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| Dr. Amy Jadesimi, (Middle) Mrs. Gail Klintworth (Right) and Mr. Robbie Marwick (Left) from Systemiq collected the P4G award for Sustainable Special Economic Zones recently in New York. |
The Managing Director of Lagos Deep Offshore Logistic
Base, LADOL, Dr. Amy Jadesimi, alongside Mrs. Gail Klintworth and Mr. Robbie
Marwick from Systemiq collected the P4G award for Sustainable Special Economic
Zones.
The award was given for LADOL’s work so far in
developing plans and partnerships focused on transforming special economic
zones in Nigeria, Ethiopia and Kenya into vibrant hubs of low-carbon,
sustainable and inclusive business and community growth.
developing plans and partnerships focused on transforming special economic
zones in Nigeria, Ethiopia and Kenya into vibrant hubs of low-carbon,
sustainable and inclusive business and community growth.
The award ceremony took place after a morning session
during which Dr. Jadesimi presented LADOL’s past, current and future plans to
the international audience of business leaders attending the P4G Acceleration
Workshop.
during which Dr. Jadesimi presented LADOL’s past, current and future plans to
the international audience of business leaders attending the P4G Acceleration
Workshop.
She said: “Sustainable Special Economic Zones can
transform low income high growth countries into global industrial and
technology power houses, creating millions of jobs in the process. The P4G
platform is ideally suited to encouraging, incubating and launching these Zones
because it focuses on equitable partnerships lead by local entrepreneurs and/or
governments.
transform low income high growth countries into global industrial and
technology power houses, creating millions of jobs in the process. The P4G
platform is ideally suited to encouraging, incubating and launching these Zones
because it focuses on equitable partnerships lead by local entrepreneurs and/or
governments.
“Over the next decade, countries like Nigeria can make
a huge contribution to achieving the Sustainable Development Goals if the local
private sector companies that are building capacity and adding value
sustainably, are supported. This support must come in the form of financing.
Nigeria has sufficient capital available locally to get the ball rolling and
transform thousands of small to large companies into significant market
players.
a huge contribution to achieving the Sustainable Development Goals if the local
private sector companies that are building capacity and adding value
sustainably, are supported. This support must come in the form of financing.
Nigeria has sufficient capital available locally to get the ball rolling and
transform thousands of small to large companies into significant market
players.
“However, both local and international funding is not
yet going where it should particularly in terms of what will yield the highest
return to investors. It is now an incontrovertible fact that sustainability
equals profitability. I’m encouraged to see the shift in the global investment
community towards ESG and sustainable investments as a preferred asset class.
yet going where it should particularly in terms of what will yield the highest
return to investors. It is now an incontrovertible fact that sustainability
equals profitability. I’m encouraged to see the shift in the global investment
community towards ESG and sustainable investments as a preferred asset class.
“However, we now need to see action in the form of new
criteria for bankability and now financial products that make it possible to
directly fund sustainable indigenous private companies, from the smallest to
the largest.”
criteria for bankability and now financial products that make it possible to
directly fund sustainable indigenous private companies, from the smallest to
the largest.”
On the issue of financing, Dr. Jadesimi urged P4G to
support a universally accepted rating / benchmarking system for sustainability
that will enable investors to include sustainability in credit rating analysis
as a key criterion.
support a universally accepted rating / benchmarking system for sustainability
that will enable investors to include sustainability in credit rating analysis
as a key criterion.
Even if sustainable companies do not meet the currently
popular but highly restrictive and negative yielding definitions of
bankability, this new benchmark would ensure that the right companies get
funding and that their investors benefit from higher returns. Private
indigenous companies in high growth / low income countries are suitable
investment vehicles.
popular but highly restrictive and negative yielding definitions of
bankability, this new benchmark would ensure that the right companies get
funding and that their investors benefit from higher returns. Private
indigenous companies in high growth / low income countries are suitable
investment vehicles.
“LADOL has already started diversifying and targeting a
range of clients from agriculture to general manufacturing and green energy
companies. We want to attract the brightest companies and people into LADOL to
partner, engineer and manufacture new industrial solutions for the world’s
fastest growing markets, i.e. countries in Africa,” she said.
range of clients from agriculture to general manufacturing and green energy
companies. We want to attract the brightest companies and people into LADOL to
partner, engineer and manufacture new industrial solutions for the world’s
fastest growing markets, i.e. countries in Africa,” she said.
Regarding the ACFTA Dr. Jadesimi reiterated her strong
commitment to regional African collaboration: “I believe in a strong united
free market AU, where African countries collaborate to build our local markets
by sharing ideas, people, resources and markets.
commitment to regional African collaboration: “I believe in a strong united
free market AU, where African countries collaborate to build our local markets
by sharing ideas, people, resources and markets.
“Strong Governments in African countries and indigenous
private companies will then be in a position to form equitable international
partnerships, based on an alignment of incentives, mutual respect and shared
long-term vision.”
private companies will then be in a position to form equitable international
partnerships, based on an alignment of incentives, mutual respect and shared
long-term vision.”
“Innovation must be done in our local markets – LADOL
is investing in creating an environment where a wide range of local
entrepreneurs, engineers and innovators can design solutions in Nigeria for
Nigeria – let’s industrialise Africa.”
is investing in creating an environment where a wide range of local
entrepreneurs, engineers and innovators can design solutions in Nigeria for
Nigeria – let’s industrialise Africa.”
