MS & L GROUP ENGAGED AS MARKETING CONSULTANTS IN INDIA AND BRAZIL

As a drive towards enhancing the international visibility of Enyimba Economic City, the management of Enyimba Economic City Development Company Ltd (EECD) on Wednesday August 29, 2018 signed Marketing and Investment Promotion Agreement with MS & L Limited as Consultants in India and Brazil.

As part of the terms of the agreement, MS & L Limited is to leverage on its strong business networks in India and Brazil to identify and initiate discussions with Investors from both countries with African expansion plan or goals.

They are required to dutifully and professionally translate all necessary EECD documents to the local Lingua Franca for promotional activities.

By the terms of the agreement MS & L are also committed to securing no less than 10 target companies from each of the 2 countries to visit Nigeria for further engagement and contractual negotiations.

 

MS & L Limited is a Nigerian marketing company that partners with other marketing companies in other countries to promote specific investment interests, they are partnering with Linkoz Limited in India and Best Choice in Brazil for the investment promotions of the City.

TERM SHEET WITH FEDERAL GOVERNMENT FOR 20% EQUITY INVESTMENT IN EEC

The Federal Government of Nigeria (FGN) on August 17, 2018 through the Nigeria SEZ Investment Company Limited (NSEZCO) signed the Term Sheet (TS) as a basis for a definitive agreement for a 20% equity investment in Enyimba Economic City Development Company Ltd (EECD).

The Term Sheet capitalizes EECD at N50,000,000,000.00, NSEZCO will therefore acquire the 20% by paying for its shares in the company full in cash.

The Term Sheet specifies a maximum of 9 directors on the board of EECD with both NSESCO and Crown Realties appointing 2 directors each. Abia State and the Host Community will appoint 1director each.

By this agreement, 50% of capital of EECD is fully subscribed, leaving 50% for sale to the public, institutional and international investors.

Managing Director of Crown Realties Plc Mr C Darl Uzu signed the Term Sheet on behalf of Crown Realties Plc with Mr Femi Edun signing on behalf of NSEZCO.

 

COMMUNITY ENGAGEMENT MEETING WITH ABIA STATE GOVERNOR AND COMMUNITY STAKEHOLDERS

In the drive for continuous stakeholders’ engagement, a townhall meeting of stakeholders of Ukwa East, Ukwa West and Ugwunagbo local government areas where the Enyimba Economic City is sited was held at Abia Governors Lodge in Aba on August 15, 2018.  This is a follow up to the 2 earlier meeting of similar nature at the Aba Sports Club on Friday April 7, 2017 and Rowmay Hotel, Aba on Thursday, November 30, 2017.

In attendance for the meeting were the Governor of Abia State, His Excellency, Victor Okezie Ikpeazu, Mr C Darl Uzu, the Managing Director of Enyimba Economic City Development Company Limited and over 150 key stakeholders. The Governor and Mr C Darl both reiterated that the city will be developed in line with the equator principle of world bank which requires compensation. They both added the development company (EECD) have gone over and beyond that requirement with plans to grant equity to the community holding in addition to payment of compensation.

The governor added that the compensation would help to boost the commitment of landowners who would be co-drivers of the project. He also urged the stakeholders to set up committees in their communities that would sensitize their people on the need to support the project, which is expected to create over 500,000 jobs for Abia people.

The Commissioner for Lands and Survey, Chief Uche Ihediwa, who was also in attendance said the ministry’s interaction with the 34 communities involved had reached advance stage. He said the ministry was halfway through its second visitation tour of the communities “preparatory to enumeration, valuation, compensation and commencement of construction”.

The representatives of Ukwa East, Chief Paul Taribo, and Ukwa West, Chief Mezie Nwaubani, as well as former Commissioner for sports, Chief Chinwe Nwanganga and former Commissioner for Women Affairs, Chinedu Brown, thanked the Governor and the Private Sector Developers for siting the project in the area while assuring the Governor of their unwavering support in the bid to make the project a reality.

The meeting was well attended and also had in attendance the traditional rulers of the communities as well as other community leaders.

It is also recalled that Enyimba Economic City Project appointed Community Liaison Officer one each for the 39 communities to engage with stakeholders at the community level.