The opening of Afrinvest (West Africa) Limited’s new branch in Enugu State has ignited conversations about the future of enterprise in the Southeast, with calls for a shift from personality-driven businesses to structured, multi-generational institutions capable of sustaining regional prosperity.
At the inauguration ceremony, Governor Peter Mbah emphasized that for the Southeast economy to achieve long-term growth, business owners must begin to build enduring systems rather than enterprises tied solely to individual founders. Represented by his deputy, Ifeanyi Ossai, the governor urged the region’s entrepreneurs to adopt institutional frameworks similar to global corporations that thrive beyond their originators.
“We Igbos have a culture of strong individual ambition — everyone wants to establish an ‘Ifeanyi Ossai Nigeria Limited’. But to secure the economic future of our region, we must transition to structured models like Guinness or Nigerian Breweries that continue to grow long after their founders,” he said.
Mbah underscored that a thriving business environment requires reliable investment infrastructure and professional financial services — areas where Afrinvest’s expertise in capital mobilisation, asset management, and business structuring would play a crucial role.
Ossai, describing Afrinvest’s expansion as both timely and transformative, encouraged the firm to collaborate with local universities and entrepreneurs, fostering a culture of governance, mentorship, and sustainability among the next generation of business leaders.
“With our growing number of tertiary institutions, Enugu has the potential to become a hub for a knowledge-based economy. We look forward to Afrinvest helping our youths understand the principles of long-term wealth creation and enterprise management,” he said.
Speaking at the event, Afrinvest Group Managing Director, Dr. Ike Chioke, revealed that the company had considered entering Enugu three years earlier but waited until the right economic reforms were in place. He credited the Mbah administration’s pro-business policies for creating an enabling environment for the expansion.
“We had plans to establish our presence in Enugu during the previous administration, but it didn’t materialize. With Governor Mbah’s focus on economic transformation, the timing became perfect,” Chioke explained.
He added that Afrinvest would deploy its full suite of financial solutions — including investment banking, securities trading, trusteeship, research, consulting, fintech, and microfinance — to help enterprises in Enugu scale sustainably.
Chioke also highlighted a recurring challenge among Igbo-owned enterprises: the collapse of businesses following the founders’ demise, often due to weak governance and lack of institutional continuity.
“Many of our people run successful companies, but few establish governance structures that ensure survival beyond their lifetimes. We’re bringing to Enugu the same depth of expertise that has sustained our clients in other regions,” he noted.
According to Chioke, Afrinvest’s expansion embodies the ‘Aku ruo uno’ (think-home) principle, symbolizing a strategic return of knowledge and investment to the Southeast. The firm already maintains strong local partnerships, notably through its sponsorship of Rangers International Football Club, reinforcing its long-term commitment to Enugu’s economic growth.
As Afrinvest begins operations in Enugu, it signals more than a business expansion — it represents a paradigm shift toward building institutional legacies that can redefine the economic landscape of Eastern Nigeria.
