Investors have the opportunity to invest in the processing of cassava into glucose syrup in Kwara State, situated in central Nigeria.
Investment Opportunity
Cassava constitutes close to 90% of the total raw materials required for the manufacturing of glucose syrup. A large amount of cassava is currently being cultivated in Kwara State, both by the large commercial farmers as well as those operating on a small-scale.
In 2004 the Kwara State Government invited a group of Zimbabwean farmers, who lost their farms due to the government's land redistribution policy, to relocate to Kwara State. The project has been a great success and the group of 13 farming families currently produce dairy products and a variety of crops. A number of the farmers are focusing on the growing of cassava. The state government has also indentified land for a second commercial farming initiative which will bring more large-scale cassava growers on-board
Glucose syrup is mainly used in commercially-prepared foods as a thickener, sweetener, and for its moisture-retaining properties which keep foods moist and help to maintain freshness.
Reasons to Invest in Kwara State
Incentives: The Kwara State Government is willing to extend a number of incentives to serious investors. These include the provision of land and infrastructure, tax holidays and assistance with obtaining financing.
Labour: Kwara State is home to the well-respected University of Ilorin and construction of the new Kwara State University will soon be completed. Kwara State therefore has a large number of graduates who can be employed by companies investing in the state.
Cargo terminal: A new cargo terminal at the Ilorin International Airport will soon be completed and will allow for goods to be transported via air, both locally and internationally.
Power supply: Due to the recent completion of the Ganmo sub-station, the state capital, Ilorin, currently enjoys very close to 24 hours a day of uninterrupted power supply. Many business owners are delighted by the fact that they have to make very little use of generators.
Political will: The government of Kwara State is devoted to creating an enabling environment for business and investment. The state is also committed to continuity of policies which will ensure that an investor friendly environment remains even after the end of the current administration's tenure.
Investment insurance: Nigeria is a member of MIGA (Multilateral Investment Guarantee Agency) and the ICSD (International Centre for Settlement of Investment Disputes).
Contact Details Investors interested in this project should contact Fela Ibidapo, Special Assistant to the Executive Governor, Kwara State (Investments) at infonigeria@gan.co.za
