Odu’a Investment Company is set to partner Nigeria Philanthropy Organisation and Impact Investing (NPO), domiciled in the office of the Vice President, to create business opportunities and financial support for over 500 Small and Medium Scale Enterprises (SMEs) in South West and create jobs for the unemployed in the country.
Speaking during a courtesy visit by NPO to Odu’a Investment Company Limited Office in Lagos on Thursday, the pioneer Chairperson of NPO), Mrs Thelma Ekiyor-Solanke, said her team visited the conglomerate for partnerships “because Odu’a Investment has strategic partnership role to play in the South-West, especially in of agriculture, renewable energy, furniture, bead making and fashion.
“We were received by the Board and management of OICL and we believe that this is just the beginning of a successful partnership.”
On the outcome of the partnership, she added that after signing an MoU with Odu’a Investment, we will host investment forums with Odu’a Investment for startup entrepreneurs because the major aim of the partnership is to create jobs in Nigeria.”
Group Chairman Odu’a Investment Company Limited, Otunba Bimbo Ashiru, said the focus for the company is “to take ownership in the South West because the owners of Odu’a Investment are the government of the South West States.
“So, we are using the office of the Vice President to navigate to our people so that all the things that need to come to South West will be distributed evenly amongst the six South West states. We are looking at a forum that will be held in Lagos with all the six South West state governors in attendance.
“The partnership is a way to give back to our people and encourage them to invest in businesses that will make them happy.”
Otunba Ashiru added that the aim of the partnership with NPO is to target SMEs who employers of are 80 percent of labour.
He said: “Their focus is on how to get funding and that is the area we are looking at so that we can assist them to have access to funds that will be single digit interest rate and it will help as we will also give them grants. Those are the areas we are currently looking at.
“Our target for the partnership is to help between 500 1,000 SMEs so that poverty can be reduced in South West states.”
The MOU signing ceremony with Odu’a Investment Company Limited and other partners from other regions is expected to hold before the end of July in Abuja, where the Vice President will be in attendance.
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