Something is happening in Nigeria business ecosystem and the government is in mute mood.

Let us speak some blunt truth here, Foreign direct investment (FDI) gives more headache to national development than we know it.

Transformation of Chinese economy by local innovations is a good case study on the fact that local direct investment from high networth individual retains wealth than FDI.

Just like Jobberman where real founders lost their hard earned ideas to Venture Capitalist from Switzerland, and recently Ngcareers joined the league. The Big brother Jumia Nigeria has since been displaced to foreign owners making NYSE the happiest market place few years ago.

It's a pity our dearest Health Plus Limited [/b]may join the avalanche of ex Nigerian owned Businesses who suddenly became a foreign company to be taken over by some ‘Suspicious ’ foreign investors. The termination of her CEO - Bukky George is a bad signal to business sustainability in Nigeria.

In a chat with Nairametrics, the [b]CEO Founder Bukky George said They come, they pledge, give you some money, and stop. When the business dies, they buy at peanut.”

Personally as a private citizen, I think there is need to solve the trend of manipulative coup against Africa ingenuities . but one thing that is sure for a fact is that , private equity firms are preying on Nigerian businesses and are seeking to push their founders out.

Yes we know everyone think this is about business, But as a private citizen, I am more concerned about where the money is going than who owns what. ROI should be all investors needs and that should remain so. Your economy will be in perpetual recession in bad times when investors leaves , but those local innovation breed by local resources will always remain both in tough and good time.


Alta Semper, the UK foreign investor in Health Plus said in a follow-up press release, alleged that the decision to remove Mrs. Bukky George “was made in full compliance with Nigerian laws, and follows a long and drawn-out process of engagement,” through which the Board sought to address multiple issues concerning the way the company was being managed.

Health Plus also reported Alta Semper directors to the police last week, as observed in a document seen by Nairametrics.

In today’s statement, HealthPlus said that it had partnered with Alta Semper Capital LLC UK in 2018 to inject fresh capital to grow the business.


I think young CEOs should be weary of the act of getting foreign founds and trading equity out .
Getting legal professionals on board is also a great way to mitigate forceful takeover.

more importantly, Government must protect its own. If not we ay experience Economic colonialism sooner than expected.

https://nairametrics.com/2020/09/29/bukky-george-owns-48-9-of-healthplus-holdings-healthplus/
https://nairametrics.com/2020/10/01/healthplus-business-owners-call-for-more-protection-from-fg-against-foreign-investors/