Infrastructure is extremely critical for the rise of Nigeria. Despite the current effervescence in entrepreneurial capitalism which we are witnessing in digital startups, from edtech to fintech, healthtech to ecommerce, and beyond, for Nigeria to unleash its full potential, it needs to build real infrastructure. Interestingly, doing that will not necessarily come from governments because to a large extent, the public sector is an “infrastructure” that also needs to be well funded; a story for another day.
So, when I read that Stanbic IBTC has unveiled a N100 billion Infrastructure Fund to address Nigeria’s development gap, I wanted to know more. I attended a webinar the financial services giant held on the topic on August 2 and I have to say that they have a great playbook to build our critical infrastructure within the ordinance of turning our challenges into market opportunities.
According to the Asset Manager, “The Stanbic IBTC Infrastructure Fund is tailored at addressing these challenges by providing infrastructural investment in critical sectors of the economy such as energy, telecommunications, healthcare, water treatment, waste management, communications, and transportation, amongst others.”
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I believe this is an alternative investment solution aimed at linking project owners and long-term investors.
This is how you build a nation and I commend the organisation. Just this week, I wrote about the flooding in Lagos Island. While Lagos has the media attention, if you go to most parts of the South-east, erosion has taken communities. In the north, deforestation is reshaping ways of living. So, besides the governments at different levels, funders have to rise. Well done, Stanbic IBTC; its parent company gave me my first invitation to South Africa, and you cannot beat that!
The first N20 billion tranche is currently open for subscription and closes on 25 August 2021. Investing subscriptions begin at about N10million and you can attend their next webinar on the subject which is scheduled for Tuesday, 10 August 2021. Check link for free registration
You can send an email to asset [email protected] to learn more.
It takes both private and public to create a rise!