Kano State aims to attract over $10 billion in investments in renewable energy and solid minerals within five years through strategic partnerships with leading Moroccan companies following a high-level investment mission

The Kano State Government has announced a groundbreaking partnership with prestigious Moroccan companies that is projected to attract over $10 billion in investments in renewable energy and solid minerals development within the next five years.

Also read: Kano government establishes State-Owned security outfit

This development follows a successful high-level investment mission to the Kingdom of Morocco led by Governor Abba Kabir-Yusuf.

The state government revealed that it is set to sign a series of investment Memoranda of Understanding (MoU) with Moroccan entities, focusing on key sectors including renewable energy, agriculture, and commerce, as part of its strategy to significantly reposition the state’s economy.

During the investment mission, the Kano delegation held strategic meetings with prominent Moroccan institutions such as the Ministry of Energy Transition and Sustainable Development, the Moroccan Agency for Sustainable Energy (MASEN), the Moroccan Agency for Africa (OCP Africa), and the Casablanca Chamber of Commerce.

The anticipated agreements with these institutions will explore various aspects of investment, including investor identification, innovative financing models, and the adoption of cutting-edge technologies for efficient energy storage and distribution, particularly to support industrial activities within Kano State.

The Casablanca Chamber of Commerce, a leading private sector platform in Africa, expressed strong interest in collaborating with Kano State in the development of both renewable energy and solid minerals sectors.

This partnership is expected to boost the state’s economy and contribute to the projections of attracting up to $10 billion in investments over the next five years in line with the state’s strategic investment plan,” said Sunusi Bature Dawakin-Tofa, media aide to Gov. Abba Kabir-Yusuf.

This collaboration is expected to be a significant catalyst in achieving the state’s ambitious investment target of $10 billion over the next five years, aligning with its strategic investment blueprint.

Furthermore, the delegation engaged with OCP Africa, a global leader in fertilizer production. OCP Africa welcomed the partnership and proposed new agricultural development projects encompassing the establishment of fertilizer blending plants, the implementation of advanced supply chain systems, and the provision of support for smallholder farmers through the integration of modern farming technologies.

A key outcome of the investment mission is a proposed partnership with MASEN, renowned for managing one of Africa’s largest solar power plants in Ouarzazate (500 megawatts).

MASEN has pledged to offer technical collaboration and share its extensive expertise and lessons learned to support Kano State’s “Light-Up Kano Initiative,” which aims to generate 2,000 megawatts of solar energy within the next five years.

This visit marks a significant step forward in Kano State’s commitment to forging international partnerships to accelerate industrial growth, facilitate a transition to clean energy sources, and promote sustainable agricultural development.