Crown Paints to invest Sh225m in Rwanda
HOME & AWAY
By H&A correspondent | February 12th 2015
Kenya: Paint manufacturer Crown Paints has announced its entry into Rwanda with the establishment of an ultra-modern paint showroom in Kigali with a five-year plan to invest about $2.5 million (Sh225 million).
Rwanda is the third country to host Crown Paints’ showrooms in East Africa as the paint maker also owns five in Kenya and one in Tanzania. According to Crown Paints Group CEO Rakesh Rao, the company also plans to establish a paint factory in Rwanda.
“We aim to acquire more customers and equip them with knowledge on our paints portfolio. There is a boom in the construction sector in Rwanda and consumer tastes are changing fast, with more people using texture and stone finishes,” said Rao.
Crown Paints opened a depot in Kigali six months ago.
According to Rao, Rwandan market is the next frontier for its growth in the coming years: “With the rise in construction, Rwanda market offers a great opportunity for Crown Paints. We have gained a great level of stability in a short period. The market offers a lot of opportunity for quality paints.”
The showroom will also serve customers from the Democratic Republic of Congo and Burundi.
The firm has been in an expansion overdrive. Last year, Crown Paints announced its entry into the Tanzanian paint industry.
The group, then, said it intended to invest $3.6 million (about Sh316m) in 18 months to build a market leading company. Crown Paints also opened a paint showroom located in Dar-es-Salaam at this time.
The company announced that Dar-es-Salaam will become the headquarters of Crown Paints Tanzania, enabling the company to expand into other provinces in the country.
Last year also saw the group open showrooms and depots in various towns in Kenya.
Its latest foray into Rwanda dovetails with the firm’s ambitious growth plan.
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