BY MACHARIA KAMAU
British publishing house, Macmillan UK, has sold off its Kenyan arm Macmillan Kenya, to the local management.
David Muita, who has been managing director at the publisher for 20 years, bought of the entire stake previously held by Macmillan UK for Sh200 million.
Prior to the transaction, the publishing house was 92 per cent-owned by Macmillan UK, while Muita had a five per cent stake and the remaining three per cent held by former Vice President Moody Awori.
Under the new ownership structure, Muita stake will stand at 97 per cent, while Awori retains his three per cent.
NEW CORPORATE NAME
Muita said the firm, which will now trade as Moran Publishers, would increasingly focus on information and communication technology through increasing its online presence as well as publishing e-books to boost its traditional line of printed books. The firm will also look at expansion to the region.
"Our publication of e-books is a bit weak, but we plan to strengthen this sub-sector so that we can be in line with vision 2030," he said. He added that boosting its e-publishing side would enable the firm interact with a huge segment of its target market on a platform that they have increasingly taken up. Most of the publisher’s works are centred on education.
"We will rejuvenate the publishing industry through upping quality of education materials being published, as well as fishing for new talent… you note that Kenya has somewhat stagnated in terms of strong talent since the likes of Ngugi Wa Thiong’o came into the scene."
Muita is also eyeing the region, which he said has enormous opportunity for both educational and popular reading materials. The other four East African Community states —
Southern Sudan and Ethiopia are the markets that the company has immediate plans to venture into.
"There is opportunity in the re-gion but could not venture into other markets under Macmillan because the firm had subsidiaries in the neighbouring countries," he said.
DISPOSALPOLICY
Macmillan UK recently adopted a policy to dispose off some of its subsidiaries on the continent mostly to local people who have worked for the company for many years. "We are pleased to complete this sale to local management, as a means of taking forward our strategy of empowering strong and locally-directed educational publishing businesses in Africa," Annette Thomas Chief Executive of Macmillan commented on the sale of the Kenyan arm.
"The Kenyan market will provide great opportunities for the local team and we will observe the progress of Moran Publishers with great interest." "After well over 40 years of distinguished educational publishing for Kenyan schools, the company is well placed to move forward under the direction of its local management," said Muita.
"The move flows from Macmillan’s international policy of developing local capacity, through training and hands on experience, which has produced some of the most skilled publishing executives, not just in Kenya but also across Africa and beyond." The company is the market-leader for atlases, revision and workbooks, wall maps and charts, dictionaries, readers and top quality curriculum support materials for all levels.
