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AfDB Deepens Partnership with Enugu Govt on Investment
The African Development Bank (AfDB) has reiterated its commitment to partnering with the Enugu State Government in the areas of investment, infrastructure, and other projects that would attract development and transform the lives of the citizens in the state.
This was even as the President of Skipper Seil Group, a globally renowned engineering, power and infrastructure company, Jitender Sachdeva, lauded Enugu State governor, Dr. Peter Mbah, over the positive steps taken in the energy sector, assuring that the company would partner to assist the state in developing its infrastructure.
Speaking at the Government House, Enugu, on Thursday, during a meeting with the governor at the Government House, Enugu, the Director-General of AfDB’s Nigeria Country Department, Lamin Barrow, said Nigeria was strategic to the development bank’s programmes.
He said that phase one of some of the programmes, especially in the area of Special Agro-Processing Zone (SAPZ) which was worth about $18 million had been approved.
He explained that the African foremost development and financial bank was in the process of rolling out the second phase, which would integrate the needs of Enugu State Government.
Barrow further said the phase two of the programme would support the implementation of the SAPZ project, which the state had already undertaken, pointing to agro-allied crops such as cassava, maize, among other strategic staples where the state commands competitive advantage.
“What the SAPZ is doing is to help develop value chains for these crops, adding value to primary crops, help in reducing post-harvest losses, develop strong linkages with stakeholder farmers, training and creating financial support for the farmers’ activities, but most importantly, driven by anchor private-sector investors”, he stated.
The DG of the AfDB also said the bank would assist the state in de-risking investment flow in its efforts to strengthen and enhance production, and drive agricultural produce beyond food security to export for the state and Nigeria in general.
On his part, Skipper Group President, Jitender Sachdeva, said his company had already concluded plans with the governor to construct the green special agro-allied industry zone, which also falls within the AfDB’s programme.
He said the infrastructure, which the company was collaborating with AfDB to step up, would facilitate the ease of doing business in the state and ensure self-sustained green electricity for each factory operating in the state.
“We are here for you in terms of infrastructure, power, agro-processing zones, among other projects. With the kind of energy, positivity, simplicity I have seen in you, around you, I can assure you we are going to start immediately,” he concluded.
Reacting, Governor Mbah expressed excitement over the choosing of Enugu State by the AfDB and other development partners for the second phase of the Special Agro-Processing Zone, saying his administration had already committed huge capital in the sector and would be ready to explore the opportunities AfDB presented to the state.
He assured the AfDB that Enugu had fulfilled all the pre-conditions for the project to take off.
“I want to inform you that Enugu State is ready and we have prepared all the prerequisite documentations, and all the surveys you need to be able to get started with this project.
“We have done the environmental and social impact assessments. We have identified a sizeable land that will host a Special Agro-Processing Zone, putting aside over 1000 hectares very close to the city that would be used for the Special Agro-Processing Zone. We have also done the feasibility studies”.
While underscoring that the state has a fertile land, almost performing better than other states in the cultivation and production of soya beans, cassava, rice, maize, cashew nuts, pineapple, among other food crops, the governor reiterated the effort of his administration to continue to make the state attractive to investors and tourists.
He explained that the state was full of economic and investment opportunities, calling on investors to see Enugu as their first choice for investment in the country, and promised that the ongoing state of emergency declared on the health sector would guarantee a healthy workforce.
The governor equally expressed interest in working with the bodies in the power sector to drive the state’s industrial revolution, insisting that Enugu was being positioned to play leadership role in the power industry given the recent enactment of the Enugu State Electricity Law.
“We’re now ready to play the role of a regulator in the electricity value chain, whether it’s generation, transmission or distribution. So in terms of the ease of obtaining your operating license, your construction licenses, you do not need to go beyond the state when we are in the position to provide those licenses, generating license, transmitting license and distributing license.
“We now have the regulatory commission to provide those licenses. In terms of the demand, you also have a huge demand for electricity. We have quite a number of industries here and we’re also even on the verge of bringing more because we’re already talking to some prospective investors,” he concluded.
Entrepreneurs backed by the Tony Elumelu Foundation (TEF) have generated more than $4.2 billion in cumulative revenue since the organisation began its grant programme in 2015, according to Somachi Chris-Asoluka, chief executive officer of the foundation.
Chris-Asoluka, revealed this during a virtual media briefing, where she also stated that over $100 million has been distributed to nearly 24,000 young entrepreneurs across Africa.
She noted that the beneficiaries of the programme have gone on to create about 1.5 million jobs, both directly and indirectly, across various sectors of the continent’s economy.
The performance, she said, has strengthened the resolve of the foundation and its partners to scale up financial support for emerging businesses.
