€5 Million Oando Loan to Reach Cooking Gas End Users

Thursday, December 12, 2013

Oando Marketing Plc has signed a €5 million agreement with KFW, a German government-owned development bank based in Frankfurt. According to media reports out of Nigeria, the agreement will further Oando’s goals of enhancing the availability of cooking gas to low income earners in Nigeria.

Head of KFW’s Africa Regional Programs Thomas Duve and Abayomi Awobokun, marketing CEO of Oando, signed for their companies.

Awobokun said the funds invested through the agreement would be made available to select micro-finance institutions, who will then lend the funds out to end users of cooking gas as well as micro, small and medium-sized enterprises for their LPG investments.

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