Afreximbank has invested $1.5 billion in several areas of the State’s economy as a consequence of a commercial partnership between Imo State Governor Hope Uzodimma and Benedict Oramah, a professor and president of Afreximbank.
When this occurs, the State’s infrastructure will be improved, employment opportunities for young people will be created, and economic growth will be encouraged.
Benedict Oramah, the president of Africa Export Import Bank, and Governor Hope Uzodimma of Imo State are said to have met recently in Cairo, Egypt, where they worked out an agreement after thoroughly discussing Imo State’s investment prospects.
Recall that Governor Uzodimma pledged to further up efforts to investigate ways to make Imo State’s plentiful natural and human resources more exploitable at his inauguration for a second term in office earlier this year.
He declared that he was driven to use Imo State’s vast arable land, gas deposits, and other plentiful natural resources to create jobs for the state’s unemployed youth and to generate income.
It is reported that Oramah’s host, Uzodimma, mentioned during their business meeting in Cairo that Oramah discussed, among other things, the enormous investment potentials in Imo State for a win-win scenario.
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The governor expressed his happiness that Imo State will benefit from the topics being discussed with Oramah and expressed confidence that the meeting would be beneficial and provide the desired results.
In his social media platform, Governor Uzodimma said: “I am delighted to share an exciting development as I seized an opportunity in Cairo to meet with our esteemed brother, Prof. Benedict Okey Oramah, President of Afrexim Bank.
“We explored potential partnership terms aimed at catalyzing investments in our state’s economy and I am thrilled to announce that our efforts have borne fruit, as we have made significant strides in advancing discussions for potential investments totaling up to USD 1.5 billion.
“This collaboration holds immense promise for the prosperity and growth of our beloved state as we continue to work diligently towards realizing our shared vision of a thriving and vibrant economy.”
Because of his experience in the business sector and his ambition to improve Imo State’s economic situation, the governor was able to secure significant funding from development partners during his first term in office.
Being a fervent supporter of inclusive governance, he thought that Imo State’s economic recovery would accelerate due to the government’s use of public-private partnerships (PPPs), which would have positive effects on growth and development in all spheres of the economy.
