Panafrican Equipment Kenya Limited has announced a Ksh500 million investment eyeing extractive industries such as mining, agriculture, power, and energy markets.
The investment comprises a new one-stop-shop office complex housing spare part warehouse, hose making shop, training facility, and customer reception area.
Panafrican Equipment is the local distributor for Komatsu, Wirtgen Group, and AGCO machinery in Kenya and offers after-sale support solutions.
According to the Kenya National Bureau of Statistics (KNBS), the agricultural sector was vibrant in 2018 portraying accelerated growth of 6.4 per cent while the total value of minerals increased by 9.4 per cent to Ksh30.4 billion.
Therefore, unlocking the potential of the mineral and petroleum gas sectors relies on the government’s strategic decisions to create long-term value.
Pan African has offices in Rwanda, Burundi, Uganda, Nigeria, Sierra Leone, Ghana, and Tanzania.
Training
Beyond offering equipment, Panafrican hopes to use the new training facility for in-house technicians and for customers.
In this case, Panafrican has been investing Ksh75 million annually in training and development with more than 20 domestic companies and government institutions benefitting from the training
Furthermore, the firm is pursuing product diversification by seeking agreements with lenders to offer asset financing to SMEs and counties. According to Greg Johnson, General Manager Panafrican, the firm is already working with Laikipia County where they have leased equipment to expand devolution projects.
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