Bissau: a boa gente de Macau

It is the smallest nation in continental Africa and does not have it’s troubles to seek, but for one Macau investor Guinea Bissau presents a ground-breaking opportunity Think Guinea Bissau and the first thing that usually comes to mind is political instability, poverty and a lack of infrastructure. Little wonder then that many entrepreneurs will not even consider investing in the smallest nation in continental Africa. Macau developer John Lo is an exception. After building a small real estate empire, he turned his attention to the tiny west African country which he saw as a strategic location for the development of trade and investment. In 2001, he opened a business with the former Portuguese colony, focusing on the import of cashew nuts, wood and rice. Now he wants to expand and invest more than 10 million patacas in a hotel and a shopping mall development. In March 2008, Mr Lo and his associates found a suitable property in the Guinean capital, Bissau, where they want to create a five-star hotel with 80 rooms. The plan is to offer accomodation and services for business people who travel to Bissau and have very limited options. Despite the apparently business-unfriendly environment in Guinea Bissau at present, Abdul Omar, a senior consultant for Mr Lo’s company, Excelente International Group said: “There are great possibilities for business.’’ First, unlike other African countries, Guinea Bissau’s currency, the West African Franc, is very stable. In addition, the country has a large supply of mineral resources, such as wolfram and aluminium. “The land is also very fertile and we are eager to help to develop the agricultural sector,’’ says Mr Omar, adding: “John has been strengthening the links with Guiena Bissau and Guineans in Macau. Last year he sponsored the creation of the Association of Guineans in Macau and offered scholarships to Guineans who are studying in Macau. He has also been active in donating money and goods to charity organizations working in the country.’’ Mr Omar said Excelente International Group wants to widen investments and trade in the future and after the hotel, Mr Lo will pursue another dream: to invest with a local partner in a domestic airline company. Good relations with the country’s president Nino Vieira can open doors but, as Mr Omar adds: “In Africa we need to be patient when it comes to businesses.’’ by Jose Carlos Matias macaubusiness.com