The Anambra State government has signed a memorandum of understanding with investment value of 1.2 million dollar with Sunny Peace Manufacturing Cosmetics and Hair products, Oba.
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.
The MOU which was signed at the Governor’s lodge, Amawbia will run on public private partnership model.
The profit sharing formula for the project is Seventy five percent for the company, twenty five percent for the State, while the host Community will get five percent.
According to Governor Obiano, Sunny Peace Manufacturing is an indigenous Company which started small in the State, and has increased its capacity of wig production to one thousand tones daily, enough to service the entire South East.
The Governor continued that the Igbos are very interprising with their investments scattered all over the world, but it is regrettable 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.
The Managing Director of Anambra Investment Promotion and Protection Agency, Mr Jide Ikeakor explained that about two hundred people are currently under the employ of the company, with the potential to expansion to two thousand.
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 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.
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