Odu’a Investment Company Limited and the Nigerian Office for Philanthropy and Impact Investing (NPO), have signed a Memorandum of Understanding (MoU) to enhance funding for Micro, Small, and Medium Enterprises (MSMEs) in South-West Nigeria.
According to a statement, the funding will focus on critical sectors including agriculture, renewable energy, fashion, and furniture manufacturing.
“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,” Thelma Ekiyor-Solanke, Chairperson of the Nigeria Office for Philanthropy and Impact Investing said.
Ekiyor-Solanke added: “We hope that through this partnership, we will be able to unlock skills and capacity-building advantages. This collaboration aims to encourage more partnerships with the government, addressing the high unemployment rate that contributes to social problems and insecurity.”
Abdulrahman Yinusa, Group Managing Director/Chief Executive Officer of Odu’a Investment Company Limited, highlighted the importance of this partnership in achieving impact investing in the South-West region.
He noted that the collaboration seeks to balance economic development with social goals, focusing not just on profitability but also on employment generation and environmental sustainability.
“In impact investing, you want to go beyond profit and loss and consider how many people are getting employed and how sustainable the developments are. This partnership aims to create jobs for our people and protect the environment,” Yinusa said.
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