Aloysius Attah, Onitsha
The Anambra State Government has signed a Memorandum of Understanding (MoU) for an investment value worth 1.2 million US dollars with Sunny Peace Manufacturing Cosmetics and Hair products, Onitsha.
Governor Willie Obiano signed on behalf of the State Government while the Managing Director and Chief Executive Officer of Sunny Peace, Mr Sunday Ogbu signed on behalf of the Company which is expanding its production facilities in Oba community.
The MoU will run on public private partnership model with a profit sharing formula of Seventy five percent for the company, twenty five percent for the State, while the host Community will get five percent.
Speaking during the signing ceremony, Governor Obiano disclosed that Sunny Peace Manufacturing is an indigenous hair products company which started small in the State, and has increased its capacity of wigs, weave-on, hair foods and cosmetics production to one thousand tones daily, enough to service the entire South East.
Gov. Obiano said the project coming on stream would stop people from travelling to China to source for such products again and would promote and also strengthen the economy of the state, as well as create various direct and indirect jobs for youths.
The Governor noted the enterprising spirit of the Igbos with their investments scattered all over the world, but regretted that that very many of them are yet to heed the think home philosophy call, stressing that Security has been put in place in Anambra State, even as the ease of doing business in the State has improved greatly under his watch.
He urged investors to bring their businesses home and assured them of maximum security and friendly environment that would boost their productivity
The Managing Director of the Company, Mr Sunday Ogbu hinted that he has been in business for over seventeen years, saying that his drive is to impact on the economic goal of the state to reduce unemployment, adding that he targets to build a formidable industry that will be the choice destination for hair and cosmetic products.
He commended Gov. Obiano for his all-inclusive governance and `Aku luo uno’ policy, which had attracted more investors to the state
Managing Director of Anambra Investment Promotion and Protection Agency, Mr Jide Ikeakor explained that the poject worth N525 million equivalent will boost the company presently operating with about two hundred people under its employ , with the potential to expand to over two thousand workers in a short while.