Iranian Investment Company, Kouros Capital Group Limited (KCG) is targeting Nigeria as its entry point into Africa following plans to pour investments worth millions of dollars in the country’s key economic sector.
KCG, a part of the Iran-Nigeria Investment Corporation says it intends to support a closer economic relation between the two regional economic giants through investments in agriculture, telecommunications and the banking sectors.
During his visit to Nigeria this week; KCG chairman, Kouros Jahangiripoor said the organisation is particularly drawn to Nigeria given its economic growth and fiscal management.
Jahangiripoor says KCG has eyes on the Nigerian Telecommunications Limited (NITEL) and the three nationalized banks – Enterprise Bank, Mainstreet Bank and Keystone Bank- slated for sale by the Assets Management Company of Nigeria (AMCON).
Executive Director at KCG, Amir H. Amiri explained that the group is banking on the fast pace of Nigerian economic expansion and population growth to pave way for demands of new and improved infrastructure.
The recent economic rebasing and the Nigeria Communications Commission (NCC)’s foreign investment campaign may have played a very large role in KCG interest.
The group is a major investor in the Middle East Gibraltar with major investment in banking, construction, as well as in hotels and resorts.
KCG will be working with Dextel Nigeria Limited to carry out its West Africa project portfolio which will not only benefit Nigeria, but the West African region.