Mbah partner diasporas to drive private sector-led economic trans
Gov. Peter Mbah of Enugu State, says his administration will partner the Enugu State Diaspora and Investment Forum (ES-DIF) to achieve its private sector led economic transformation of the state.
Mbah disclosed this while briefing newsmen on Monday at the Government House, Enugu.
The governor said that through the forum, the administration would target at least $2 billion in investment interests.
He said that the $2 billion investment interests was expected to be gained in ES-DIF’s first year of existence by 2024.
He said that the Enugu State Government would host an Investment and Economic Growth Stakeholder Roundtable in September to attract investors to the state.
The governor added that the investment roundtable would be the precursor to the launch of the first edition of the ES-DIF in April 2024.
According to him, ES-DIF will be a multi-stakeholder, fully transactional platform championed by the Enugu State Government to accelerate the identification, preparation, curation, and financial closure of investment projects.
He said the idea was to enable the state government to achieve its Private Sector-Led Economic Transformation Agenda.
“In September 2023, the Investment and Economic Growth Stakeholder Roundtable will bring together bilateral and multilateral development partners, as well as senior-level executives from commercial banks, public and corporate pension funds.
“Others are sovereign wealth funds, private equity funds, infrastructure funds, and other domestic financial institutions for a systematic discussion on advancing viable investment opportunities in the state,” Mbah said.
He explained that ES-DIF and its series of preliminary business and investment roundtables would be implemented by a Diaspora and Investment Unit established within his office.
The office, he said, would be tasked with the responsibility of working with relevant government agencies, project sponsors, domestic and international financial institutions and private investors.
This, include the diaspora investing community, and development partners to crowd in capital for critical development programmes and projects in priority sectors that can improve Enugu State’s global competitiveness and drive suitable development outcomes.
The governor explained that ES-DIF would function in five key areas such as
identify and create projects, working with relevant government agencies to facilitate policy reforms, technical assistance support and innovative partnerships.
Others are to mobilize capital for bankable projects, including net-zero aligned projects that can unlock the economic potential of Enugu State and South-Eastern Nigeria.
According to him, ES-DIF will also implement an annual investment marketplace with special boardrooms for government agencies, potential investors, and project sponsors to match and mutually de-risk projects. (NAN)
