By Janefrances Chibuzor
Famous for its manifold historic trade and cultural legacies, Nigeria’s ancient city of Kano has sustained a reputation for business that extends to North Africa and pre-dates the colonial administration. Therefore, the emerging Kano Economic City (KEC) has been conceptualized to return Kano to its prime spot as a major economic hub in the West Africa sub-region.
Built as a Public Private Partnership (PPP) between the Kano State Government and Brains and Hammers Limited, the project is designed as an architectural masterpiece and a model for future development of markets in West Africa. So far, over 3234 shops have been constructed and have mostly been sold.
Some of the sections of the Kano Economic City that are currently under construction and are at various stages of completion include; the Coordinated Wholesale Centre. This complex has 2100 shops with warehouses that will house businesses of all pharmaceutical products in Kano under the control of regulatory bodies like Pharmaceutical Council of Nigeria (PCN), Standard Organisation of Nigeria (SON), and the National Food and Drugs Administration of Nigeria (NAFDAC). Over 1000 shops and a number of of warehouses have been completed, sold and the market is ready for commissioning this month, November, 2022.
There is the GSM-ICT section, which is at over 80 percent completion. Over 1410 shops have been constructed, out of which 670 have been sold and paid. Financing that will enable the completion of the construction of 10,000 shops for occupation by the popular Kano Textile Trades of Kantin Kwari is currently being arranged. Brains and Hammers has signed an agreement with Jaiz Bank Plc for the construction of a Trailer Park; while a Container Terminal is under construction.
According to Mr. Ibrahim Bako, Director of Brains and Hammers, in-charge of the Kano Economic City, a lot of credit must go to Jaiz Bank Plc. He said, “Jaiz believed in the project from the beginning and has stayed course. The bank has even opened a functional branch inside the KEC to demonstrate the extent of its commitment. Although there has been a recent change of baton in the leadership of the bank, the new Managing Director/Chief Executive Officer of Jaiz Bank, Dr. Sirajo Salisu is very familiar with the project and we are confident that we will continue to enjoy a very good working relationship with him.”
The Kano Economic City is being developed on a 117-heactares land provided by the Kano State Government. The developer, Brains and Hammers is mandated to construct and sell the shops and trade complexes within the KEC.
Caption: Ibrahim Bako, the Brains and Hammers Director in charge of Kano Economic City (KEC).
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