COVID-19: KanInvest Secures N10bn CBN Fund to Revive Industries in Kano

The KanInvest and Diaspora, in partnership with the Links, a UK-based company and the Manufacturers Association of Nigeria (MAN), has secured N10 billion intervention fund from Central Bank of Nigeria (CBN) in its bid to revive industries affected by the COVID-19 pandemic disease in Kano State.

The intervention fund targets at least 50 companies that had been affected by the pandemic under the state’s Turnaround Project.

The Director General of the Kan Invest and Diaspora, Ms. Hama Ali Ware, said yesterday during a sensitisation meeting on the Kano State Turn around Project at Government House that the aim of the programme is to facilitate the revival of the affected companies in order to sustain the prosperity of the state.

Ware also added that the CBN has agreed to support the project with additional funds if the need arise sin the future, adding that the agency would interface with the affected companies on one-by-one basis to get information about the problem they are facing and how to support them.

Ware said: “We will sit down and discuss with the companies, one by one, not crowd. Through that way, we will gather information about the problem of a company and see the way to support it.

“The KanInvest and Diaspora, in collaboration with the MAN and the Links decided to come up with this initiative in order to support our affected industries because it is a worrisome situation that industries affected by COVID-19 and other problems are not functioning in Kano, which is known as the commercial nerve centre of northern Nigeria.”