Governor Peter Mbah of Enugu State has urged Ndigbo to move beyond personality-driven enterprises and start building structured, multi-generational business institutions that can outlive their founders.
Speaking on Monday during the commissioning of the Enugu office of Afrinvest West Africa Limited, the governor—represented by his deputy, Ifeanyi Ossai—said the time had come for the Igbo to build enduring business systems rather than personal empires.
“We, Igbo people, are known for strong personalities. Everyone wants to own an Ifeanyi Ossai Nigeria Limited. However, we must evolve to build systems like Guinness or Nigerian Breweries that outlive their founders,” he said.
Mbah described Afrinvest’s entry into Enugu as “timely and transformational,” saying its services in investment banking, asset management, and securities trading would strengthen the state’s business ecosystem.
He called on the firm to partner with local entrepreneurs and help them shift from personality-based ventures to structured institutions that can survive beyond their founders.
“Businesses cannot thrive where support services that drive investments do not exist. The kind of services Afrinvest offers—from capital mobilisation to business structuring—are the backbone of a sustainable economy,” he said.
The governor also urged Afrinvest professionals to mentor students and young innovators across Enugu’s universities to nurture a knowledge-based economy. “With the number of universities in Enugu, we should be leading a knowledge-based economy,” he said.
Afrinvest Commits to Supporting Local Enterprises
Afrinvest Group Managing Director, Dr Ike Chioke, said the firm’s expansion into Enugu had long been planned but only became possible under the Mbah administration.
“We had planned to come into Enugu three years ago during the former governor’s tenure, but it did not materialise. When Mbah came on board and began transforming Enugu into a business-friendly environment, the urgency to open this office increased,” Chioke said.
He added that Afrinvest would bring its expertise in banking, consulting, fintech, microfinance, and corporate governance to support local businesses and ensure continuity beyond the founders.
“Too often, we see successful entrepreneurs build big businesses that collapse once the founder dies. That’s why we’re bringing our experience in governance strategy, capital raising, and leadership development,” he said.
Chioke said his decision aligns with the Igbo philosophy of ‘Aku ruo uno’—think-home—adding that Afrinvest already partners with Enugu State through its sponsorship of Rangers International Football Club.
“The essence is that our clients here will not just invest in the stock market or keep their money in banks; they will learn how to build businesses that last,” he said.
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