The Bank of Industry (BoI) has partnered DAI- Market Development in the Niger Delta (MADE) and leather product manufacturers to drive production in the country.
A Memorandum of Understanding (MoU) was signed between MADE and BoI-Investment and Trust Company (ITC), a subsidiary of the BoI.
The Managing Director, BoI, Investment and Trust Company (ITC), Betsy Obaseki, explained that its mandate was to stimulate and drive industrial development pointing out that it had identified the Aba cluster as a potential hub for the sector.
According to her, the partnership would see artisans in finished leather goods get access to N500, 000 working capital and N10million for purchasing equipment to improve quality and productivity.
The Intervention Manager, MADE, Dr Abimbola Adeyinka, said the partnership was to address issues bothering on access to finance.
