Emerging Africa to Partner with South-south Govts on Human Capital Devt

Blessing Ibunge in Port Harcourt

An environmental, social and governance focused investments group, Emerging Africa Capital Limited (EACL) has expressed its commitment in developing   the South-south region through engagement with the various states government on human capital development.

The Executive Vice-Chair, EACL, Dr. Toyin Sanni, stated this during the official opening of the company’s  office in Port Harcourt, the Rivers state capital.

EACL commenced operations in 2018 with controlling interest in 10 subsidiaries which provides financing and investing solutions to public and private sector projects.

The firm also facilitates a wide range of investment and financing transactions leveraging strong and stable partnerships with domestic and international partners such as local and regional public and private sector issuers, sovereign and sub-national governments.

According to  Sanni,  with the unveiling of the new office, the company has brought financial and investment opportunities to Port Harcourt,  Rivers state and South-south region at large.

Sanni, who explained that the strongest objective of the company is to deepen access to finance for businesses of all sizes, for communities, for governments and all kinds of institutions, said they also provide opportunity to build wealth and  creates investing opportunities for desiring investors.

She said: “For those who work hard and want their money to work hard for them, we provide investment opportunities through our different subsidiaries who are duly regulated by financial services regulators.

“We are professionals. All the parties that play roles regarding investment and monies are duly registered, recognised and authorised professionals either by the security exchange commission with respect to our capital market business or by the Central Bank of Nigeria with respect to our banking businesses.

“We have a track record both as a corporate of never for one day defaulting in any obligation to any client, and also as individuals, we have track record of excellence in our roles and banking careers.

“We are not an institution that was established by some opportunists that are looking for how to access peoples’ monies, we were established by tried and tested professionals. I am a tried and tested finance professional of close to 40 years experience in banking and finance.”

On partnering with state governments in the region to drive human capital development goal, the Executive Vice-Chair expressed: “We are driven by a desire to make impact and we think that the people of South-south of Nigeria deserve an opportunity to grow and scale up the same way that has been given to those other communities where we serve.”

She stressed that “As a business, we are employing the youth and members of this community. We will continue to provide and create jobs for the people of Rivers state. The businesses we will support to also deepen financial access to them, will also help to employ more citizens and residents of this state.”

According to her, “The state government itself is an entity that we hope to partner with as we have helped other Nigerian states to raise funds from the capital market to build roads, bridges, hospitals, schools. These are opportunities that we hope to explore with the state because all these will develop and create social capital for the people of Rivers state.

“Very important we have a dedicated capacity building vision of Emerging Africa Group, one of the very few financial institutions, investment bank that have our own dedicated capacity building entity which will also engage with our clients and partners to be able to build capacity and help people,” Sanni added.

In their various remarks, representatives from Bayelsa, Rivers and Delta States lauded the company for bringing such financial institution in the region, aligning with EACL in their governments’ visionary human capital development.

Secretary of the Port Harcourt Local Government Council, Mr. Chile-Kay Owuru assured  the company and others of peaceful and crime-free environment for the investment to thrive, acknowledging its positive impact on the people of the state, particularly, residence of Port Harcourt. He said the investment will boost the economy of the state.

Earlier in his address, Group Executive Director, Abuja, EACL,  Mahmoud Shuaib, who thanked the guests at the event, said the expansion of the company to the South underlines the unwavering commitment to extending their impact and fostering growth across diverse communities throughout Africa.

Reflecting on the company’s trajectory since its inception in 2018, Shuaib said what began as a vision to redefine Africa’s financial landscape has blossomed into a tangible reality, fueled by its steadfast dedication and unwavering resolve.

He said: “Emerging Africa Group has been steadfast in its mission to catalyze Africa’s emergence as a global hub for Environmental, Social, and Governance investments and finance. Our journey thus far has been marked by exponential growth, evolving from a modest collective of four companies to a robust network of ten entities.

“This expansion not only speaks to our  ambition but also underscores our commitment to diversifying our offerings and delivering holistic financial solutions to our esteemed clients. Moreover, our footprint has extended from a single location to 10 strategically positioned offices across Nigeria, Mauritius, and the United Kingdom, further solidifying our presence on the global stage.”

Shuaib explained further that “Beyond numerical metrics, our success story is defined by the tangible impact we have made on the financial landscape. From investment banking to asset management, from microfinance to fintech, we’ve cultivated a comprehensive ecosystem that addresses the evolving needs of our clientele with precision and efficacy.

“Our financial performance stands as a testament to the resilience and efficacy of our strategies. Over the period from 2019 to 2023, we have witnessed remarkable growth across key metrics, including an average annual revenue growth rate of 77 per cent, a 66 per cent increase in profit before tax, a 75 per cent growth in shareholders’ funds, and a notable 103 per cent surge in total assets.”

He reaffirmed the company’s steadfast commitment to upholding the highest standards of corporate governance, fostering a culture of excellence and integrity, and championing the economic transformation of Africa.