CFGNiger – INVESTMENT OVERVIEW
Niger is no different from the majority of African countries in that it continues to face enormous pressures and challenges whilst trying under extremely difficult circumstances to reduce poverty and hunger throughout the country
Niger’s Government is adamant that it will take whatever steps are necessary to become more proactive in freeing up the country’s economy to attract foreign investment, encourage privatisation and to increase imports and exports. The Government is well aware that Niger must become an attractive investment destination and to achieve this aim it has implemented a series of new investor codes; it has increased transparency; simplified taxation and customs procedures. The various ministry offices are open for business
Let’s look at some of the relevant sectors:
Infrastructure: It is true to say that building infrastructure is the highway to sustainable growth which leads to wealth creation. Niger is in need of strong foreign investment to modernise, upgrade, renew and expand the existing roads, power and telecommunication systems.
The present road system will need upgrading and expanding to cater for increased heavy traffic from the mining and agriculture sectors,This will include upgrading existing maintenance outposts. There is no railway system.
The present telecommunication systems require a complete overhaul, then upgrading and expanding to cater for the population and the much needed value added services together with the high growth in internet traffic. This should have a knock on effect and create thousands of new jobs through cyber cafés, card distributors, private tele-centres and tele-services companies
There are two major airports both of which have the capability of handling a much larger number of commercial and cargo flights including even a national Niger airline. The airport in Niamey has International status.
The present agriculture programme is also in urgent need of external funding. The majority of crops are rain dependant and the recent droughts have severely tested the country making it a net importer of food on an extremely large scale and very dependant on foreign aid. The Government welcomes funding for the development of its agricultural markets in order to achieve growth and in the agribusiness generally. Animal husbandry is also an important contributor combining the production of meat, milk and eggs together with the hides/fleeces for leather and woollen products. New water irrigation systems will play an essential role in carrying out a successful programme This sector offers a variety of different funding methods and has great potential.
Energy production must be increased substantially as the current electrical power is insufficient to meet the country’s needs and the Government has drawn up a new development programme which includes the construction of new facilities and civil engineering projects. Niger’s petroleum and natural gas resources have yet to be fully explored and their potential is enormous. The Government needs to reduce its present dependency on imported oil and coal by developing its own oil, gas and coal fields. Other energy sources can also be investigated such as solar and biofuels.There are unlimited opportunities to invest in the energy sector.
Niger’s wealth has historically come from its minerals and in particular from its uranium deposits. However Niger is blessed with a substantial array of other minerals and the Government is now extremely keen to welcome foreign investment to explore and develop its mineral wealth. The Mining Code now allows for greater exploitation with many added attractions in such areas as tax and profit taking. Minerals include gold, iron ore, copper, diamonds, gypsum, lithium, coal and oil,
The Government has issued its 12 point rejuvenation programme which we can make available to you upon request
We can also introduce you in Niger to all the appropriate officials in your particular sector so please contact us as your first point of call as we can definitely assist your trip in Niger and help you to achieve your objectives. Carrying on business in Niger is no different to many other African countries and you need a company that knows its way around to ensure you meet the right contacts.