigeria and Indonesia to recognize business opportunities and to be more active with each other. The Chamber works closely with the Nigerian and Indonesian trade missions such as the Indonesian Trade Promotions Council (ITPC), international partners and other chambers to support and connect our members to the best possible business opportunities for their development in Nigeria.

NICCI is Nigeria’s private sector, member driven, non-profit national business association dedicated to the sustained growth of trade, investment and services between corporate Nigeria and corporate Indonesia. Its goal is to provide the best possible platform for its members to stay informed and connected to Nigeria and Indonesia.

The NICCI assists and guides both Indonesian and Nigerian corporations intending to trade with each other by offering knowledge and experience, business and organisational linkages and research services.

NICCI is the pre-eminent bridge for doing business between Indonesia and Nigeria.