Captains of industry predict good year

By Correspondent

Buoyed by the country's economic prospects and performance in the past year, a cross section of local captains of industry are now bracing for a very good 2011 ahead.

All indications in various leading local companies across diverse sectors seem to suggest that this year will be marked by steady business growth, with some of the business leaders focusing their sights on regional expansion programmes.

However, all the business leaders interviewed remain concerned that political developments may serve to blight an otherwise bright year.

The private sector players cited consultations with the Government as key wish in the New Year.

Housing Finance (HF) Managing Director Frank Ireri is upbeat that 2011 will be yet another success year for the mortgage firm.

Ireri reckons that the two principals — President Kibaki and Prime Minister Raila Odinga — may further help to spur economic growth reach a double-digit by strictly sticking to constitution implementation processes.

Constitution promises

"I am still positive about the economic forecast for 2011 and also predict another strong year for HF. We, however, hope that the two principals will keep to the constitution promises and entrench laws that will bolster business growth," said Ireri.

On the retail market front, Nakumatt Holdings Managing Director Atul Shah is also forecasting a very good year.

Having closed last year with a total of 32 branches across Kenya, Uganda and Rwanda, Shah is projecting steady growth for the local retail sector. Shah confirmed that Nakumatt Holdings will this year concentrate more on ensuring more innovative and creative world class service delivery for its growing customer base.

And with the expected growth at the Nairobi Stock Exchange, Custody and Registrars Limited General Manager Kerry-Ann Makatiani is also forecasting a busy year, as listed companies resort to value added registrar services.

"We are upbeat at the growth prospects that this year presents and for which we are now ready to embrace," said Makatiani.

Simba Colt Motors Group General Manager Dinesh Kotecha is upbeat that 2011 will be a very good year going by the performance of the motor company last year.

Kotecha reckons that the Mitsubishi vehicles dealer will also be hoping to enjoy expected fortunes from the proposed government-leasing programme alongside its normal business.

East African Cables Chief Executive Officer George Mwangi is also forecasting a brighter year.

Having spent the past two years strategically setting the base for the firm’s growth by integrating new production facilities and developing new product lines, Mwangi is optimistic that the cable firm will be closing this year on a positive note.

Mwangi is however concerned over the volatility of the world metal prices and the challenge posed by China’s high consumption of world copper for its domestic economy. Mwangi, however, asserts that EA Cables has laid out elaborate commercial plans to serve the regional market.

"We shall be commissioning a new production line and launching new products that will further contribute to our growth forecasts."

Seven Seas Technologies Managing Director Michael Macharia is also upbeat at the prospects of a very bright 2011 given the growing demand for cutting edge information technology. He contends that besides the private sector, the Government and its related agencies will now begin adopting IT solutions to raise their service delivery capacities.

British American Group Managing Director Benson Wairegi said the firm is upbeat at the prospect of bettering its business with strong projections across its insurance and asset management business lines.

"We expect better growth in 2011 for both our insurance and asset business than in 2010," Wairegi explained. But he is quick to add that: "However we are cognisant of risks that could affect overall growth. Some of the business factors to look out for are global financial crisis in a number of European nations that could impact on investment in the stock market, anticipated drought, rising interest rates and political risks."