Economy
KMC-Kayi Microfinance Bank Opens Headquarters In Kano
KMC-Kayi Microfinance Bank Opens Headquarters In Kano
By Admin October 6, Oct 6, 2023
The chairman of Kano-based Kayi Microfinance Bank, Alhaji Sa’adina Dantata, has said the bank’s newly launched mobile banking application, Kayi App, will revolutionize banking in the state and beyond.
Dantata stated this at the launch of the bank’s headquarters in Kano, on Thursday.
Nigerian courier reports that the App, which the bank described as a “super app”, is the first of its kind in the state, which is the commercial hub of Northern Nigeria.
Sa’adina Dantata said he decided to invest in the bank to give small-scale business owners a chance to key into the modern banking system.
According to him, the services of the app would give small-scale enterprises the ability to make transactions without physical currency.
“We want to see a change where a commercial tricycle operator would receive fare from passengers via this app without using physical cash.
“We want to see a woman frying akara or yam at the roadside, making transactions without app. The developers have tried to make it super user-friendly,” he said.
Dantata further stated that the bank had provided employment opportunities to teeming youth, not only in Kano, but the entire Northern region.
He further said the bank had so far employed one person from each ward in four states of Northern Nigeria, adding that plans are underway to expand the employment to cover Nigeria and expand across Africa.
The app contains packages targeting diaspora and cross-border payment, the Product Lead of KMC Microfinance Bank, Abdulganiyyu Rufai, has said.
He said that is “why we have a multiple currency swap within the single app. We did not even stop at that, we also have a digital currency still on the same app.”
Mr Rufai said the app was developed with user-friendly features that would ease transactions for customers, adding that it was built on futuristic technology.
He said the aim of the app was to give millions of small and medium business operators a chance to access digital banking without technical difficulty.
The app, he said, was built on Internet 2.5 which is above the commonly used Internet services.
“As you can see, first of all we have a physical branch where people can go and engage in a traditional mode of banking and then we have a customer support center here.
“Of course, for those who are willing to maintain the status quo, however, we come up with a cutting-edge technology that will support urban professionals and all other people willing to serve people. What we have is not just another app it is a super app nice and quite different from what is obtainable within Nigeria., it is an app that is built on futuristic technology,” the bank official said.
The official said the bank is targeting the “unbanked and under-banked populace of Nigeria. That is why the technology can be operated even in hard-reached communities.”
Launching the APP, the Emir of Kano Alhaji Aminu Ado Bayero lauded the owners of the outfit, adding that the device would enhance the growth and development of the economy of Kano State in particular and Nigeria in general.
He said Kano being the nation’s centre of commerce deserved more of such facilities as the KMC-KAYI APP that would support small businesses and other services.
He said the APP would help in overcoming the current financial inclusion challenges in society by creating viable channels “through which the unbanked could be financially engaged.”
He implored members of the Kano business community to seize the opportunity and patronize the APP in their business and trading undertakings.
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The Nigeria Export Promotion Council (NEPC) says it is committed to building the capacity of Small and Medium Enterprises (SMEs) and Micro, Small and Medium Enterprises (MSMEs) to make them export-ready.
Hajiya Amina Abdulmalik, North West Regional Coordinator NEPC, stated this on Thursday in Kano at the Export Competency Development Workshop for SMEs and MSMEs.
She said the workshop was designed to prepare exporters with the knowledge and skills required to take their produce beyond the shores of Nigeria.
“The essence of organizing this workshop is to prepare our exporters, build their capacity, and make them ready to export. By the end of this workshop, I want to see more than half of the participants export-ready,” Abdulmalik said.
She explained that once exporters are able to formally export their products, Nigeria’s trade volume would increase, thereby contributing positively to the nation’s Gross Domestic Product (GDP).
According to her, support for exporters depends on the type of product being exported, stressing that working in clusters makes retention and assistance easier.
“A common center, perhaps with machinery, can help them process their products. It is not feasible to provide individual support, except through the Export Expansion Grant (EEG),” she said.
She added that exporters must formally export their products, repatriate proceeds, and maintain proper accounts to benefit from the EEG, which serves as a financial incentive.
Abdulmalik noted that NEPC had also provided certificates such as the Mandatory Development Certificate (MDE) and the Hazard Analysis and Critical Control Point (HACCP) certificate to participants, especially women.
“These certificates are essential for exporting to Europe and the United States. Without them, individuals would face significant costs, but through our support, many have been able to obtain them,” she said.
