‘We connect foreign investors with local firms’

Barrister Osita Oparaugo, managing director, Footprint to Africa, is a renowned lawyer and entrepreneur. Oparaugo spoke with JOSEPHINE OKOJIE on the recently signed MoU between Footprint to Africa and ministry of small and medium enterprises in Kinshasa, DRC

What is the partnership with DRC ministry of small and medium scale enterprise all about?

The partnership between Footprint to Africa and the ministry of small and medium scale enterprise will produce the first ever investors forum in Democratic Republic of Congo (DRC)  Kinsahasa, which is going to be one of the best forum that has happened in the .The forum will focus on five sectors of the DRC economy and it will be held in December.  We will partner the local businesses with foreign investors.

The greatest challenge SMEs face all across Africa is access to fund how is Footprint to Africa addressing this issue through this forum?

The forum is not about giving lectures to businesses, it is a practical, high tailored forum where the ministry of small and medium scale enterprise in DRC is mandated to bring 150 businesses that are already operating in the country in the five key sectors the forum is focusing on and Footprint to Africa will bring foreign investors that operate in similar business with this businesses and go into partnership. This implies that funding will not be an issue because it will be more of partnership and mentorship.

Have Footprint to Africa partnered with the government of Nigeria?

We are yet to partner with the government of Nigeria or any agency in the country. But talks are on the way to partner with the government and various agencies. It will interest you to know that Footprint of Africa and the government of Cross River have partnered to host the Calabar Wine fair next year between 10th-15th February, 2016. The fair will attract at least over 500 thousand wine manufacturers in the world.

What does this forum have for micro and small businesses?

The forum is not about size of a business. The forum is focused to bring in investment into DRC irrespective of size. Every business that has the appetite for DRC and for Africa is welcome to the forum. The forum is also focused on strengthening Africa trade cooperation.

Doing business in Africa is difficult, how is Footprint to Africa addressing this issue to attract investors to Africa in the SMEs space?

We identify and recognize the fact that doing business in Africa is very challenging. Majority of these challenges the investors face while investing in Africa are psychological.  This is why we have the media arm in Footprint to Africa to educate the investors that yes it is difficult to do business in Africa but it is necessary for these investors to understand our culture.

What should President Muhammadu Buhari do for s MSMEs?

The Buhari administration should concentrate on rebuilding Nigeria. Diversify the economy away from oil and encourage businesses operating in the country.

What have Footprint to Africa done in Nigeria?

Footprint to Africa have done a lot of interviews with big players in various industry and these interview have attracted the right audience to those businesses and we have also supported some businesses that have showed interest to come into Nigeria.