On-going Transactions

FREE TRADE ZONES (CALABAR & KANO FTZs)

 

BACKGROUND (KANO FREE TRADE ZONE )

  • Kano state is in close to many other West African Countries like Chad, Niger, Mali etc. which could serve as export markets for the companies.
  • Kano is the largest consumer market in Nigeria, with a population of 13 million people (approx).
  • Abundant natural resources such as Gum, Sesame seeds, Groundnuts, Garlic, Tomatoes, Pepper, Ginger, etc.
  • Part of the African Growth and Opportunity Act (AGOA) approved by the U.S. Congress to improve economic relations between the two countries.
  • Availability of skilled and unskilled labour at

BACKGROUND (CALABAR  FREE TRADE ZONE {FTZ})

  • Located near Port of Calabar in the cross River State, Nigeria
  • Covers an area of 152 hectares.
  • Allows the investors to produce goods and services for export but also permits them to conduct other business-related activities such as assembly, distribution, packaging, warehousing, etc.
  • Proximity to both the Calabar port and the Centre of Calabar, Nigeria which makes it easy for transportation of the goods produced.

PROSPECTS

  • Levieso¬†¬† Rent for Space for first 6 monthso¬†¬† No Strikes or Lockoutso¬†¬† Standard Rules

    o   No application of Import License or any Expatriate Quota

  • Local Sponsor for Foreign Investor

CALABAR FTZ

  • ¬†Constant Power and water Supplyo¬†¬† all the necessary service and infrastructureo¬†¬† Approvals for all Permits and Licenses under a Single Roof
  • Fortified Security

Nigeria is having one of the largest economies in Africa and has the potential to become one of the biggest economies of the world

 

Sources: https://businesssetup.com/ng/kano-free-trade-zone