Earlier, Alhaji Nura Habib, Vice President of KACCIMA, said this at the Export Competency Development Workshop in Kano, describing the programme as an opportunity to reposition enterprises and compete beyond Nigeria’s borders.
He noted that access to markets begins with access to knowledge, stressing that the workshop would provide insights into procedures, standards, documentation and international expectations.
Habib commended the Nigerian Export Promotion Council (NEPC) for its dedication to promoting non-oil exports and pledged KACCIMA’s support in expanding Nigeria’s export base.
Speaking also, the Director-General of KACCIMA, Alhaji Tijani Abdullahi, said the workshop was designed to enlighten entrepreneurs on formal export processes and regulations.
“We organized this workshop to guide them on the procedures and rules required for effective export business,” he said, adding that many agribusiness operators in Kano were now conducting exports properly.
Sarki explained that KACCIMA provides information on goods required for export, registration processes and compliance with rules and regulations, noting that the initiative had already yielded positive results.
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The Executive Chairman, Kano State Internal Revenue Service (KIRS), Dr Zaid Abubakar, says the consolidation of Area Tax Offices from 28 to 12 Revenue Service Centres was a strategic move to improve efficiency and oversight.
Abubakar disclosed this at the KIRS Annual Dinner and Awards Night in Kano, noting that the reform was complemented by the recruitment of over 100 new staff to sustain the Service’s transformation agenda.
He explained that the restructuring was part of broader measures that had boosted Internally Generated Revenue (IGR) from N74 billion in 2024 to N102 billion in 2025.
According to him, the Service had also introduced reforms in motor vehicle administration, including faster turnaround for number plate issuance, improved server uptime and deployment of mobile enforcement equipment.
On future plans, Abubakar announced the introduction of an Annual Development Levy of N2,000, with 50 per cent of collections retained at the community level to support grassroots development.
He added that permanent, state-of-the-art Area Offices would be established across the state to replace rented facilities, while integration with the Nigeria Revenue Service would enhance intelligence and data-driven decision-making.
The chairman said the Service was targeting N200 billion in IGR once full institutional autonomy was achieved, commending staff for their dedication and urging them to remain focused.
Speaking also, the Commissioner for Budget and Planning, Alhaji Musa Shanono, commended KIRS for its outstanding performance, describing the achievements as a testament to the agency’s professionalism in enhancing revenue generation.
Shanono lauded Governor Abba Kabir Yusuf for his proactive development strides, highlighting his administration’s commitment to infrastructural expansion, social welfare programmes and economic empowerment initiatives.
Earlier, the Executive Director, Human Resource Services, Hajiya Fatima Ahmad, congratulated the awardees and expressed confidence that the recognition would inspire them to pursue the ambition of N200 billion in IGR.
The News Agency of Nigeria (NAN) reports that the event also featured award presentations to outstanding staff members in recognition of their exceptional performance.
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Small and Medium Enterprises (SMEs) in Kano have been urged to tap into Nigeria’s capital market as a strategic tool for wealth creation and business expansion.
Alhaji Umaru Kwairanga, Chairman of Nigerian Exchange Group (NGX), made the remarks in Kano on the sidelines of a stakeholders’ meeting themed ‘Unlocking Growth: Harnessing the Capital Market for SME Growth.’”
Kwairanga emphasised that access to capital market instruments could provide SMEs with the funding needed to scale operations and generate sustainable wealth.
The chairman noted that SMEs form the backbone of the Nigerian economy and have the potential to significantly contribute to national economic growth if properly supported.
He added that NGX has designed initiatives to make capital market participation more accessible to businesses across the country.
“Our aim is to engage prospective and listed companies in the NGX, helping them meet the necessary requirements to fully benefit from market opportunities.We want these SMEs to achieve great success, just like Dangote or BUA,” he said.
He highlighted the investment potential in the capital market, citing that last year, companies in the sector, particularly engineering firms, delivered returns exceeding 50 percent.
“Currently, our market has already returned over 30 percent, and we are confident of tripling last year’s performance,” he added.
Kwairanga also cited local success stories such as Jai’s Bank, a non-interest bank listed on the stock exchange. Its shares, initially priced at one unit, have risen to over ten units, illustrating the wealth creation potential of strategic investments.
Stressing the need to engage young people and women, Kwairanga said, “ 70 percent of our population is under 30. If we do not provide these opportunities, we risk producing untapped potential that could become a ‘time bomb’ for the future.” he explained.
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