A local steel and tiles manufacturer is set to open a new Sh1.5 billion factory early next year, creating 100 new direct jobs.
Founder and Chief Executive Officer of Space and Style, Winnie Ngumi, Thursday said this is part of the firm’s plans to cut down on its steel and tiles imports and increase local production to 60 per cent.
The new factory is being funded through bank loans and shareholder equity.
“We are launching the factory early next year as Space and Style positions itself to increase local production and reduce our tiles and steel imports,” Ms Ngumi said on Thursday.
She added that the firm will hire expatriates from South Korea, New Zealand and Egypt to transfer skills and technological knowledge to the local staff who will operate on their own by mid-2020.
“At the onset we will contract expatriates to support the local staff in terms of skill and technology transfer. We expect them to work on their own in 18 months,” Mrs Ngumi added.
Space and Style is also targeting expansion into the East African markets of Uganda, Tanzania and Rwanda.