KenCall, a Kenyan call center company, is planning an initial public offering (IPO) on the Nairobi Stock Exchange (NSE) or the London Stock Exchange (LSE) in 2011 to expand its operations in Africa.
KenCall plans to triple sales during the next 18 months, while costs are expected to decline as it switches from satellite connections to cheaper and more reliable fiber-optic cables, Chief Executive Officer Nicholas Nesbitt said today in Nairobi.
“We want to become the pre-dominant player in sub-Saharan Africa and then go global,” Nicholas Nesbitt said. The company aims to generate sales of $10 million this year, Nesbitt said.
Seacom Ltd., a Mauritus-based company, plans to switch on a fiber-optic cable linking Kenya to the rest of the world on July 23. It will be followed by the connection to Kenya of two other undersea cables, the East African Marine System in September and the East African Submarine Cable System (EASSy) by July 2010.
KenCall is building a second office in Nairobi to double its call-handling capacity and plans to open an office in neighboring Rwanda by the end of the year, Nicholas Nesbitt said.
Source(s):
Bloomberg News
