- Rolls-Royce Holdings PLC is opening its first office in East Africa as engine demand grows.
- The company has seen increased demand for hydroelectric power generation and other engines like ships and locomotives in the region.
Rolls-Royce is working on setting up its first office in East Africa as demand for locomotive, ship, and hydropower generation engines grows. In a conference in Nairobi, Kenya, the UK engineering firm CEO John Kelly said that the region is growing at an adorable 6.5% rate, and with a population of 174 million, it’s becoming more promising by the day.
Rolls-Royce to seek collaboration with Kenya and other East African countries
Business in East Africa is taking shape in an encouraging way as international investors are seeking to set up camp. As a result, Rolls-Royce is seeking similar success in the East African market as it has had in Nigeria. In his speech, CEO John Kelly said:
“It’s important for us to be in Africa, to understand Africa and to make sure that we optimize our solutions and our offerings for the market and its requirements.”
The company is also in talks with Kenya Railways Corporation on a deal to power its locomotives. John Kelly revealed this without giving further details. He added that the company also seeks to focus on naval solutions and electricity requirements for data centers, a market growing immensely in Kenya and possibly valued at around $100M in the next three years.
Kenya already produces 80% of its electricity from renewable sources like Geothermal and wind. It also considers nuclear generation, which Rolls-Royce considers a key component of powering the world.
“We want to be front and center in terms of providing those power solutions, both on the land, in terms of energy requirements, in the air, in terms of aviation,” Kelly said.
Keep watching Fintech Express for more updates on fintech-related developments.