The Adamawa State Investment Promotion and Public-Private Partnership Coordination Unit (ADIPA) recently organized a roundtable discussion to foster collaboration between investors and lenders, aimed at enhancing business growth in the state. This initiative is intended to close the knowledge gap that has hindered access to financial resources and promote sustainable growth for local businesses.
Halilu Malabu, ADIPA Project Coordinator, explained that the meeting was in response to requests from existing investors seeking to scale their businesses beyond self-funding limits. “We recognized that lenders, including banks, have funds earmarked for such growth, yet awareness among investors remains limited due to a lack of information,” Malabu said. He highlighted ADIPA’s role in facilitating these essential interactions to advance mutual interests for Adamawa State’s economic prosperity.
The roundtable offered investors insight into accessing credit facilities without relying on connections or engaging in corrupt practices. With banks present, investors could ask questions and receive direct clarifications on credit accessibility. Malabu pointed out that many lenders have targets for fund disbursement, which can only be met if businesses fulfill the minimum requirements. “I’m pleased to see that everyone here is satisfied with the discussions and eager to explore new growth avenues,” he noted.
To ensure continued progress, ADIPA has established a follow-up mechanism to track commitments between investors and lenders. Malabu announced plans for two additional sessions, with the second scheduled for December, allowing ADIPA to review outcomes and celebrate achievements.
Franka from Union Bank praised the state’s initiative to bridge the gap between lenders and investors. “Union Bank is committed to supporting agriculture and other sectors. We’ve established a dedicated agricultural desk to assist investors in this field,” she stated, expressing confidence in the impact of these connections on business relations.
Ibrahim Modibbo, Deputy President of the Adamawa Chamber of Commerce, and Yunusa Ibrahim, Chief Operating Officer of the Adamawa State Agricultural Business Support Program, commended ADIPA for creating a valuable platform that strengthens the state’s business ecosystem.
The session concluded with a Q&A segment, allowing further clarity on how investors can maximize available resources to stimulate economic development in Adamawa State.