NDCCITMA, MAISTRADE Sign MoU to Unlock Investments in Niger Delta - THISDAYLIVE
The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) and Maistrade Multipurpose Cooperative Federation Limited (MAISTRADE) have signed a Memorandum of Understanding (MoU) to boost investment, agribusiness, value-chain development and access to finance in the Niger Delta.
The agreement, signed by NDCCITMA Chairman, Idaere Gogo-Ogan, and President/Chief Vision Officer of MAISTRADE, Benjamin Aduli, is aimed at identifying, mobilising, aggregating and facilitating access to investment, development finance and market opportunities for credible agribusinesses, cooperatives, micro, small and medium-scale enterprises (MSMEs) and value-chain projects across the region.
Under the partnership, NDCCITMA will serve as a strategic regional access and mobilisation partner for eligible businesses and cooperatives.
It will also support the identification and preliminary referral of credible enterprises and projects, while facilitating engagement with relevant private-sector, public-sector and institutional stakeholders.
The agreement stated that the partnership reflects the organisations’ commitment to “poverty reduction, job creation and development of small and medium scale enterprise in the region.”
MAISTRADE, on its part, will provide digital registration, project intake and profiling infrastructure, while establishing and managing a digital project pipeline and relevant data structure.
The cooperative federation will also support project categorisation and aggregation, coordinate engagements with investors, development finance institutions and strategic partners, and facilitate the integration of qualified opportunities into appropriate MAISTRADE platforms and programmes.
According to the agreement, both organisations will operate a common pipeline covering the identification, registration, profiling, aggregation, screening, qualification, matching, financing, monitoring and reporting of projects.
The joint delivery model provides that project and participant information may be considered for investment, financing and partnership purposes in accordance with applicable laws and confidentiality obligations.
The parties, however, clarified that the MoU does not constitute a commitment by either organisation to provide funding for specific tasks unless separately agreed in writing.
The agreement will remain in force for three years from the date of execution, subject to renewal or amendment by the parties.
The partnership is expected to provide a structured platform for connecting viable businesses and projects in the Niger Delta with investors, development finance institutions, markets and other strategic partners.
Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world. It is Nigeria’s most authoritative news media available on all platforms for the political, business, professional and diplomatic elite and broader middle classes while serving as the meeting point of new ideas, culture and technology for the aspirationals and millennials. The newspaper is a public trust dedicated to the pursuit of truth and reason covering a range of issues from breaking news to politics, business, the markets, the arts, sports and community to the crossroads of people and society.
You can email us at: hello@thisdaylive.com or visit our contact us page.
