Kenya-based investment holding firm, Jubilee, is poised to buy a little more than a half-a-dozen new firms in 12 countries in East, Central and West Africa in the present financial year, it said this week.
This shows that the company, in its bigger spreading-out strategy, plans to grow by acquisitions to improve its earnings in the future.
Nizar Juma, the chair at Jubilee, said the firm is already is discussions with three firms in Kenya, East Africa Community and a region outside this community.
“Our intention is to expand our market share in Africa and thus benefit from the untapped potential,” Juma was quoted as saying by Standard Digital.
The company is attracted to firms that have a turnover of between Sh1 billion and Sh2 billion. And companies that are exposed to as many markets as possible and have a wide-ranging financial track record.
“We are not interested in mergers but will grow our business portfolio through acquisition of already existing business. This will give us an upper hand in developing and exploiting opportunities in the being tapped market,” Juma told Standard Digital.