Enugu State Governor, Peter Mbah, has urged Igbos to move beyond personality-driven business models and embrace structured, multi-generational institutions capable of sustaining and growing the Southeast economy.

Mbah made the call in Enugu during the official opening of a branch of investment banking giant, Afrinvest (West Africa) Limited.

Represented by his deputy, Ifeanyi Ossai, the governor said that for businesses in the region to thrive beyond their founders, they must be supported by robust investment-driven structures and professional services like those offered by Afrinvest.

“We Igbo people are known for strong personalities. Everyone wants to own an Ifeanyi Ossai Nigeria Limited. But we must evolve to build systems like Guinness or Nigerian Breweries that outlive 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 very backbone of a sustainable economy,” he said.

Ossai described Afrinvest’s arrival in Enugu as “timely and transformational,” noting that its range of services would strengthen the state’s investment ecosystem.

He urged the company to help local entrepreneurs transition from personality-based enterprises to structured, enduring institutions and to engage with tertiary institutions in the state to mentor students and young entrepreneurs.

“With the number of universities in Enugu, we should be leading a knowledge-based economy. I urge Afrinvest to visit these institutions and help shape the next generation of business leaders,” Ossai added.

Afrinvest Group Managing Director, Dr. Ike Chioke, said the firm had long planned to expand to Enugu but found the right environment under the Mbah administration.

“We had planned to come into Enugu three years ago during the administration of former governor Ifeanyi Ugwuanyi, but it did not materialise. When Peter Mbah came on board and began transforming Enugu into a business-friendly environment, the urgency to open this office increased,” Chioke said.

He explained that Afrinvest would leverage its expertise in investment banking, asset management, securities trading, trusteeship, consulting, research, fintech, and microfinance to help businesses in Enugu grow sustainably.

Chioke noted that many successful Igbo-owned enterprises collapse after the founders’ demise due to weak governance structures.

“There are standardised ways of ensuring business continuity, raising capital, and hiring the right people. That wealth of expertise which we’ve long provided clients in other regions is what we’re gladly bringing to Enugu,” he said.

He added that the firm’s expansion aligns with its “Aku ruo uno” (think-home) philosophy, noting that Afrinvest already enjoys a strong relationship with the state through its sponsorship of Rangers International Football Club.