• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

Bank of Industry (BOI) Partners with Rivers State Government to Launch N4 Billion Matching Fund for Economic Growth

Blessing Joseph by Blessing Joseph
August 17, 2023
in Africa, Business, Economy, News
0
Bank of Industry Launches Palliative Food Program to Address Food Insecurity in Nigeria
Share

A strategic partnership has been forged between the Bank of Industry Limited (BOI) and the Rivers State government. This momentous collaboration aims to catalyze the state’s policy initiatives for creating enduring economic prospects.

The official announcement of this collaborative venture was made following an exclusive meeting between Rivers State Governor, Siminalayi Fubara, and top officials from the BOI, led by its Managing Director and Chief Executive Officer (MD/CEO), Olukayode Pitan. The pivotal discussions took place at the Government House, Port Harcourt, highlighting the commitment of both entities to drive substantial positive change in the state’s economic landscape.

Addressing the media after the meeting, BOI’s CEO highlighted the key agenda of the partnership. He revealed, “We discussed the issue of matching funds and the governor expressed interest. So, he wants us to, within the next one month, accelerate the process and put together an N4 billion matching fund facility and other things to drive more economic opportunities in the state.”

The essence of the matching fund lies in its role as a mutual funding program, wherein both BOI and the state government collaborate to cultivate a culture of enterprise and foster sustainable interest in entrepreneurial endeavors. By synergizing efforts, this initiative aims to attract investments, amplify revenue streams, and invigorate economic activities within Rivers State.

The MD/CEO acknowledged that the challenge of youth unemployment is a common thread among several states, including Rivers. He highlighted the governor’s particular interest in generating viable opportunities for the youth demographic. He said, “The technical team has been set up whereby various things, which will engage the youths, will be done. So, once we finish the work and the governor approves it, you will know more about it.”

This partnership aspires to elevate Rivers State to new heights of socio-economic prosperity. Its implications encompass not only streamlining the business environment but also augmenting productivity, fostering Gross Domestic Product (GDP) growth, and empowering the state to amass higher revenue.

Reflecting on BOI’s contributions to the state, the CEO underlined that the bank has invested over N55.65 billion across diverse projects in Rivers. He highlighted their commitment to growth at every level, encompassing large, medium, small, and micro-enterprises. A substantial 55.31 percent of BOI’s total investments in the South-South region are concentrated within Rivers State.

The MD/CEO articulated that while BOI has previously invested significantly in the state, prior attempts to establish a developmental partnership with the government yielded limited results. This new endeavor not only symbolizes renewed collaboration but also underscores the dynamic potential of leveraging partnerships for inclusive economic growth.

Post Views: 91
Share

Related Posts:

  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Top 15 Social Media Marketing Tools for Nigerian Entrepreneurs
    15 Social Media Management Tools That Will Make Life…
  • Nigerian Government Agencies that Support Entrepreneurship
    Nigerian Government Agencies that Support…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • Bank of Industry to Contribute 27% of Africa's Renewable Power Generation by 2030
    Bank of Industry Commits to Empower Rivers State's…
Tags: Bank of IndustryBank of Industry News in Nigeria todayEconomic GrowthEntrepreneursMSME AfricaMSMEsRivers StateSMESMEs
Previous Post

Understanding Government Tax Policies That Apply To Your Business – Akinjide Akande, Tax Advisor

Next Post

Interswitch Advocates Innovative Solutions for Intra-Continental Trade Growth

Next Post
Interswitch Advocates Innovative Solutions for Intra-Continental Trade Growth

Interswitch Advocates Innovative Solutions for Intra-Continental Trade Growth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • OPEC+ Raises Production Quota by 411,000 Barrels per Day ,Piling Pressure on Naira
  • Nigeria’s Crude Export to US Increases After Dangote Lowered Production – Report
  • Cash in Circulation Slips as Nigerians Go Digital
  • Blue Sands STEM Lab Wins N2 Million Top Prize at MarkHack 4.0
  • NLNG Expands Train 7 Skills Programme to Boost Youth Participation

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2025
  • Otabor Osayomore Blessing on Ultimate 2025 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.