Earlier this week, the government of Imo state presented a Certificate of Occupancy to the African Export-Import Bank (Afreximbank) for the establishment of an investment Centre in the state.

This was disclosed in a statement by Chibuike Onyeukwu, the Chief Press Secretary to the Governor of Imo state. It was revealed in the statement that the president of Afreximbank-Benedict Oramah alongside other bank officials was at the Government House in Owerri to receive the certificate.

The Governor of Imo State Emeka Ihedioha embarked on a trade and investment working visit in Moscow at the Afreximbank’s annual meeting in June 2019. Benedict Oramah revealed that the choice of Imo for the Centre was necessitated by the Ihedioha’s demonstration of vision and passion for the development. 

In October 2019, Imo state government committed N18 billion ($50 million) for the establishment of the proposed Africa Quality Assurance Centre. This action was recorded as an indication of the governor’s investment drive, Likewise an improvement on the ease of doing business in the state.

Ihedioha described Imo state as home to business possibilities stating that the Investment Centre acquisition would be of great benefit not only to Imo state but to the entire south-east and south-south regions. 

The governor highlighted that the certification of occupancy “is a significant leap in our efforts to advance our state and make it a huge business hub.” He added that more importantly there will be a provision in “employment opportunities and a boost in economic development for the state.”

Ihedioha announced that his government is in a hurry to maximize potential as “the state with the highest literacy rate in the country.” He went on to say that they are “ready and willing to provide the human capacity for any business to thrive.”

With the centre in place, numerous investment opportunities from across Africa and beyond will be actualized in the state likewise the whole Eastern region. Consequently, there will be an increase in the economic development of the region as different sectors thrive.

On the side of Afreximbank, this establishment will help the bank accomplish its mission to stimulate a consistent expansion, diversification, and development of African trade.  

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