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Coega SEZ hosts Global Aux CEO in effort to advance co-development plans

Global Auxiliary of Companies (Global Aux) CEO Mika’il Ali Kote (centre) with the Coega Development Corporation delegation at the Coega Business Centre in Gqeberha

Global Auxiliary of Companies (Global Aux) CEO Mika’il Ali Kote (centre) with the Coega Development Corporation delegation at the Coega Business Centre in Gqeberha

12th December 2024

By: Darren Parker

Creamer Media Senior Contributing Editor Online

     

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The Coega Development Corporation (CDC) recently hosted Global Auxiliary of Companies (Global Aux) CEO Mika’il Ali Kote to the Coega Special Economic Zone (SEZ) in the Eastern Cape.

Global Aux is a group of specialised companies working in sectors such as oil and gas, procurement, trade facilitation, agriculture and agricultural processing.

The visit was aimed at advancing project co-development and technical advisory cooperation for Nigeria’s Gulu Integrated Agroprocessing Industrial Park (GIAIP), under the umbrella of the Coega Africa Programme (CAP).

Kote’s visit built upon the momentum of the South Africa-Nigeria Binational Commission held in Cape Town on November 28, which was aimed at enhancing bilateral relations.

“We are here to advance our initial partnership discussions relating to the GIAIP and other developments in proximity to and into northern Nigeria. The ultimate objective is to replicate what the Coega SEZ has achieved, but in Nigeria,” Kote said.

CAP director Idriss Mouchili emphasised the need for concrete steps to advance the project in line with CAP’s mission to intensify business outreach efforts outside of South Africa.

These steps include a site visit to assess project scope and feasibility, the formalisation of a project development and management agreement, the development of a comprehensive project master plan, and the exploration of potential funding sources and requirements, besides others.

CDC currently has a memorandum of understanding (MoU) with Global Aux, in addition to a technical partnership and co-development agreement. A project development and management agreement is expected to be signed in the near future.

“As countries seek to enhance their competitiveness, the establishment of SEZs and industrial parks has emerged as a key strategic tool for attracting sustainable investment and fostering economic development. 

“Recently, CDC attended an SEZ conference in Kenya, where the importance of collaboration between African companies was emphasised.

“We welcome this collaboration with Global Aux, and we are excited to engage with like-minded entities to improve continental integration,” CDC programme director of client solutions Dr Siyabonga Simayi said.

He said the CDC was open to collaborating with African nations to address trade and investment challenges and create a conducive environment for business growth.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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