Abia, Stanbic IBTC Explore Strategic Partnership on Infrastructure Financing and SME Development

By Ezechukwu Adimoha

ABIA – Governor Alex Otti has expressed the state’s willingness to partner the Stanbic IBTC in the area of Infrastructure Financing with particular interest in the Abia Medical City, the Obuaku Seaport and SMEs.

Governor Otti disclosed this in a business meeting with a delegation of the Executive members of the Stanbic IBTC led by the Group Chief Executive Officer, Mr Chuma Nwokocha at the Governor’s Office in Nvosi, Isiala Ngwa South Local Government government Area.

The Governor while noting that the Abia Medical City project for which land has been acquired with work expected to commence with the right partners, noted that his administration is at present conducting a feasibility study on the proposed Obuaku Seaport project.

He appreciated the group for their interest in partnering the state government towards providing citizens financial leverage to improve their welfare as well as grow their businesses.

Earlier, the Leader of the delegation and Group Chief Executive Stanbic IBTC, Mr Chuma Nwokocha, while applauding the level of transformation under Governor Alex Otti in the state, noted that Abia hosts one of Nigeria’s most concentrated industrial and commercial ecosystems anchored by dense SME, Market and manufacturing activity.

He said as Nigeria’s foremost integrated financial services group, they are in the state to discuss and exchange thoughts on how best to partner the state to further accelerate growth in all nooks and crannies.

He explained that the Banks interest in Abia is due to a convergence of values, purpose and ambition to better the lives of the ordinary citizen.

In their contributions, some Executive members of the delegation noted that Abians and residents have a lot to benefit from the partnership through the mortgage financial solution where interested Abians can access between 12.5 million Naira upto 100 million Naira.

They listed some of the packages embedded in the partnership to include support for Small and Medium Enterprises (SMEs), Value addition, support in Agro and Industrial growth, the IBTC Infrastructural Fund, IGR Enhancement among others.

The meeting was attended by the state Commissioner for Finance, Mr Uwaoma Ukandu and other members of the state IGR team.