Anambra State is the 6th largest economy in Nigeria with an estimated GDP of $12.73bn. This is according to Africa Facts Zone. This makes it a good place to make investments. There are many benefits for you if you invest in Anambra State even while you live abroad.
The state is one of the powerhouses in South Eastern Nigeria boasting a population of over 12 million people. Anambra State is considered the wealth capital of the east. There are various investment opportunities in the state.
From real estate to agriculture, vehicle manufacturing, and assembling to food processing, Anambra State provides a fertile ground for high returns on investment.
In this article, we will be walking you through how you can invest in Anambra State even if you live abroad.
What are the Investment Opportunities in Anambra State?
The light of the nation, Anambra State, has a lot of investment opportunities. If you are living abroad and want to invest in Anambra State, here are opportunities you should consider;
1. Real Estate
Real estate investment is lucrative in Anambra State. The state is one of the top destinations for property investment. Buying a property in Anambra comes with numerous advantages.
The state boasts of many businesses and business owners which attracts an influx of people. These people come in the form of employees or entrepreneurs. As a result, the need for housing keeps rising.
Keying into the real estate sector will bring you good returns on investment.
Read Also: How I Can Help You as a Realtor in Your Real Estate Investment Journey
2. Agriculture
In 2017, Anambra State attracted a $60bn Agric investment. The state has almost 100 percent arable soil, suitable for agricultural activities. If you want to invest in Anambra as a Nigerian who lives abroad, the Agric sector is a good place to start.
Food will always be a necessity as long as life continues and farmers need lands and other resources to meet the growing demands of the populace. You can invest in agriculture by acquiring farms or by going into food processing.
3. Automobile Manufacturing
Anambra state is home to Nigeria’s first automobile manufacturing plant. The state has thrived successfully with the amount of interest that has been drawn to it.
Nnewi, known as the “Japan of Africa” is a hub for automotive parts, machinery, and consumer goods manufacturing. Investing in manufacturing in Anambra offers high returns, given the availability of raw materials and skilled labor.
4. Education and Healthcare
There is a growing need for quality education and healthcare services in Anambra State. Investing in these sectors can yield significant social and financial returns. You can establish schools, vocational training centers, hospitals, and clinics.
5. Technology and Innovation
The technology sector in Anambra State is gradually gaining traction. There is potential for investment in tech startups, IT infrastructure, and digital services. Putting your money into innovation hubs and tech incubators can also be a lucrative venture.
What are the Benefits of Investing in Anambra State?
Beyond being a fertile ground for investment, Anambra state has some benefits that make it a choice location for investment. If you invest in Anambra as a Nigerian who lives abroad, you’ll enjoy the benefits listed below:
1. Economic Potential
Anambra State has a diversified economy driven by sectors such as agriculture, manufacturing, commerce, and services. It boasts one of the best and most stable economies in the country.
The state’s business-friendly environment makes it an attractive destination for investors. Major cities like Awka, Onitsha, and Nnewi are renowned for their commercial activities.
2. Large Market
What is an investment without a market? Anambra state has a ready market that serves up significant return on investment. Being a commercial and manufacturing state places it in a position that attracts a large market.
People come in their thousands and tens of thousands to do business in Anambra state. Cities like Onitsha and Nnewi account for most of the visits. Investing in Anambra puts you in a position to benefit from this large available market.
3. Government Support
The government of Anambra State has done a great job in providing an enabling environment for investors. Various policies and incentives have been put in place to attract foreign and local investments, including tax holidays, land acquisition assistance, and infrastructural development.
The state has thrived in business and investments without encumbrance from the government. This gives a level playing ground for investors who want to do business in the state.
How Can I Invest in Anambra as a Nigerian Who Live Abroad?
We have discussed the various investment opportunities available in Anambra state. Now, before you go on to make an investment, there are things you must do. As someone living abroad, you must take extra care to ensure you are not making a blind investment.
This is how you can invest in Anambra state even while you live abroad;
1. Choose where to invest
This is a very important part of your investment journey. Before throwing your money into any investment, choose which one you are going for. We have already discussed them earlier in this article, you can make your pick.
It is always better to choose a sector you are most familiar with or have some knowledge about.
2. Research and Due Diligence
There have been cases of swindlers getting the better of investors in the diaspora, you’d want to avoid that. Before making any investment, conduct a thorough research and due diligence.
Understand the market dynamics, regulatory environment, and potential risks. You can get valuable information and support from the Anambra State Investment Promotion and Protection Agency (ANSIPPA).
3. Develop a Business Plan
A well-structured business plan is essential for any investment. It can help you secure partnerships and some funding if you need them.
Even if you’ll be going solo with your investment, a well-structured business plan is still necessary. It outlines your investment goals, strategies, financial projections, and risk management plans.
4. Fulfil Legal and Regulatory Requirements
Familiarize yourself with the legal and regulatory requirements for investing in Anambra State. This includes obtaining necessary permits, and licenses. You must also adhere to tax regulations.
Get legal advice from professionals with expertise in Nigerian business law. This can be invaluable.
5. Build Local Partnerships
You are living abroad and would need to have eyes on your investment(s) in Anambra state, a local partnership can ensure this is done. Building strong local partnerships is crucial for the success of your investment.
Partner with local businesses, professionals, and government agencies. This provides insights, resources, and support that are essential for recording success in your investment in Anambra State.
There are many successful businesses in Anambra both locally and internationally owned. Making investments in the State from abroad can yield enormous returns when done. If you want to invest in Anambra State and succeed even while you live abroad, follow the steps listed in this article. This will set you on your path toward a successful investment journey.
