RMB Nigeria Increases Investment in Domestic Economy


The subsidiary of South Africa’s Rand Merchant banking group, RMB Nigeria, has raised its stake in the actualisation of the nation’s growth model – the Economic Recovery and Growth Plan (ERGP), with investments, financing and range of products and services, worth billions of Naira.

The move, which is part of the bank’s role as a corporate and investment bank, has already seen the bank script a long-term strategy of supporting the economic blueprint in the six-sector targets to drive growth.

Speaking with the Managing Director of the bank, Michael Larbie, he said the decision to play big in the realisation of the document’s ideals stems from the belief that once the economy thrives, all the stakeholders will benefit, including his bank.

See: Investing in The Technology Industry

Already, RMB Nigeria has made remarkable contributions to all these sectors, thus helping to realise the increasing national productivity, growth in the economy, and diversifying production, as well as the gradual return of the overall fundamentals.

“Agriculture faces a number of challenges including limited access to financing, climate change, limited access to national and international markets, security threats and destruction of farmlands by herdsmen.

“RMB Nigeria has contributed to the sector by providing a trade and working capital facility to Olam Nigeria (flour business), and Wacot (cotton ginning).

See: FG Approves N10.7bn for The Establishment of 10 Rice Mills 

It has also assisted in the creation of a local agricultural giant through advising the BUA Group on the sale of its wheat milling, pasta and flour manufacturing assets, which helped reduce food imports as it became a net exporter of major agricultural products.

“It has supported Nigeria’s ERGP by providing Indorama Eleme Petrochemicals funding to grow its fertilizer business to increase agriculture output, reduce reliance on fertilizer imports, and become an exporter of agriculture products,” a statement from the bank affirmed.

FG Targets Fresh Investments In Auto Industry

Previous articleEvery Nigerian Entrepreneur Deserve Some Accolades
Next articleNAHCO Shareholders to Receive N406m Dividend
Bethel Chigozirim
Bethel Chigozirim is a passionate Writer, Editor, Speaker, Poet, Blogger and a bunch of many creative abilities. A trained Information Professional @Abia State University, a Public Speaker/Corporate Presenter and also a Certified Project Management Professional. She is a calculated risk taker with deep tech knowledge on investment, inspiration and lifestyle, with many online and offline publications to her credit. She is a Writer and Editor for Investment Watch; and most of her publications are geared towards inspiring people towards the right investment, Investment Opportunities, Personal Finance, Economy and Investment News. When she's not speaking, writing or exploring any of her creative abilities, you sure can find her reading, conversing with family and friends or finding a solution to a problem for the 13th Billionth time! You can follow/contact her by clicking any of the below: