By Chinedu Adonu
The Enugu State governor, Dr. Peter Mbah, made this known during the official opening of a leading investment and financial services firm, Afrinvest’s office in Enugu.
The Enugu State Government has reiterated its commitment to strengthening Igbo-owned enterprises and ensuring long-term business sustainability.
Representing Governor Peter Mbah at the inauguration, the Deputy Governor, Ifeanyi Ossai, welcomed Afrinvest to Enugu and described the firm’s arrival as “the beginning of many good things to come.”
“Your reputation has travelled farther than you. For us, it is particularly exciting that you are here because of the range of services Afrinvest provides,” Ossai said. “We are putting in place the necessary infrastructure to attract investments such as this. But businesses cannot thrive in an environment where the support services that drive businesses do not exist, and that is why your presence here matters.”
Ossai stressed that Afrinvest’s expertise would help Igbo entrepreneurs build enduring institutions rather than personality-driven ventures.
“Most of the businesses we grew up knowing could not transcend from the generation that established them to the next because we Igbo people are predominantly people with very strong personalities. Everybody wants to have an ‘Ifeanyi Ossai Nigeria Limited,’” he said.
Speaking earlier, the Group Managing Director of Afrinvest, Dr. Ike Chioke, said the decision to establish a presence in Enugu was inspired by Governor Mbah’s efforts to make the state more business-friendly and attractive to investors.
“We’ve always had our eyes on Enugu. We had planned to come into Enugu three years ago during the administration of former governor Ifeanyi Ugwuanyi, but it did not materialise. But when Peter came on board and quickly began to transform Enugu and make it more business and investor friendly, that urgency to open an Enugu office increased,” he said.
Chioke described the move as part of Afrinvest’s “aku ruo uno” (think home) philosophy, saying the firm was bringing over 30 years of expertise in investment banking, asset management, securities trading, trusteeship, consulting, research, fintech, and microfinance services to the region.
“With us here, Enugu people cannot say they didn’t have access to expert financial advice. All too often, we see that Enugu has very successful entrepreneurs who build great businesses and even expand beyond Nigeria, but once the founder dies, the business collapses. Part of those problems are governance and strategy — some of which is the expertise we bring,” he explained.
Citing the example of the once-thriving Ekene Dili Chukwu Transport Company, which collapsed after the death of its founder, Chioke lamented the lack of business continuity culture among Igbo entrepreneurs.
“There are many such businesses that died because their proprietors died. What we are saying is that there are standardised ways of ensuring business continuity and of raising capital for your business. There are structured ways of hiring the right people for your business,” he said.
He added that Afrinvest’s presence in Enugu would help local entrepreneurs learn how to build businesses that endure across generations.
“That wealth of expertise which we daily provide Nigerians in the western and northern regions of the country is what we are gladly bringing to Enugu State. The essence is that our clients here will understand what it takes to build a business for the long term and ensure continuity,” he said.
Chioke noted that the decision to open the Enugu office was a board resolution leveraging existing relationships in the state.
“We felt we could leverage relationships we already have in Enugu, one of which is Rangers International Football Club, whose shirts we began sponsoring in 2023,” he added.
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