Enugu: Gov. Mbah to de-risk business environment to attract investors

Gov. Peter Mbah of Enugu State, says his administration will de-risk the business environment to attract investors and  ensure return on investments (ROI) for businesses in the state.

The governor gave this assurance when he received the management team of Globus Bank Plc. led by its Managing Director (MD)/Chief Executive Officer (CEO), Elias Igbinakenzua, who paid him a courtesy visit on Tuesday.

Their visit followed  the opening of a branch of the bank in the state capital, Enugu.

“First, I wish to express our profound gratitude to you for commissioning your branch in Enugu State today and this is another major milestone for us.

“As we already said, Enugu State is open for business. So, I am using this opportunity to call on those who are still sitting on the fence to come over immediately.

“We promised to move Enugu from a public sector to a private sector-driven economy, but as I have always maintained, businesses are not Father Christmas.

“They are not philanthropies but come to a location because they know there will be returns on their investments. And that is what we pledge to do,” Mbah said.

He maintained that his administration would do everything possible to de-risk the environment to ensure return on investments. “We will provide the enabling environment, safe and secure environment as well as infrastructures that would help businesses succeed in the state.”

Mbah said the magnitude of the vision he expressed during the campaign, included growing the state’s Gross Domestic Product (GDP) seven folds from US$4.4 billion to US$30 billion and constructing 10,000 kilometres of roads.

Others are building 260 integrated SMART Schools which would require a different financing model instead of reliance on revenues from Abuja.

“It becomes very expedient that we constructively engage the financial institutions to work out the best financing model to do this. We would need a lot of private sector finance, so we are going to be working with you to achieve our common goals,” he added.

Responding, Igbinakenzua said the bank was particularly attracted by the governor’s commitment to private sector growth and de-risking of the business environment.

“Today, we have just commissioned our 30th branch. We have seen the works being done by our able governor and we thought we should come and partner with the government and support those initiatives.

“The governor has very ambitious plans for the state; he has talked about doing 10,000km of roads, 260 SMART Schools, and a lot more and we thought we could play a role to make these happen,” he said.

While assuring that the bank would provide a lot of employment opportunities for people of Enugu State, Igbinakenzua commended the level of security, urging other businesses to come and invest in the state.

“I do not think that there is any fear of insecurity right now in Enugu State. So, for those who are serious, who want to do business, this is a very good place to come.

“To our customers and prospective customers, Globus Bank has come to serve you. We have come to offer quick, safe services. We are there for you at 48 Okpara Avenue, Enugu,” Igbinakenzua said.