African Chambers Of Commerce And Industry Ready To Float Regional Carrier
As part of measures to make their export products more competitive in terms of cost and timely delivery, West and Central African Chambers of Commerce and Industry have come together to float an indigenous carrier.
Led by Nigeria, the carrier coming under shipping company name as C-Link will form and operate a regional shipping company along the West and Central Africa coast such that traders within the sub-region can move their goods by ship at competitive cost.
The mandate is to provide funding for non-oil exporters, shipping services as well as trade facilitation roles to non-oil exporters within the sub-region.
To this end, Nigeria has entered into partnership agreements with some ship manufacturing company, the Nigerian Navy and other relevant stakeholders.
Fielding questions at this year’s annual workshop of Finance Correspondents Association of Nigeria (FICAN), Nigerian Export and Import (NEXIM) Bank’s Head of Strategy and Corporate Communications, Tayo Omidiji, explained that the company would kick off operations in the next few months, having completed necessary documentations.
“Our primary mandate is to fund non-oil exports sector and also provide other services,” Omidiji explained.
The representative of the development finance institution added that the company is also providing trade facilitation role to ensure that their funds do not get trapped for want of trade facilitation services.
To address the issue of funding, Omidiji said they have partnered with overseas ship building organisation which are bringing in their ship for the operation.
He explained that the Nigerian Navy were currently working on the survey and charting of the inland water ways, stressing that all other logistic issues were being addressed.
“In the next few months, we will get the shipping company to start operations,” he concluded.
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