Anambra State Government Seals Deal With Afrexim Bank On Development

Governor Chukwuma Soludo, Commissioner for Industry, Mr. Christian Udechukwu, and Managing Director and Chief Executive Officer of Anambra Investment Promotion and Protection Agency (ANSIPPA), Mr. Mark Okoye and President of Afreximbank, Professor Benedict Oramah jointly endorsed the deals which has prospects of a positive transformation for the state.

The signing ceremony took place on the sidelines of the ongoing IntraAfrican Trade Fair, IATF 2023 holding in Cairo, Egypt.

The first deal entails the provision of capital raise financial advisory services, amounting to an estimated $200 million – a funding dedicated to crucial projects, including the development of the Ikenga Mixed-Use Industrial City Project, investments in the Anambra Export Emporium, and the establishment of the Akwaihedi/Unubi/Uga Automotive Industrial Park.

The second initiative focuses on the creation of the Operational and Governance Framework for the Anambra Diaspora Fund, aiming to leverage the resources and expertise of the diaspora community for the state’s benefit.

Both encompasses capital-raising financial advisory services for key projects such as the Anambra Intra-City Rail Master Plan Project.

These initiatives underscore Afreximbank’s commitment to inclusive growth and sustainable development.

Governor Soludo believes that with the successful establishment of the funding, Anambra State is better positioned for the future in terms development.

The IATF 2023 provides potential opportunities to build new pipelines and develop businesses in non-traditional business sectors.

IATF 2023 is the third edition, under the theme “Building Bridges for a Successful AfCFTA”.

It is hosted by the African Export-Import Bank (Afreximbank), in collaboration with the African Union and AfCFTA Secretariat and has heads of state, senior government officials, continental/global players in multiple sectors in attendance.