Global firms setting up offices in Nairobi

28/04/2011 - Kenya property & investment news
Global firms setting up offices in Nairobi

A number of leading global conglomerates have opened regional head offices, retail outlets and manufacturing plants in Nairobi, Kenya.The move has raised Kenya's status as the commercial hub for the wider East and Central Africa, businessdailyafrica.com reports.Kenya's capital has profited from regional integration efforts and the country's outward looking policies.Global Visa International and Panasonic are the latest multinationals to reveal plans to base their launching pads to the wider sub-Saharan Africa through Nairobi."Panasonic will this year concentrate on Africa, with the company looking to establish regional offices in Kenya and Angola by the end of the year," commented Seiji Koyanagi, managing director of Panasonic Marketing Middle East.The likes of Nokia Siemens Networks, Airtel, Nestle, and PepsiCo have picked Nairobi as their centre of operations in the continent.Multinationals are seeking physical presence and local intelligence in markets where they previously relied on correspondents."The West has high appetite for the African market and where else is better to enter it than Kenya? Kenya has the necessary pool of talent, sufficient democratic space and is strategically located," commented James Muratha, regional director at Stanbic Investments Ltd.