Bank invests in leather sector

Published:  24 April, 2014

The management of Fidelity Bank in Nigeria has approved a six hundred million naira (US$3.73 million) loan to support the garment and leather products sectors for shoe, belting and bag makers in Aba, the commercial hub of Abia State. The loan is aimed at upgrading the capacity and product quality of the operators in the region.

Michael Nwagbara, Branch Manager of Fidelity Bank said that the bank believes in entrepreneurship, which is why it is interested in helping the micro, small and medium enterprises (MSME).

“The bank has looked at what is happening in Aba and has developed a product tailored to the garment and leather manufacturers. As we speak today, the bank has mapped out N600 million for the leather and garment sectors,” he said.