Credent Capital & Advisory Company says it is working out a business deal with Kano State government under a Public-Private Partnership (PPP) that will help re-set the $800 million Kano film industry popularly known as Kannywood.
The initiative, the company disclosed, is to reverse the losses which the industry is experiencing due to improper structure emanating from the limited knowledge and skill among practitioners.
Charles A. Kachill, group managing director of the company, stated the initiative is expected to return the industry to the path of viability and growth which will bring about a total repositioning of the industry.
Kachill made this known last week while making a presentation on the potentials of the Kano film industry during the Kano State Executive Council Meeting held at the Government House, in Kano.
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According to him, the partnership arrangement which his company designed is the first of its kind to be proposed by any sub-national entity in the country to develop the creative sector.
“Kannywood is over $800m industry. But it is not structured in such a way that it can benefit from many interventions in place by the Federal Government, and other foreign bodies. What we are proposing is pertinent to making the sector serious enough to attract investment.
“Study has shown that Kannywood as at today is employing over 2 Million youth involved directly and indirectly. Along the value chain, we have producers, directors, actors/actresses, scriptwriters, marketers, distributors, cameramen, cinema owners, among many others. Re-positioning the industry will be a big value addition to the state economy,” he explained.
He told the Council that his company intends to be the primary promoter in the industry, stating that the state has nothing to do with business, but its role will be limited to being the driver of the process and be the enabler.
Kachill noted that there is a need for an improvement in the entertainment industry generally in the country, adding that makes it possible for the state to benefit from the income yielding activities, particularly in the area of internal revenue drive.
“When the government provides the enabling environment that is when we primary promoters in the industry can effectively play our role of supporting the players in the sector.
“Credent is a limited liability company involved in the business of promoting and driving government interventions that can strengthen the industry and rewarding for all players,” he said.
Commenting after the presentation, Abdullahi Umar Ganduje, Kano State governor, promised that the Council would look into the proposal and come up with a position in line with his administration’s desire to work with the private sector to deepen the state economy.
