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Fr. Seamus represents the Oblate International Pastoral Investment Trust (OIP) on the advisory board of 8 Miles Private Equity Fund 8miles.com, which met in Lagos, Nigeria for two days in May. The OIP has a small position in this fund that has a presence in six African countries, including Ghana, Nigeria, Egypt, South Africa, Uganda and Ethiopia. The fund has a strong commitment to development and responsible investing and aligns well with the missionary thrust of the OIP and the Oblates.
While in Lagos, Fr. Seamus visited 8 Miles’ most recent investment, a cream biscuit factory. According to an 8 Miles company profile page on the project, Nigeria’s biscuit sector has seen strong growth of 10 to 15 per cent per annum, and they are projecting this to continue, driven by population growth, rising disposable incomes and increasing urbanization coupled with the growing popularity of biscuits as a convenience snack. According to 8 Miles, the growth in this sector is also the result of a relatively young population, with 63% of the country’s 115 million people, below the age of 25 years.
Beloxxi is a market leader in Nigeria with significant market share and has one of the most popular and highest selling cream cracker brands in the market, with a reputation for high quality. It operates several production lines from its plant in Agbara, Ogun State and multiple warehouses across the country. The Company employs about 2,300 people and operates through a network of about 400 distributors. The Company has experienced growth rates in excess of 30% per annum in the last few years.
8 Miles has identified select locations and sectors where its investment approach can be best implemented, with a focus on strong macroeconomic fundamentals, good governance, a favorable regime for foreign investors, and a track record of private sector reforms which make doing business easier.
More on Beloxxi Industries:
- Beloxxi Industries Ltd. is a biscuit producer, with the largest share of the cream crackers segment in Nigeria
- The company was established over 20 years ago as a biscuit importer and, in 2006, evolved into a local producer of cream crackers after building an ultra-modern factory in Nigeria
- Beloxxi biscuits are sold via a network of >400 distributors and supermarket chains in Nigeria, with exports to Ghana. The product is also served on international flights from Nigeria
- Market Potential: Growth in the Nigerian biscuits sector driven by increasing urbanization and rising popularity of biscuits as a convenience snack, in-between meals or on-the-go
- With a well-known brand and reputation for high quality, Beloxxi is the leading product by sales volumes in Nigeria’s cream crackers market
- Beloxxi enjoys cost and quality advantages due to a fully-automated and efficient production process. Exit potential also enhanced by world-class facilities
Nigerian Bishop Matthew H. Kukah Speaks on Church and Security Challenges in Northern Nigeria April 29th, 2016
Bishop Matthew Kukah of the Catholic Diocese of Sokoto, Nigeria recently addressed a packed room of staff from Catholic organizations, Africa-focused coalitions and a representative from the Islamic Society of North America (ISNA). The event was hosted in Washington, D.C. by Africa Faith and Justice Network (AFJN). The Bishop spoke about the challenges facing Nigeria, particularly the conditions of Sokoto in Muslim-dominated northern Nigeria, where his diocese is located.
Bishop Kukah was in the U.S. as part of a 10-day tour to raise awareness about conditions in Muslim-dominated northern Nigeria, where Christian communities live under the constant threat of Boko Haram militants. Christians there make up “about two or three percent of the population,” he noted. “They live under sharia, or Islamic law, and live under a constant threat from Boko Haram”.
Speaking extensively on the history and geopolitics of Nigeria and the impact of recent religious conflicts on Church ministry, Bishop Kukah emphasized the need for actions today that promote the common good and protect all Nigerians. He shared how local conflicts, for example, have presented challenges to their expansion plans. Present community laws limit their access to land for building more churches and schools, although diocesan schools serve all local children regardless of religion.
“The challenges in Sokoto are enormous,” the Bishop told the group, “but we are very grateful to God because we are really happy. The difficulties are making it possible and easier for us to witness about Christ.”
Bishop Kukah served as a member of the Nigerian Investigation Commission of Human Rights Violations and also shared his recent efforts to promote Muslim-Christian dialogue.
The Missionary Oblates of Mary Immaculate Nigeria mission includes parish ministries within the Archdiocese of Jos and Diocese of Orlu.
Bishop Kukah is a well-known mediator and human rights activist in Nigeria, in addition to his leadership of the Sokoto diocese. He holds a PhD from the University of London (SOAS) and a Masters in Peace Studies from the University of Bradford.
Bring Back Our Girls! May 13th, 2014
Nigerian Oblate Father Ali Nnaemeka Cornelius, OMI writes about the plight of the abducted schoolgirls in Nigeria, prays for the return of the abducted girls and urges for more actions to free them. In the article Fr. Cornelius says, “There are therefore certain reasons that brought us to where we are today. What the world maybe has not known before is that Boko Haram has been causing much other serious havoc in Nigeria over the years. The only problem is that for many reasons we have been dying in silence.”
Read the article at the weekly blog publication of the US Missionary Oblates JPIC office