Odu’a Investment Company Limited (OICL) and the Nigerian Office for Philanthropy and Impact Investing have signed a Memorandum of Understanding(MoU) towards the provision of grants for MSMEs in the South-West states. The MoU was signed recently by officials of both organisations at the Job creation and MSME Secretariat, BOI Building, CBD, Abuja. The MoU is geared towards providing funding for startups in order to develop and grow businesses in critical sectors, including Agriculture, renewable energy, fashion and furniture manufacturing.
It intends to ensure parties work together towards providing funding for businesses in the six south-west states to spur socio-economic growth of the region for enhanced contribution to national economy. Mrs Thelma Ekiyor-Solanke, Chairperson of the Nigeria Office for Philanthropy and Impact Investing, said the MoU is part of roadmap towards ensuring the office fulfill its mandate by working with relevant stakeholders. “We are pleased to work with our first batch of partners, engaging in different areas of interest, so that when each person brings what they are good at we get a whole.
” “We hope that through this partnership we will be able to unlock skills and capacity-building advantages. “After this, we hope it will encourage more and more people to partner with the government in this area because the high rate of unemployment has caused social problems and insecurity. Mr Abdulrahman Yinusa, Group Managing Director/CEO, Odu’a In.
