Imasuen Izoduwa, CEO of Ughoron Group of Companies and convener of the Benin Investors Conference, has unveiled a new socio-economic initiative targeting Edo South. The conference, scheduled for December, aims to address economic development challenges in the region. Izoduwa stated that the initiative directly responds to "the absence of a coordinated economic movement among Benin people despite decades of socio-cultural and political engagements." His remarks noted a pressing need for structured collaboration among stakeholders to foster wealth creation and drive sustainable development across the senatorial district. The overall initiative aims to reposition Edo South as a dynamic hub for investment, entrepreneurship, and collective wealth creation, leveraging local potential and diaspora engagement.
Conference Details and Initiatives
The three-day conference will feature a full program designed to foster economic growth and collaboration. This strong agenda includes dedicated investment sessions, invaluable mentorship engagements, and key business networking opportunities, all tailored to connect various stakeholders. The event will also include recognition awards for individuals and entities that have made significant contributions to regional development, celebrating their impact and inspiring further efforts. During the conference, three strategic initiatives are slated for launch, each targeting specific areas of economic development: the Benin Film Enterprise, designed to boost the creative economy; the Benin Entrepreneurship and Mentorship School, aimed at nurturing new business talent; and the Benin Trust Fund, a collective financial mechanism. The Benin Trust Fund is designed to operate through a digital contribution platform, enabling individuals to make daily contributions ranging from N50 to N500, making participation accessible to a wide demographic. Professionals drawn from the seven local government areas within Edo South will manage the resources generated by the Benin Trust Fund, ensuring localized oversight and strategic direction of investments that directly benefit the community.
The 'Benin First Philosophy'
A guiding principle behind these full efforts is the "Benin First Philosophy." This philosophy encourages economic patronage and investment specifically within the Benin community, aiming to channel resources and opportunities internally to stimulate growth and self-sufficiency. The initiative seeks to reposition Edo South as a central hub for investment, fostering entrepreneurship and collective wealth creation within the region by prioritizing local capital and talent. This approach intends to cultivate a self-sustaining economic environment, aligning local capital with local business development and ensuring that generated wealth circulates within the community, thereby multiplying its impact.
Vision for Economic Transformation and Growth
The Benin Investors Conference is specifically designed to link Benin professionals, investors, entrepreneurs, and diaspora stakeholders with young talents and emerging businesses throughout the seven local government areas of Edo South Senatorial District. This strategic connection aims to bridge gaps, facilitate knowledge transfer, and unlock new opportunities for growth. The initiative aims to foster economic cooperation, mentorship, and self-reliance, with the ambitious goal of transforming Benin society into a globally competitive economic community. A key financial projection for the initiative indicates the significant potential of collective action: if 200,000 contributors commit N100 daily to the Benin Trust Fund, the program could generate over N7 billion annually. This substantial funding mechanism is intended to support the broader vision of economic transformation and wealth creation within the region, providing capital for new ventures, educational programs, and infrastructure improvements. The conference and its subsequent initiatives represent a concerted effort to harness the collective economic power of the Benin people for sustainable development and prosperity.