Chris-Asoluka emphasised that the foundation’s interventions are anchored on the conviction that entrepreneurship is central to reducing poverty and reshaping Africa’s economic future.
She explained that selected participants receive a $5,000 seed capital grant, in addition to structured business training and mentorship designed to help them either expand existing enterprises or establish new ones.
Highlighting operational challenges faced by entrepreneurs, she identified inadequate electricity supply as a major constraint.
According to her, many small businesses spend as much as 60 per cent of their earnings on alternative power solutions, including generators and inverters.
To mitigate this challenge, she disclosed that Tony Elumelu, TEF founder, alongside the foundation’s leadership, has been engaging governments across Africa on the urgent need to improve power infrastructure.
She further stated that investments by programme beneficiaries cut across critical sectors such as agriculture, artificial intelligence, manufacturing, and technology innovation.
Chris-Asoluka also announced that the foundation’s 2026 cohort of entrepreneurs will be formally unveiled by Elumelu in Abuja.
A new financial operations platform, Morney, has officially launched in Nigeria to help businesses face growing pressure to digitise their finance processes as the country’s shift towards electronic invoicing.
Developed by Morzoe Technologies Inc. and introduced locally through its partner, BuySimply Services Limited, the platform is designed to help organisations streamline and automate financial workflows.
Speaking at the launch, Head of Growth at BuySimply, ‘Mide Olubi, said many Nigerian organisations still depend on fragmented systems such as emails and spreadsheets to manage expenses, supplier invoices and payments.
According to him, this approach often results in inefficiencies, delayed processes, weak oversight and a higher risk of errors.
He noted that Nigeria’s increasing adoption of electronic invoicing and tax digitisation frameworks is accelerating the need for structured and transparent financial systems. Businesses, he said, must move away from manual processes and adopt platforms that provide clear visibility into financial operations.
Morney integrates payments, procurement, expenses and invoicing into a single system, enabling finance teams to automate approvals, monitor transactions in real time and maintain accurate records.
The platform also supports supplier onboarding and invoice processing, helping organisations better manage operational spending.
The company revealed that businesses across sectors such as FMCG, manufacturing, energy, banking and telecommunications are already adopting the solution to improve efficiency and strengthen financial control.
It added that the partnership with BuySimply reflects a broader trend of digital transformation, as organisations respond to evolving regulatory requirements and the demand for more efficient financial management systems.
Dr Krishnan Ranganath (Krish) to Lead UniCloud Africa in Continental Digital Infrastructure Push
UniCloud Africa Limited, the premier pan-African cloud platform dedicated to advancing the continent’s digital sovereignty, has announced the appointment of Dr. Krishnan Ranganath as its Chief Executive Officer.
Dr. Krish, a seasoned industry leader known for building and scaling digital infrastructure while maintaining rigorous operational excellence, steps into the role as UniCloud Africa accelerates its mission to redefine the continent’s digital landscape.
The appointment coincides with the groundbreaking launch and immediate availability of UniCloud Africa’s enterprise-grade Sovereign Cloud and Artificial Intelligence (AI) infrastructure across six key markets: Nigeria, Ghana, South Africa, Zambia, Senegal, and Mozambique, even as it plans to launch in Kenya, Tanzania, DRC, Uganda, Ethiopia and Côte d’Ivoire as part of further continental expansion.
Operating under the mission of “One Cloud, One Africa,” UniCloud Africa provides governments and enterprises with a world-class, fully compliant sovereign cloud alternative to high-latency offshore providers,ensuring a robust, scalable foundation tailored to Africa’s unique environmental and economic needs.
“UniCloud sits at the epicentre of Africa’s cloud evolution. We are committed to deploying 100% sovereign infrastructure across the continent. My focus is on driving high-growth partnerships and scaling the next generation of resilient, sustainable cloud infrastructure to accelerate the evolution of the African digital ecosystem,” said Dr. Krish, CEO of UniCloud Africa Limited.
He disclosed that his focus at UniCloud Africa is on driving high-growth partnerships and scaling the next generation of resilient, sustainable cloud infrastructure, and will deploy GPUs in certain economies based on market potential and need.
While admitting that the challenges from AI integration to the green energy transition are immense, Dr Krish believes that the opportunities are greater. “I am eager to collaborate with our partners and customers to redefine the digital frontier and accelerate the evolution of the African digital ecosystem,” he added.
Ladi Okuneye, Co-founder and outgoing CEO (who remains as a director on the board) remarked: “As we enter this new chapter of growth, I am confident that Dr Krish’s extensive experience in the African digital landscape will add immense value. His technical depth and regional insight make him the ideal leader to drive UniCloud Africa forward.”
Before he was appointed CEO of UniCloud Africa, Dr. Krish was, until last month, the Regional Executive – West Africa at the Africa Data Centres (ADC).
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