Gov. Mbah gives assurances on the de-risked business climate and ROI in Enugu

In order to secure return on investments (ROI) for businesses in the state, Enugu State Governor Barr Peter Mbah has reaffirmed his administration’s commitment to de-risking the business environment.

When Elias Igbinakenzua, the Managing Director (MD)/Chief Executive Officer (CEO) of Globus Bank, paid the governor a courtesy call on Tuesday, the governor provided him the guarantees.

“First of all, allow me to convey our sincere gratitude for today’s launching of your branch in Enugu State. We have always told the investing public that Enugu State is open for business, thus this marks another significant milestone for us. In order to encourage those who are still debating to come over right away, I’m exploiting this occasion.

“We pledged to transform Enugu’s public sector-dominated economy into a market-based one. However, as I have always argued, corporations are not Santa Claus. They don’t qualify as charities. They travel to a place because they are confident that their investments will pay off. And we commit to doing just that.

So, in order to secure return on investments, it is up to us to take all reasonable steps to de-risk the environment. We are prepared to contribute, he said, whether it is by creating an atmosphere that is enabling, safe, and secure, or by ensuring that you have the essential infrastructure and that we support and collaborate with you to achieve success.

The scope of the vision, which included increasing the state’s Gross Domestic Product (GDP) by seven times, from $4.4 billion to $30 billion, building 10,000 km of roads, and constructing 260 integrated smart schools, according to Mbah, would require a different financing model rather than relying on income from Abuja.

In order to figure out the appropriate financing mechanism for this, it becomes imperative that we constructively engage the financial institutions. Significant private sector funding would be required. So, in order to accomplish our shared objectives, we will be working with you, he continued.

According to Igbinakenzua, MD/CEO of Globus Bank, the bank was particularly drawn to the governor’s dedication to business environment de-risking and private sector growth.

“The Governor is making some really big ambitions for the State. 10,000 km of new roads, 260 smart schools, and many more projects have been mentioned by him. And we believed that we could contribute in some way to make that happen,” the MD stated.

“I don’t believe that there is now any concern of insecurity in Enugu State. So, this is a great spot to go if you’re serious about doing business, Igbinakenzua continued.