Actis has been named the foremost UK inward investor into Nigeria by the UK Trade and Investment arm of the British High Commission, Abuja.
The award recognises Actis as the UK investor to have made most impact in Nigeria. Actis’s activities on the ground in West Africa include large scale projects such as the US$100m Ikeja City Mall (June 2010) and most recently the 100% acquisition of designer wax fashion fabrics company, Vlisco Group (September 2010). Actis is committed to building world-class profitable companies which contribute to the healthy development of the local economies.
Speaking in Lagos, Ngozi Edozien, Chief Executive of Actis West Africa said: “This award is recognition of the tireless work of our team in Nigeria over the years, with invaluable support from our London head office. Actis has been in Nigeria since independence and has a long held commitment and belief in the country. We believe our private equity investments across a range of sectors will help further development over the next 50 years.”
Commenting on the award win, Peter Schmid, Head of Africa at Actis, said, “To be singled out for this award is a great honour given Nigeria’s profile as a powerhouse of entrepreneurial energy and growth in Africa. Actis’s approach is to combine a strategic global perspective with deep sector expertise and local connections to support Nigerian companies in achieving their potential. We look forward to continuing our success in Nigeria and throughout Africa.”
Speaking at the awards ceremony, the Director of UK Trade and Investment in Nigeria, Peter Stephenson said: “I would like to congratulate Actis for winning this award. Their commitment to investing in Nigeria is commendable and the award recognises the level and quality of the investments that they have made over the years.”
The award ceremony was held on 29 September 2010, at the Civic Centre, Ozumba Mbadiwe, Victoria Island, Lagos as part of the celebrations marking Nigeria’s 50 years of independence.