Actis, a private equity investor focused solely on emerging markets, 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’ 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).
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’ 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.”