Realizing the potential for quite a large investment value opens up more opportunities for Indonesian industry players to expand their market to Africa.

Dewi Justicia Meidiwaty, Director for African Affairs, Directorate General of Asia-Pacific and Africa Affairs of the Ministry of Foreign Affairs, made the statement on Tuesday (3 September 2024) in Nusa Dua, Bali.

"One of these potential sectors is the cosmetics business. For instance, an Indonesian company, PT Tirta Ayu, has succeeded in exploring market expansion to Zimbabwe by opening a franchise, which will be agreed upon soon," said Meidiwaty.

In addition to Zimbabwe, PT Tirta Ayu planned to build a cosmetics factory in Eswatini. The manufacturing, textile, chemical, and footwear sectors dominate Indonesia's exports to Eswatini. Expanding Indonesian companies into the cosmetics sector will further diversify the country's product market.

In addition, four Tanzanian companies, PT Essa Industries, Tanzania Petroleum Development Corporation (TPDC), Tanzania Fertilizer Regulatory Authority (TFRA), and Tanzania Investment Center (TIC), signed a Memorandum of Understanding with Indonesia to build a natural gas processing plant into ammonia/fertilizer.

"It is in line with both countries’ efforts to support food security in the future," said Director Meidiwaty.

Nigeria is also the target of Indonesian businessmen in the food technology sector, including PT Saputra Global Harvest, which will sell coal-fired fertilizer production equipment.

In addition to cosmetics, fertilizers, and agricultural technology, an Indonesian company, PT Investasi Cemindo Gemilang, has acquired the Alpha Ciment SA, a cement factory in Madagascar, through a partnership with Gamma Civic of Mauritius.

Through the 2nd Indonesia-Africa Forum, the achievement of various business agreements is expected to continue to be a frontrunner and provide legal certainty for business actors from Indonesia and Africa to expand their businesses in both regions. (Kemlu/TR/Elvira Inda Sari/WS/SC).

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For more information, please contact:

Director for Information and Media Services, Ministry of Foreign Affairs – Hartyo Harkomoyo (0811831899)