Economic relations between Nigeria and Germany received a boost in Lagos on Wednesday with the inauguration of the first German financial support and solutions desk for companies in the country.
The News Agency of Nigeria (NAN) reports that the desk was initiated by the Association of German Chambers of Commerce and Industry in partnership with Access Bank.
Mr Andreas Wenzel, the chamber’s Economic Relations Director for Africa, said the desk, which was already operating in Peru and Kenya, would help facilitate business transactions between German and Nigerian companies.
“We do know that Nigeria is the largest economy in sub-Saharan Africa. And for German’s investment in West Africa, it is crucial for us to provide financial support and solutions for Nigerian companies.
“The German-Nigerian Financial Support and Solutions Desk would definitely fill the gap in terms of finding solutions to specific small and medium size companies’ financial needs, irrespective of their partners.
“We are really prepared to assist Nigerian businesses to do more businesses with different German companies through this desk,’’ he said.
Wenzel said that the desk would enable companies gain more access to financial support solutions via point of contact that combines Access Bank products and services.
According to him, the services include the setting up of a bank account through trade finance products for local companies wishing to acquire German equipment.
He said Nigerian companies would also be assisted in the process of preparing foreign direct investments in Nigeria from the combined network of Access Bank and German chambers of business.
Speaking at the inauguration, the Managing Director of Access Bank, Dr Herbert Wigwe, said that the bank would liaise between German and Nigerian companies.
“We are going to be serving as a financial intermediary between German companies and Nigeria based enterprises.
“We are also going to help hand-hold German companies, who do not want to come to do business in Nigeria to happily come in and do businesses with Nigerians and in Nigeria,’’ he said.
According to him, the desk would be of benefit to Nigerians, especially now that the country was coming out of recession.
Wigwe also said that the desk would further strengthen the long existing relations between Nigeria and Germany in the years ahead.
“We hope to henceforth alter the narratives that have always been about Nigeria and Germany’s business relations,” Wigwe said.
German chambers partner Access Bank in supporting Nigerian companies
