The first contact with clients typically derives from our investment promotion activities, referrals and walk-ins. We require all potential clients to express their interest through a letter of intent or initial proposal.

Clients who have expressed interest, are given an initial project/investment template to complete. If satisfactory, the client’s proposal proceeds to step three. If not, the matter is referred to our Entrepreneurship and Business Development Department for Counselling (Busisness Clinic) and business advisory assistance to improve the quality of the proposal.

It is during this phase, that the client is requested to submit a detailed business plan and/or feasibility study covering the business concept, market analysis, production analysis, human capital, financial analysis and viability test. On receipt of the Feasibility Study or Business Plan, the project is appraised and the promoters are invited to make formal presentation to our Management Committee. Discussions and negotiations on the project are made to facilitate an investment decision.

An investment decision is made based on the funding and ownership structure derived from information in the earlier phases. The Corporation may invest directly, if the project is strategic or refer the proposal to the Bank of Industry (BOI) for lending under the Akwa Ibom State/Bank of Industry MSME Fund (a N4 billion funding mechanism between the State Government and BOI). Post-investment milestones are identified at this stage to form the basis for project implementation and monitoring.