South African firm to aid Nigerian mining sector

miningA-Julien Harneis flickrThe IDC of South Africa offers financial aid focusing on economic growth and industrial development for start-ups. (Image source: Julien Harneis/Flickr)The Industrial Development Corporation (IDC) of South Africa has announced that it will invest in Nigeria’s mining sector

IDC said that it was prepared to partner with local investors in the development of project plans, financing and executing, provided the cost is not less than US$10mn.

Ashley Petersen, senior business development manager of IDC, Africa Unit, said, “Nigeria’s huge population and natural endowment places it as a destination for sustainable investment.

“It is one of African’s huge markets and we are here to invest in mining as well as forestry.”

Peterson added that South Africa was also working hard to achieve the inter-Africa trade policy of the African Union (AU).

“The success of trade policy in the continent will promote stronger cohesion and better understanding among countries,” he added.

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