From Capital FM
A Mauritius-based consumer finance company Africa Finance Business (afb) has opened a new office in Nairobi in a Sh250 million capital investment.
This development brings the number of afb’s offices across Africa to four, with other offices operational in Lusaka, Accra and Cape Town.
Speaking in Nairobi, afb’s Chief Executive Officer Karl Westvig said: “Nairobi’s reputation as an African commerce, trade and development hub made it a strategically sound location for afb. We believe it is a natural recognition of Kenya’s role as the financial heart of the East Africa region.”
Westvig said the Kenyan operation would also be a launch pad for further expansion across the East African region as the company embarks on its quest to shift consumers from traditional cash payments to non-cash payment systems through partnership with key retail outlets.
“We have been eyeing the Kenyan market for a long time after our research indicated that Kenya is one of the countries in Africa with well-developed financial and retail infrastructures. We want to use this opportunity to make gateways into the wider East African region that has a lot of promise in terms of returns on investment,” he added.
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