Kogi State Enterprise Development Agency (KEDA) has signed a Memorandum of Understanding (MoU) with the Combined Agricultural and Renewable Energy Company Limited (CAREC), in Lokoja, the state capital.

The MoU sets forth the mutual understanding and intentions of both parties to establish a strategic collaboration to support the agency’s Micro, Small and Medium Enterprises (MSMEs) development initiatives.

Besides, the scope of the MoU includes the joint establishment of an incubation centre for nursing startups for selected entrepreneurs to establish their businesses, joint incubation for startups in assembling electronic digital devices, portable solar lamps and generators, inverters, and battery energy storage packs.

Other areas of focus are the establishment of incubation centres for pharmaceuticals, a model agro-industrial factory for cassava processing into garri, rice processing, cashew nut processing and other derivatives by women cooperatives and so on.

Managing Director and Chief Executive Officer of KEDA, Muhammed Kadiri Okeji, who spoke at the event, said the MoU is aimed at fostering the growth of MSMEs within the economy of Kogi State.

Mallam Yakubu Lawal, a director in CAREC signed on behalf of his organisation while the MD/ CEO signed for KEDA.

In a statement by KEDA Information Officer, Joseph Adama, the managing director noted that in an attempt to develop the state, there was a need to partner with private sector organisations since the government cannot do everything for the people.

Okeji stressed that with the partnership, efforts would be geared towards ensuring that the project is pursued vigorously by leaving no stone unturned in the desire to get perfect work. He expressed optimism that the MoU, when fully implemented, would put a smile on the faces of teeming women and youths in the state.