East Africa’s largest publisher Longhorn Kenya Limited has donned a new look to enable it cross-list in the East Africa region. It will now be called Longhorn Publishers Limited.
According to the company MD Musyoki Muli, the change comes at a time when the company is planning a major expansion strategy to capture the entire region, as demand for more books escalates. Listed in Nairobi Securities Exchange (NSE) the firm has already made efforts to list in Tanzania, Uganda, Zambia and Malawi.
“As part of our expansion strategy, we are planning to list in Uganda and Tanzania in the next one and a half years. Longhorn Publishers will invest heavily in those markets by creating new products and increasing capital base in these markets,” said Muli.
The company has set aside Ksh150 million to revamp its subsidiary in Tanzania and Ksh80 million for its Uganda branch. So far it has completed acquisition of two properties in Uganda and Rwanda to localise its presence in the two countries at a cost of Ksh25.3 million and Ksh9.1 million respectively.
“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,” added the MD.