A UK-based development finance institution, CDC Group, has finalized plans to invest US$425 million as an aid to 100 businesses and 38,000 jobs in Nigeria. This is sequel its partnership with 40 investment funds such as Afreximbank, African Capital Alliance and Indoram, NAN reports

In a virtual visit to the country by the board of the organization led by Chief Executive Nick O’Donohoe and Chairman Graham Wrigley, the UK Government-funded organization stated that all earnings from its investments are ploughed back to improve the lives of millions of people in Africa and South Asia.

CDC Group noted that it paid a virtual visit to the Vice President of Nigeria, Prof. Yemi Osinbajo, and British High Commissioner to Nigeria, Catriona Laing, to discuss and ascertain the impact of CDC’s aid to its investees through the COVID-19 crisis and understand how to stimulate recovery and growth. The discussions also focused on CDC’s own response to the pandemic through its preserved, strengthen and rebuild programme, the statement said.

Commenting on the rationale of the aid, Chief Executive of CDC Group, Nick O’Donohe said, “Nigeria plays a key part in our strategy of partnership and investment for economic growth in West Africa. “Hosting our 2020 board trip– albeit virtually – in both markets is a testament to our commitment. Looking forward, we will continue to prioritise the post-COVID-19 recovery as part of the Build Back Better agenda.

“We are committed to supporting a deeper and more strategic bilateral partnership between the UK and Nigeria that is based on enhancing economic development, job creation, inclusion, trade and investment,” O’Donohoe further remarked.

In a glowing tribute and commendation to the group, British High Commissioner to Nigeria, Catriona Laing CBE said CDC has been pivotal to creating jobs and supporting the growth of businesses by investing in the poorest countries across Africa, including Nigeria. “CDC’s commitment to the country signals to other UK investors that investing in Nigeria is possible and should be prioritized in order to help Nigeria and indeed, Africa, mitigate the impact of COVID-19,” the envoy said.

SOURCE: https://nairametrics.com/2020/09/23/uk-based-organization-partner-local-investment-funds-to-disburse-245-million-to-100-nigerian-businesses/

Noted

Good

This is a good and welcome development because it will create more jobs and generate more tax to the government

Investment in our nation is pragmatic to our economic development, with the effect of pandemic on the economy, no doubt this investment coupled with the ESP will cushion the effect towards impacting the lives of people.

Great

Good to know that there is hope for Nigeria

How do I key into this opportunity, any idea somebody?