By Emma Okereh
As part of efforts to tackle pressing development challenges in the South-East region, the South East Business and Investment Summit (SEBIS) is collaborating with a range of influential partners, including the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and several bilateral and multilateral trade organizations.
The summit scheduled to take place from December 11 to December 13 in Enugu, is poised to mark a significant event for regional economic development.
At a recent visit to SMEDAN’s management in Abuja, Dr. Ifedi Okwenna, Executive Secretary of SEBIS, emphasized its goal of attracting significant investment to the region. Dr. Okwenna revealed plans to mobilize a $1 billion fund over the next five years to bolster the growth of small and medium enterprises (SMEs) in the area.
“We are bringing together investors and business leaders to revitalize the South-East,” Okwenna stated. “Our partnerships with governmental and public organizations worldwide aim to pool resources to support SMEs.”
Leveraging from the success of previous investment forums, SEBIS will continue to promote the region as an attractive investment destination. The upcoming summit will unveil the Regional Investment Action Plan for 2025-2030, a comprehensive strategy designed to consolidate and enhance investment in the South-East, in alignment with SEBIS’s ambitious $1 billion Comprehensive Investment Portfolio.
Dr. Okwenna underscored that SEBIS represents the most inclusive intergovernmental platform in the South-East, focused on fostering sustainable and resilient development. “We are committed to generating action-oriented knowledge and providing technical assistance to align with national development goals and the South East Sustainable Development Agenda,” he added.
As anticipation builds for the South East Business and Investment Summit, stakeholders remain hopeful that the collaboration with SMEDAN will yield significant benefits for SMEs and the broader regional economy.
On his part, Mr. Darl C. Uzu, Lead Private Sector Partner of Enyimba Economic City (EEC), emphasized that the upcoming summit aims to forge strategic partnerships and develop programs designed to attract SMEs from around the world, particularly from Southeast Asia and Nigeria. He noted that numerous diaspora groups and investment communities from Europe, India, and America are poised to participate in the significant economic summit in Enugu.
Uzu highlighted the scale of involvement, mentioning, “We have over 100 companies coming from India, and we will support them in developing their SMEs.” He also discussed plans to facilitate SME growth through targeted training in essential industry skills. “This important summit will help us find innovative ways to support and energize SMEs,” he added.
Mr. Charles Odii, Director-General and Chief Executive Officer of SMEDAN, echoed these sentiments, highlighting the agency’s commitment to enhancing SME growth through various initiatives. He pointed out the agency’s hubs dedicated to fashion and textiles, woodworking, packaging, and recycling.
“One of the critical challenges facing small businesses is the lack of electricity, financing, and skilled personnel,” Odii explained. He announced that SMEDAN would organize a matching program for funding and facilitate the participation of at least 25 entrepreneurs from each South-East state at the summit to showcase their products.
Odii is also slated to present a paper titled “Organised SMEs as a Bedrock of Increased Investment, Economic Stimulation and Growth” during the summit. This presentation will underscore the vital role that organized SMEs play in driving economic development and innovation within the region.
As excitement builds for the South East Business and Investment Summit, stakeholders from various sectors remain hopeful that the collaborative efforts will lead to significant advancements for SMEs and the broader regional economy. The summit represents a critical opportunity for entrepreneurs, investors, and policymakers to come together, share insights, and forge partnerships that can transform the economic landscape of the South-East for years to come. Through these concerted efforts, SEBIS aims not only to stimulate immediate growth but also to lay the groundwork for a sustainable and prosperous future for the region.
