LITF: Local SMEs will get exposure on global trade opportunities — Exhibitor

Opportunityâs agricultural finance initiative will help ensure that client Ruth Nassimbwa has a steady supply of fruits and vegetables for her market stall in Kampala. Ruth was in business for years, but until she received an Opportunity loan in 2006, she had difficulty purchasing inventory. A true entrepreneur, Ruth expanded from selling groceries to operating her own restaurant. Now repaying her tenth loan of $779, her business is stable and her loan is insured. Ruthâs income has more than doubled enabling her to send her four children to school, and to hire four neighbors to help in her businesses.

By Itohan Abara-Laserian

Lagos, Dec. 4, 2020 Mr Morakinyo Olamide, a representative of Wealthlake Agro Processing, an exhibitor at the ongoing Lagos International Trade Fair (LITF), says the event will expose Small and Medium Enterprises (SMEs) to global trade opportunities.

Olamide, a first timer at the trade fair, spoke with journalists on Friday at the Tafawa Balewa Square venue in Lagos.

The fair, apart from physical participation at the venue, also has provision for virtual attendance in view of the COVID-19 pandemic and precautionary measures to prevent its spread.

Olumide said that SMEs needed more exposure for their businesses now that the COVID-19 pandemic has exposed disruptions in the production, distribution, marketing and trade value chains.

He said: “This is the company’s first time exhibiting here but we are not new to the opportunities that such platforms presents.

“This is a kind of a platform that will introduce manufacturers, processors and others along the line of business to the world.

“To the world, in the sense that local SMEs or producers will be able to showcase their products to consumers and international investors,” he said.

According to Olumide, the company is the producer of “Moat Sauce” made from blended tomato, pepper, onions and other natural ingredients.

Speaking on how the firm sources for raw materials, Olumide said: “The company is into aggregation, we provide seeds for our farmers.

“Then when it is time for harvesting, the farmers come to us then we buy it back from them, so raw materials is not a problem.

“We are also ready earn foreign exchange for Nigeria as we are open to export opportunities,” he said.

Naija247news reports that the Lagos International Trade Fair was flagged off on Dec. 4 and will be open till Dec. 13.

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