…also to conclude $200m AfDB loan for Aba infrastructure
Okezie Ikpeazu, governor of Abia State, is participating in the 2019 Africa Investment Forum (AIF) which kicked-off Monday, November 11 in Johannesburg South Africa, with plans to attract additional $400m investments into the planned Enyimba Economic City Project.
Ikpeazu also expects to conclude a loan discussion with the African Development Bank (AfDB) for infrastructure in Aba. He is attending the investment forum on the invitation of Akinwumni Adesina , President of the AfDB.
A statement from Onyebuchi Ememanka, chief press secretary to Abia State Governor, stated that Ikpeazu will lead participation at an investment boardroom meeting with core global investors to raise financing for the proposed Enyimba Economic City Development project.
He explained that the project was being sponsored at the board room by the AfDB, Afriexim Bank and the International Finance Corporation, the private-sector investment arm of the World Bank.
The Governor supported by the private sector lead Darl Uzu and the Federal Government team led by the Minister for Industry, Trade, and Investment Niyi Adebayo, will pitch to global business leaders opportunities in the Enyimba Economic Development City project.
The efforts are targeted at raising an additional $400 million required for the first phase of the project expected to start Q1 2020.
One of the major high points of the Governor’s trip to South Africa is his meeting with the President of the AfDB, to tidy up the $200 million AfDB-assisted infrastructural development project, targeted at dealing with major infrastructural challenges particularly, roads, stormwater, and environmental management issues in Aba.
Prominent amongst them is President Paul Kagame of Rwanda.
Ememanka in the statement also said that the Governor would hold meetings with Abians resident in Johannesburg to update them with developments at home.
Those accompanying the Governor on the trip are the State’s Commissioner for Finance, Aham Uko, his counterpart in the Ministry of Works, Bob Chiedozie Ogu and Chinenye Nwogu, special adviser to the Governor.
The three-day event is being attended by many African business and political leaders, including Presidents and Heads of governments across the continent and beyond.
Source: businessday
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