Lagos - To further enhance availability of cooking gas to low income earners in the country, Oando Marketing Plc, has signed an agreement with KFW, a German development bank, to invest N1 billion (€5m) in the supply and distribution of the product.
The money would be made available to selected micro finance institutions that would then lend the funds out to micro, small and medium sized enterprises for their LPG investments, reports Nation.
Abayomi Awobokun, Oando Marketing’s Chief Executive Officer, said the fund would also be made available to end users of cooking gas, who can approach these micro finance banks with only N200 as an initial deposit and walk away with the complete set of portable 3kg O-Gas.
To enjoy this benefit, end users are expected to make a N200 daily deposit with any of the partnering micro finance banks until payment is completed for the 3-in-1 unit.
Read more at Nation