KEY POINTS
- Funding for economic and infrastructure transformation in Anambra: $500M.
- Industrial cities, rail systems and healthcare form key projects.
- Global and local firms form partnerships with the intent of increasing sustainable development.
In its drive to transform the State to an economic mecca, Anambra State Government commits over $500 million into funding and strategic partnerships.
In his address, Governor Charles Chukwuma Soludo invited investors, stakeholders and development partners to come on this transformative journey to build a liveable, smart megacity.
Growth of Anambra’s Economy Accelerates
Speaking at the 2024 Anambra Investment Summit held in Awka with the theme “Changing Gears”. In the governor’s words, “Accelerating Anambra’s Economic Transformation”, highlighted his administration’s resolve to accelerate industrial development; drive pro business policies and promote sustainable development.
Stakeholders, financial institutions, industry leaders, and development partners including came together at the summit to better understand investment opportunities and also jointly charting a sustainable course for economic growth.
Transformation driven by key projects and partnerships
Furthermore, the summit showcased progress on previous commitments, including:
Infrastructure projects such as the Anambra Mixed Use Industrial City (AMIC) and the Anambra Intra City Rail are to get $250 million from Afreximbank.
Such rail project could be economically and operationally viable if feasible routes and operations with feeder rail lines are adopted** in line with planned development of AMIC’s masterplan and ongoing feasibility studies.
Awka Shopping Mall also is slated to complete by Q2 2025.
New agreements signed during the summit include:
– UNDP Partnership: Building of a technology and entrepreneurship hub known as Makers Space.
– Energy Development: Genesis Energy and VFD ENERGY with agreements to develop Independent Power Plants (IPPs).
– Healthcare Expansion: Building a specialized cancer treatment facility with JNC International.
– Infrastructure Fund: The Anambra Development and Investment Corporation (ADIC) is partnering with Cardinal Stone to manage naira denominated fund.
It is anticipated that these initiatives will help diversify major sectors such as agriculture, healthcare, energy and tourism, putting in place public private partnerships for long term sustainability.
