, NAIROBI, Kenya, Mar 19 – Longhorn Kenya Limited, the largest publisher in East Africa, has rebranded to Longhorn Publishers Limited to enable it cross-list in the East African region.
The company’s Managing Director, Musyoki Muli, said the change is expected to make the brand regionally acceptable, support its expansion strategy and depict its growth momentum.
The Nairobi Securities Exchange listed firm already has a footprint in Uganda, Tanzania, Rwanda, Zambia and Malawi where it expects to eventually cross-list as part of its expansion strategy.
“The listing is however not in the short term, we are looking at listing in Uganda and Tanzania in the next one and a half years we are planning to invest heavily in those markets by creating new products and increasing capital base in these markets,” he said.
The company is planning to invest Sh150 million in the Tanzania subsidiary and Sh80 million in the Uganda subsidiary by creating new products and diversifying their products in bid to attract investors.
The company has completed the acquisition of two properties in Uganda and Rwanda in bid to localise its presence within the two subsidiaries at a cost of Sh25.3 million and Sh9.1 million respectively.
The properties will also serve as a permanent residence for Longhorn Publishers regional offices.
“The planned cross-listing of the firm in other stock markets in Africa will enhance its liquidity, spread the value realization and give it the ability to raise capital to access other markets within the continent, “he added