• Friday, March 29, 2024
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French week 2019 offers networking opportunities for France, Nigerian businesses

french week 2019

The Franco-Nigerian Chamber of Commerce and Industry (FNCCI) is holding its annual French Week Celebration from November 22 to 29 in Lagos, an epic celebration that will bring together business figures from France and Nigeria in an atmosphere of networking and business exchanges, the organisers say.

French Week which has been organised for the past 30 years has become a veritable platform to promote bi-lateral business relationship between Nigeria and France.

“France-Nigerian relations have improved over the years,” says Laurence Monmayrant, French Consul General to Nigeria in an address at a press conference in Lagos.

Monmayrant said that France is an important trade partner for Africa and is the second-largest exporter to the continent so the goal is to enhance partnerships between French and African businesses in order to create new forms of cooperation.

L-R Jean Guyonnet-Duperat, regional director Propaco, Jan Gwenole, economic counsellor, French embassy, Eric Jeanneau, the chairman of FNCCI, Laurence Monmayrant, French Consul General to Nigeria, Moses Umoru, director-general of FNCCI, at the press conference announcing the French Week in Lagos on November 13

“We expect that 2019 would account for more investments as French companies continue to show interest in the Nigerian economy,” Monmayrant, the first female French Consul General said.

Nigeria is France’s biggest trade partner within the Sub-Saharan African region with over 4 billion euros in trade in 2018, from about 3.6 billion euros in 2017. Nigeria is also the 9th largest trade partner of France in the world ahead of countries like Canada and Singapore.

“The goal of the French Week is to sustain this partnership and even create an opportunity for Nigerian firms to also increase trade with France,” says Moses Umoru, director-general of FNCCI.

Access to capital, identified as a key constraint to the growth of local business, limits Nigeria’s ability to achieve a balance of trade with its partners, the organisers say the French are seeking to achieve real bilateral trade relations hence they are access to financing.

Jean Guyonnet-Duperat, regional director Propaco, said that institutions like ADB and Propaco have made available funds to support both government agencies and businesses in Nigeria. So far different governments in Nigeria have benefited from loan facility of up to 2 billion euros.

“President Macron announced a 2.5billion euros fund to support small businesses around the world and it is also open to Nigerian businesses,” said Guyonnet-Duperat.

Guyonnet-Duperat said that in the past, credit lines were opened with financial institutions allowing equity participation in Nigerian businesses but now, they were ready to deal directly with small businesses.

Jan Gwenole, economic counsellor, the French embassy said there are about 130 French companies in Nigeria and they are present across different sectors including oil and gas, agribusiness, technology, food and beverages and transport sectors.

“Nigeria is now the second biggest investment destination for French companies after Morocco,” Gwenole said and accounts for over 9.4billion euros worth of investments in 2018.

On his part, Eric Jeanneau, the chairman of FNCCI said that the chamber is ranked one for the most vibrant and dynamic bi-lateral business ecosystem in Nigeria.

“As a formidable ecosystem, we are always in the fore-front in advocacy and continue to create a dynamic platform for business exchanges between French and Nigerian companies. This year we have successfully hosted 5 business breakfast sessions that focused on key areas like healthcare, digital innovation and the economy.

“As part of our activities this year, we led a team of 10 Nigerian companies to France to prospect in the agribusiness sector, we also partnered with business France to recruit Nigerian companies for the just concluded ambition Africa b2b event in Paris and we work closely with the Nigerian embassy in France,” said Jeanneau.

According to Umoru, this year’s event will see new features apart from the regular New wine ceremony, sporting activities and even a women in business forum has been included to make the event deliver greater value and strengthen bilateral relations.

Dignitaries expected include the Yemi Osinbajo, Nigeria’s vice president as well the Lagos state governor and heads of Nigerian and French businesses.