From Scholastica Hir, Makurdi
The Benue Investment and Property Company Limited (BIPC) has signed a Mutual Confidentiality and Non-Circumvention Non-Disclosure Agreement with Main Street Capital Limited to develop the BIPC Brewery and other business initiatives in the state.
This agreement will facilitate the development of various business projects undertaken by the company.
Managing Director of BIPC, Dr. Raymond Asemakaha, during the signing ceremony on Friday, highlighted the importance of the agreement, saying it would enable the company to secure funding for the businesses it is planning to execute in the next three years.
The MD emphasized that Main Street Capital Limited has a proven track record of mobilizing funds for numerous states and was recommended for business in Benue State.
“One of the things we want to do is diversify the economy of the state, so when I was told about them, I approached them, so we have highlighted some projects to them, and the brewery is one of them.
“Our target is that sometimes they offer us equipment financing to setup our businesses, and so not only monetary financing.”
Asemakaha said it was important of diversify the state’s economy and identify various businesses that BIPC is engaging with Main Street Capital Limited, including Plaster of Paris (POP), hydrated lime, commodity exchange hub, and juice processing company, among others.
“There’s no white cement Plaster of Paris (POP) factory in Africa, and we have abundant limestone deposits in Igumale, Mbatyav, and other places, so these are the things that we are trying as much as possible to partner with them to achieve.”.
Speaking, the Managing Director of Main Street Capital Limited, Ebi Enaholo, stated that the company is committed to assisting BIPC in securing funding opportunities and investors that will transform the economic potential of the state.
Ebi emphasized that the signing of the agreement marks a significant milestone in the collaboration between BIPC and Main Street Capital Limited, demonstrating their commitment to working together to drive growth and success in their respective endeavors.
“The reason we are here today is to help BIPC source funding and also assist in the various projects they’re working on,” Mr. Enaholo stated.
“The signing of this agreement marks a significant milestone in the collaboration between BIPC and Main Street Capital Limited, demonstrating their commitment to working together to drive growth and success in their respective endeavours,” he said.