Three Nigerian consulting firms, CTP International, HyperTech Nigeria Limited and Joaz Nigeria Limited have been chosen to participate in the Kuwait Fund for Arab Economic Development, KFAED, according to a statement released to journalists in Kuwait city today. Under the Fund’s rules, only Kuwaiti consultants registered with the Fund can handle applications for loans and grants; non-Kuwaiti consultants can participate but only by partnering with a KFAED-registered firm. After a brief ceremony at the Nigerian Embassy in Kuwait yesterday, Kachi Okezie, CEO of CTP International announced the signing of an MOU between his firm, CTP International and Kuwait-Fund-registered consultancy, NARCO. He said, “Through the MOU we just signed, I am confident that both sides will be enriched through the sharing of knowledge and experience and that the spirit of partnership and teamwork thus generated will enable us to deliver the aspirations of the Fund.” The Nigerians are in Kuwait for the 3rd Arab-Africa summit being hosted by Kuwait in a bid to position Arab financial might for a greater role in Africa. The summit whose theme is “Partners in Development and Investment” is presided over by the Amir of Kuwait, His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, who announced Tuesday that Kuwait will extend $1 billion in soft loans to African countries over the next five years and a further $1 billion in investments. A high-powered Nigerian delegation to the summit is led by the Vice President, Arc Namadi Sambo and includes the Minister for Foreign Affairs, Professor Viola Onwuliri.
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