“From studies, the market certainly exists. We are looking at Somalia … we just came back from Nigeria and hopefully in August, we will do our first shipment. Export markets are already up 60 per cent this year,” said Mr Walmsley.
He said that the company expected to open its Burundi subsidiary which will have a retail tyre centre and a depot, on June 15, and that that subsidiary, together with the one in Uganda and Tanzania were expected to contribute at least 20 per cent of revenues. The Burundi subsidiary will be used to re-export to eastern DR Congo while the company was also looking at increasing its export sales to Zambia, Zimbabwe and Ethiopia.
Other export markets were expected to contribute another 20 per cent, bringing the total contribution of the non-Kenya subsidiaries and export markets to 40 per cent.