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Nigerian businesses and infrastructural projects are going to benefits from the African Infrastructure Development Partnership (AFIDEP) Switzerland funds as the organisation has appointed Lola Okanlanwon as the country’s representative for ease of access to their credit facilities.
The appointment of a Nigerian representative is to ensure that small and medium size businesses and government projects get the needed information that would enable them access credit facilities provided by AFIDEP.
“We are a platform that gives access to investors who might not see Africa as a place to invest and we get Non-Governmental Organisations (NGO) to fund projects that businesses and governments do not have enough capital fund,” Dayo Ogunsola, executive director, AFIDEP during a region forum held in Lagos recently by the organisation.
“It could be loans or could be equity injection and we look for owners of businesses, we ask how much they want and we merge them with investors,” said Ogunsola.
According to Okanlanwon who also spoke to journalists, said that she was in Switzerland onbehalf of the NNEW Micro Finance Bank to raise a $2million fund for the bank when the appointment was confirmed on her to enlighten Nigerians that there are lots of funds they can tap from.
“There are investors that are interested in investing in Nigerian businesses either as partners or long term loans that could be either equity or quasi equity,” She said.
“AFIDEP has $2 billion to give as loans at single digit interest rate to businesses in Africa and Nigeria in particular. Start-ups with good corporate governance and established businesses that wants to expand can access such loans,” she added.
According to her, to access the loans businesses and start-ups must provide a good bankable business plan. The loan is opened to all sectors of the economy.
Josephine Okojie
