Indian Footwear Maker Signs 7Bn JV with Global Smartfit Nigeria

By April 14, 2022 April 19th, 2022 NIPC News

To deploy the latest technology in production

L-R: MD/CEO Global Smartfit Nigeria Ltd., Ogonna Okonkwo; Acting Executive Secretary/CEO, NIPC, Emeka Offor and MD, Prosafe, Satish Verma at NIPC earlier today

Abuja, April 14 – Local footwear design and manufacturing company, Global Smartfit Nigeria has signed a N7bn joint venture with Indian footwear maker, Prosafe International to set up a world-class footwear factory today. The duo made this known during a visit to NIPC’s headquarters.

The factory which is located around the outskirts of Nigeria’s Federal Capital Territory, Abuja will have them engage in the production and distribution of footwear and other personal protective equipment (PPE) for local sales and export.

According to the JV agreement sighted by NIPC Intelligence, Prosafe will contribute its expertise and knowledge in the establishment of the plant and its smooth operations, establishing necessary facilities for training and skill development, testing facilities, R&D facilities, designing the facility and 45% of the value of the machinery.

MD/CEO, Global Smartfit, Mr Ogonna Okonkwo in his remarks stated that the mega factory will kick off in 6 months with world-class infrastructure for the production of complete footwear starting from the upper to final parts.

“To make this happen, we are partnering with a world-class footwear manufacturer who has extensive knowledge and experience in producing and delivering world-class footwear made from the most advanced materials and processes,” he said.

In turn, Managing Director, Prosafe, Satish Verma expressed confidence in his Nigerian counterpart.

“Global Smartfit is one of the pioneers in the field of footwear production and distribution in Nigeria,” he said.

“We will be generating our power from an independent power source and would deploy the direct injection process method in the production of our footwear – the latest technology in the industry,” said Mr Verma.

NIPC’s Acting Executive Secretary/CEO, Mr Emeka Offor while commending the partnership assured the firm of the Commission’s support.