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Mbah Reassures Investors of Conducive Business Environment, As Globus Bank Opens Branch In Enugu

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Governor of Enugu State, Dr. Peter Mbah, has reiterated his administration’s commitment to de-risking the business environment to ensure return on investments (ROI) for businesses in the state.

The governor gave the assurances when he received in his office the management team of Globus Bank led by the Managing Director (MD)/Chief Executive Officer (CEO), Elias Igbinakenzua, who paid him a courtesy visit following the opening of a branch of the bank in the state capital, Enugu, on Tuesday.

“First, I wish to express our profound gratitude to you for commissioning your branch in Enugu State today. This is another major milestone for us, for, as we have always said to the investing public, Enugu State is open for business.  So, I am using this opportunity to call on those, who are still sitting on the fence to come over immediately.

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“We promised to move Enugu from a public sector to a private sector-driven economy. But as I have always maintained, businesses are not Father Christmas. They are not philanthropies. They come to a location because they know there will be returns on their investments. And that is what we pledge to do.

“So, it is for us to do everything we can to de-risk the environment to ensure return on investments. Whether it is in terms of providing the enabling environment, providing the safe and secure environment, making sure that you have the basic infrastructure and that we help and work with you to succeed, we are ready to play our part”, he stated.

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Mbah said the magnitude of the vision he expressed during the campaign, including growing the state’s Gross Domestic Product (GDP) seven folds from $4.4 billion to $30 billion, constructing 10,000km of roads, and building 260 integrated smart schools would require a different financing model instead of reliance on revenues from Abuja.

“It becomes very expedient that we constructively engage the financial institutions to work out the best financing model to do this. We would need a lot of private sector finance. So, we are going to be working with you to achieve our common goals”, he added.

On his part, the MD/CEO of Globus Bank, Igbinakenzua, said the bank was particularly attracted by the governor’s commitment to private sector growth and de-risking of the business environment.

“Today we have just commissioned our 30th branch. We have seen the works being done by our able governor and we thought we should come and partner with the government and support those initiatives.

“The governor has very ambitious plans for the state. He has talked about doing 10,000km of roads, 260 smart schools, and a lot more. And we thought we could play a role to make that happen”, the MD said.

While assuring that the bank would provide a lot of employment opportunities for people of Enugu State, the MD commended the level of security, urging other businesses to come in and invest in the state.

“I do not think that there is any fear of insecurity right now in Enugu State. So, for those who are serious, who want to do business, this is a very good place to come.

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“To our customers and prospective customers, Globus Bank has come to serve you. We have come to offer quick, safe services. We are there for you at 48 Okpara Avenue, Enugu”, Igbinakenzua concluded.

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