Blessing Ibunge in Port Harcourt
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.