This archive report was first published on 23 October 2019.
On October 23, 2019, Pan African Equipment Group (PEG) marked a significant milestone in its expansion plans with the opening of a new facility in Nairobi, Kenya. The Sh500 million investment is set to host the company's East African operations, underscoring its commitment to the region.
PEG Chairman Charles Field-Marsham emphasized the company's dedication to investing in Kenya and the region, despite current market challenges. "Although there are current market challenges proving headwinds against many of the sectors, if managed correctly Kenya has the potential to continue supporting our business," he said.
Field-Marsham noted that the challenges faced by Kenya are not unique, citing Ghana and Tanzania as other countries struggling with similar issues. He expressed confidence in the region's potential for growth, driven by the nascent extractive industry, power, and construction sectors.
PEG Chief Executive Scott McCaw highlighted the company's optimism about the region's prospects, particularly in the extractive industry and power sectors. "With Kenya and East Africa focusing on increasing its power supply and its extractive market, we believe it will certainly drive the mid to long-term objectives of our business," he said.
Founded in 1997, PEG has grown to serve over eight markets in Africa, with full distributorship functions in six countries. The company employs over 400 people in Africa, with more than 100 based in Kenya. General Manager Greg Jackson emphasized the importance of staff and customer capacity development in ensuring the sustainability of the business.
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