A foremost investment company, Platform Capital has commenced its shoemaking park, Leather City Park (Leather City) and NIBRA Designs Limited (NIBRA) – a shoe production initiative in Ariara market, Aba, Abia state. The commencement was marked with a groundbreaking ceremony.
In a statement, the investment company said that the shoe factory which is poised to leverage on world-class Brazilian technology would be the largest in sub-Saharan Africa. The NIBRA facility is expected to be launched with an initial capacity of 10,000 pairs a day, growing to 100,000 in five years.
NIBRA, which was scheduled to be inaugurated by the fourth quarter of 2019, would employ 1,000 people for a start, growing to over 5,000 in the medium term.
Part of the release reads:
“Under secured offtake arrangements for 100 per cent of our initial installed capacity, we will serve domestic and international markets. Leather City, on the other hand, will provide opportunities to increase productivity and product quality for a significant number of 120,000 individuals currently in Ariara market.
“For private enterprises and SMEs, Leather City will offer infrastructure as a shared service and skills development training to the growing population of Nigerian entrepreneurs in the leather and related goods space.
“This will form part of a broader strategy to leverage the National Leather Policy of the Federal Government of Nigeria and develop the local supply chain to reduce dependence on imports as we improve the perception of made in Nigeria products.”
The park will also operate as a free trade zone on sustainable principles and world-class infrastructure.
About Platform Capital
Platform Capital is an investment and advisory firm, committed to supporting entrepreneurs seeking to engender growth and far-reaching development across the African continent.
The firm matches viable ideas and businesses with the right funding, governance, resources and tools to ensure they become successful, sustainable and impactful enterprises.