Aba shoemakers caution Abia Government over Chinese investor
http://ift.tt/2rLVFW8 Shoemakers in Ariaria Market, Aba, have expressed concern that invitation of a Chinese investor may stifle local entrepreneurs. The News Agency of Nigeria(NAN), reports that the Abia Government in April 2017, announced that it had secured a loan of $1.5 billion for a Chinese entrepreneur to set up a shoe industry in Aba. Some shoemakers in separate interviews with NAN on Saturday in Aba, said the arrangement would not work in their favour, as they lacked the capacity to compete with the well established shoe manufacturing company. Mr Ikedi Ohaeto, one of the local entrepreneurs, said it was not proper for Gov. Okezie Ikpeazu who is championing made-in-Aba products to shop for an investor from abroad. He stressed that what the governor ought to do, is to empower local entrepreneurs to acquire machines. “If the Chinese arrives with his machines and coupled with cheap labour, how can we compete with him producing with bare hands? “I am not too sure that ...