Heirs Holdings and a Moroccan bank, Banque Centrale Populaire, have signed the Memorandum of Understanding to collaborate on co-financing, and exchange of information encouraging investment opportunities across Africa.
Both organisations bring relevant experience as they work together to find new ways to create African solutions to African development challenges.
The framework document, which outlines cooperation areas between Heirs Holdings and BCP, was signed by the Chairmen of the companies, Mr. Tony Elumelu, and Mr. Mohamed Benchaaboun respectively.
Also, Elumelu signed an investment and cooperation agreement with Attijariwafa Bank on behalf of United Bank of Africa.
Both organisations, which have invested significantly in growing pan-African networks, will collaborate to identify common areas of interest and encourage investments in Morocco, Nigeria and Africa as a whole.
Elumelu said, “This is an opportunity for the private sectors of both countries to collaborate to leverage on opportunities for sustainable economic growth. It shows that our leaders are committed to intra-African trade and to prioritising commercial relationships across borders. As businesses that both share a Pan-African perspective, we recognise the importance of intra African trade as a pillar of the continent’s economic transformation.”
Benchaaboun highlighted the opportunities in Nigeria and beyond in Sub-Sharan Africa. He said this agreement marks the beginning of a long-term partnership that will deepen African integration and help build confidence in our countries, as well as the continent as a viable investment destination.
Meanwhile, President Muhammadu Buhari and King Mohammed VI of Morocco have signed bilateral agreements, aimed at strengthening economic ties between Nigeria and Morocco.
Information available to the Point said the agreements cover the areas of investment, training, youth skills-building, oil and mining, tourism, infrastructure, banking, finance, insurance, logistics and represent the desire on the part of both countries to deepen political and economic ties.
