COFIDES will contribute 180,000 euros to DeltaComGroup Ingeniería S.A. towards the implementation of a repair centre in Lagos, Nigeria. This financing is provided through a co-investment instrument taken from COFIDES´s own resources (25%) and the FONPYME Fund (75%). The total investment, including the promoter´s contribution, amounts to 260,000 euros.

DeltaComGroup operates in the telecommunications repair service sector for telecommunications operators, equipment manufacturers and other companies which have a similar infrastructure (electrical, rail and gas operators and public administrations).

With the implementation of this repair centre, the company intends to provide services to its clients in this country, as well as to expand its business contact network in Nigeria and on the African continent.

Nigeria is the largest country in Africa and it has an estimated population of 178.5 million inhabitants. It is the second biggest economy on this continent, just behind South Africa. In the last decade, Nigeria has become the greatest telephone market in the African and Middle East region, with more than 140 million users.

COFIDES´s Chairman, José Luis Curbelo, highlighted the importance of supporting the Spanish companies which grow internationally, since "in addition to strengthening their competitiveness, they also help generate development and progress in the destination of their investment".

DeltaComGroup is a SME comprised of several subsidiaries. Some of these subsidiaries are commercial and productive branches, such as the Spanish, Russian, Mexican and Nigerian ones, and others are commercial subsidiaries -in Germany, the Netherlands and the United States. Based in San Sebastián de los Reyes (Madrid), the company has 61 employees in Spain.

COFIDES is a public-private company which has been offering financial support to Spanish companies investing abroad since 1988. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism. Shareholders include Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander, Banco Popular, Banco Sabadell and CAF-Development Bank of Latin America.

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