Indian tech firm Daikin India Air Conditioning limited is looking to enter the Kenyan market with its energy-efficient line of air-cons.
The company, set to launch its line of products next month, is looking to capitalise on the affordable housing pillar under the Big Four Agenda.
“We intend to make our products available and accessible to customers for both residential and commercial applications. This is because our global proposition is to make premium yet affordable products,” Daikin's vice president for exports Manoj Agarwal said.
He added that the firm’s entry into the Kenyan market offers an opportunity for partnerships that would see thousands of jobs and wealth created for those who would tap the opportunities along the value chain.
The firm has already recruited some partners and is optimistic about recruiting more in the coming months, riding on value propositions, business sense, and unique offering.
Daikin products have been informally sold in Kenya over the last couple of months as the firm tried to zero down on local consumers' tastes and preferences.
The company intends to make the line of products available first in major towns including Nairobi, Mombasa, Kisumu before expanding to other regions in the country.
Agarwal said Daikin’s choice of Kenya as a gateway into East and Central Africa was informed by a growing middle class, rapid and sustained economic growth in recent years as well as a huge population of the spending class.
“Thirty-four per cent of the population [in Kenya] is between the age of 25 and 54, most of who have disposable income and are decision-makers either at their homes or businesses, which Daikin is targeting our products,” he said.
The firm is also looking to capitalise on increased consciousness on energy conservation, among Kenyans, with more people inclining towards energy-efficient products. Agarwal says this is likely to largely boost sales.
“Currently, manufacturers of electronics are required to rate the energy consumption of products being sold in the market to enable buyers make the right decision,” he said.
