Ikpeazu in South Africa to raise $400m for Enyimba Economic City

Posted by News Express | 12 November 2019 | 1,075 times

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•Photo shows Gov. Ikpeazu

Governor Okezie Ikpeazu of Abia State is wooing private sector investors from South Africa in a bid to raise extra funds for the development of the Eyimba Economic City.

Ikeazu, according to a statement by his Chief Press Secretary, Mr. Onyebuchi Ememanka, is in the Southern African country on the invitation of the President of the African Development Bank (AfDB), Dr. Akinwumni Adesina, to attend the 2019 Africa Investment Forum (AIF)  in Johannesburg.

Ememanka said part of the governor’s mission in South Africa was to source about $400 million for the Eyimba economic city.

He said Governor Ikpeazu would lead participants at an investment boardroom meeting with global investors to raise fund for the Enyimba Economic City Development Project.

According to him, the Enyimba city project, is sponsored by the AfDB, Afriexim Bank and the International Finance Corporation (IFC).

“The Governor is supported by the private sector led by Mr. Darl Uzu, and the Federal Government team led by the Minister for Industry, Trade and Investment,  Niyi Adebayo.

“The efforts are targeted at raising additional $400million required for the first phase of the project expected to start first quarter of 2020.

“One of the major high points of the Governor’s trip to South Africa is his meeting with the President of the AfDB, Dr. Adesina to tidy up the $200million AfDB Assisted Infrastructural Development Project targeted at dealing with major infrastructural challenges particularly, roads, storm water, and environmental management issues in Aba.”Ememanka said.

Ikpeazu  is accompanied by  Commissioners for Finance, Dr. Aham Uko; Works,Bob Chiedozie Ogu and Special Adviser to the Governor on Investments, Chinenye Nwaogu.

The  2019 Africa Investment Forum (AIF)  in Johannesburg is attended by African business  and political  leaders, including Presidents and Heads of government, among them President Paul Kagame of Rwanda.

(Daily Sun)

Source: News Express

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