INVESTMENT OPPORTUNITIES

Nigeria 2019 | KANO | VIP INTERVIEW

Since its inception in 2016, KANINVEST has attracted foreign investment in the areas of energy, textiles, and solid minerals.

What have been the agency's main focuses and achievements since being established in 2016?

KANINVEST has focused on the role of attracting investment into Kano State. Since its inception in 2016, it has attracted foreign investment in the areas of energy, textile, and solid minerals. In the area of energy, an agreement for the production of 100MW of electricity each has been signed with three companies from the US, Spain, and China. An investment of about USD600 million has been made by Chinese company Rvi Group for a textile industrial park in the state. KANINVEST has also attracted some domestic investors in the area of agro-allied industry and chemicals.

Which sectors of Kano's economy present the largest investment opportunities for international investors and the greatest potential for growth over the next few years?

Kano State is not endowed with hydrocarbon resources and does not receive revenue from hydrocarbons. This is truly an exception considering the dominance of hydrocarbons in the drive of revenue in Nigeria. KANINVEST is therefore focusing on areas that Kano State has comparative advantages in. In the coming years, KANINVEST will concentrate on attracting global and international investors in the areas of solid minerals, agriculture- and agro-based industries, and large-scale manufacturing due to the huge market in Kano State. We are also making an effort to attract international investors in the energy sector. Furthermore, there are many closed industries in Kano that we are looking at for international investors to acquire and revive for the benefit of the state economy.

The Kano State government has embarked on a drive to establish PPPs to drive economic growth. Where and how are you looking for these partnerships, and in which sectors will PPPs be most beneficial?

KANINVEST is assisting the Kano state government in sourcing PPP partners in the areas of housing, market development, and other areas that have significant impact on the economy of Kano State. The construction of an ultra-modern market in Kano is being undertaken under a PPP arrangement with Brains & Hammers Company, a Nigerian company involved in the construction of mass housing project in Abuja and Dubai. The development of the market has already reached advanced stages of construction. There are also proposals under consideration for mass housing program under a PPP arrangement. A modern abattoir is also to be constructed by an Egyptian company under a PPP arrangement. There is also a proposal for the production of electricity from waste under the same PPP arrangement, and this is receiving the consideration of the state government.

What message would you send to the global investor community about investing in Kano? How are you working toward raising awareness of Kano's investment attractiveness?

The main message to the global investor community is to come to Kano and invest. There are vast areas of opportunity for investment, and the Kano state government is willing to provide free land to any investor who comes to Kano to invest. KANINVEST is also prepared to assist the investor with any issues relating to getting federal or state government approvals. KANINVEST has a dedicated website that provides investors with all the information they need to invest in Kano. On certain occasions, KANINVEST has arranged international tours and roadshows to attract investors. Likewise, investors are encouraged and invited to visit Kano to see for themselves the opportunities available. Both the Executive Governor of Kano State and His Highness the Emir of Kano undertake trips to different parts of the world in order to attract investment to Kano. KANINVEST has also printed a special brochure for distribution by all agencies of Kano State that give potential investors a comprehensive run-down of the opportunities for investment.

What is your outlook for KANINVEST in 2019?

In 2019, KANINVEST will work to ensure the actualization of all previous agreements as well as engaging in other new proposals regarding investment in Kano State. ✖