Gov Mbah rallies Igbos for South-East economic expansion
Governor Peter Mbah of Enugu State has harped on the imperative for the people of the South-East to change the pattern of their business investments.
Mbah, who was particular about making businesses to endure from one generation to another, advised Ndigbo to move beyond personality-driven business models toward structured, multi-generational institutions.
He stated that Igbos must embrace a structure that would ensure that their businesses outlive the founders in order to grow and sustain the economy of the southeast region.
Mbah stated this in Enugu during the official opening of the branch of Afrinvest (West Africa) limited.
Represented by his Deputy, Ifeanyi Ossai, the governor stated that to achieve this, they needed support services that drive investment such as provided by Afrinvest.
“We Igbo people are known for strong personalities. Everyone wants to own an Ifeanyi Ossai Nigeria Limited. But we must evolve to build systems like Guinness or Nigerian Breweries that outlive their founders.
“Businesses cannot thrive where support services that drive investments do not exist. The kind of services Afrinvest offers- from capital mobilization to business structuring- are the very backbone of a sustainable economy,” he said.
Ossai described Afrinvest’s arrival as “timely and transformational,” emphasising that the company’s range of services will strengthen Enugu’s investment ecosystem.
He stressed the need to help local entrepreneurs move beyond personality-driven business models toward structured, multi-generational institutions.
He added that there was the need to engage with the state’s numerous tertiary institutions to inspire students and young entrepreneurs toward building sustainable, knowledge-based enterprises.
“With the number of universities in Enugu, we should be leading a knowledge-based economy,” he said.
In a remark, Afrinvest Group Managing Director(GMD), Dr. Ike Chioke, said they had planned to come into Enugu three years ago during the administration of the former governor, Ifeanyi Ugwuanyi, but it did not materialise.
When Peter Mbah came on board and began transforming Enugu into a business-friendly environment, the urgency to open this office increased,” Chioke said.
Chioke noted that many successful Igbo-owned enterprises collapse after the founders’ demise due to weak governance structures.
“There are standardised ways of ensuring business continuity, raising capital, and hiring the right people,” he said.