South African firm to raise $2bn to refurbish TBS
A Nigerian consulting firm based in South Africa, Charles Emmanuel Emmanuel David (CEED), said on Saturday that it was raising $2 billion for the redevelopment of the Tafawa Balewa Square (TBS) in Lagos to make it a tourist spot.
Dr Emmanuel Imevbore, the Group Chief Executive Officer of the firm, disclosed this to the News Agency of Nigeria (NAN) in Johannesburg, South Africa.
He said following the concessioning of TBS, the private firm managing it, BHS International, had engaged his firm to provide funds and project management services for the redevelopment initiative.
He said 75 per cent of the technical skills would come from South Africa while the firm would raise funds to finance the project.
' The redevelopment of the Tafawa Balewa Square will involve the establishment of a modern mall, five-storey building, multi story car park and four-star hotel.
' It will also have a convention and event centre while the car park will be expanded,' he said.
Imevbore said the new TBS would have a modern medical centre to make it a tourist spot.
Engineering and construction companies from South Africa, he added, would be involved in the initiative.
He also said the redevelopment of TBS would create jobs for Nigerian youths and also provide opportunities to acquire new skills in construction.
The aim, he said, was to make TBS a new tourism destination in Africa because of the modern facilities it would have.