Leventis stores, one of the former biggest department stores in Nigeria plans on resuming business in the country by the end of 2018, after decades of absence, just as it intends giving out seed money to individuals interested in agriculture.
This disclosure was made by the chairman of Leventis Foundation Nigeria, LFN, Ahmed Mantey, on Tuesday in Abuja, at a media briefing.
According to Mantey, the company, which has struck a deal with a South African company, ‘Pick and Pay’, in connection with its re-entry into retailing business, will open its first two stores in Lagos.
The stores, he said, will be operated through a neighbourhood store model, unlike Shoprite Supermarkets currently in the country.
Speaking also at the event, during the unveiling ceremony of the 30th anniversary logo of the group, the Executive director of the foundation, Hope Usieta, announced that the foundation has put together a competition among other activities to mark the occasion.
He said the foundation would give out N2 million each as seed money to three individuals with business pursuits in agriculture, pointing out that there will be a formal call to business plan.
The competition called “LFN@30 Agribusiness Pitch” would be graded in three categories; producing winners who will comprise students, past students of the LFN training schools and the general public.
The winners, he said, would be announced and presented with a cheque at the grand finale of the anniversary celebration, a gala night.
LFN Foundation has so far set up nine training institutes in Nigeria and Ghana, with over 25,000 youths and farmers benefitting from the training programme in modern and sustainable agriculture practices.
The training schools in Nigeria are located in Osun, Kano, Kaduna, Gombe, Ondo, FCT Abuja and Edo states.
The Leventis Foundation Nigeria was established in 1979 and registered and incorporated as a charitable company on April 26, 1988