February 24, 2022 / 09:52 AM / Release by LoftyInc Allied Partners Ltd /
Header Image Credit: LoftyInc Allied Partners Ltd
Allied Partners Limited was recently
awarded the sum of a N592,204,667 co-investment grant by the USAID-funded West Africa Trade & Investment Hub (Trade Hub) to launch “Project
initiative developed to reduce the risk of local and global
investments in selected agribusiness and agritech companies in Nigeria to help
them achieve higher productivity, better returns, inclusive growth and access to finance.
assistance provided to these companies, Project Sparrow will achieve its
overall goal of supporting the improvement of Nigerian smallholder farmers’ productivity and livelihoods in the U.S. Government’s Feed the Future States and select value chains. As
this program is code-named, Project Sparrow is expected to positively impact
over 50 direct beneficiaries and a total of 25,000 smallholder farmers while
creating 4,000 jobs.
of the project and its expected outcomes, LoftyInc hosted a kick-off launch for
Project Sparrow on Wednesday, February 16, at the Shehu Musa Yar’adua Center in
Abuja. The event brought together LoftyInc and Trade Hub staff, leaders of
agribusinesses in Nigeria, and staff representing financial institutions and
other businesses that will support Project Sparrow, including the Development
Bank of Nigeria, the Nigeria Sovereign Wealth Investment Authority, the First
City Monument Bank Plc, and Afrilabs.
Headquartered in Abuja, Nigeria, LoftyInc Allied Partners
Limited is an innovation development company that supports start-up teams,
innovation enterprises and social impact projects in Africa. The organization
is on a mission to contribute to the enhancement of lives by creatively
investing in ideas and entrepreneurs, while positively changing the broader
“The vision of the company has been to tackle the most
prominent problem of the 21st century in Africa joblessness and to this vision,
the company has remained true as exemplifieed by the recently launched Project
Sparrow”, said Engr Michael Oluwagbemi, Executive Partner of LoftyInc.
Access to funding has always posed a major challenge
to innovative agric-focused start-ups and MSMEs in the country. The need to
provide a solution to this challenge led to LoftyInc’s …….