De La Rue Kenya’s local management team this week hosted a visit from key government, business and investment leaders at their site in Nairobi to show how the company’s huge investment over time has made it a global centre of excellence.
The visit was led by Betty Maina, Principal Secretary in charge of industrialization. She was joined by Dr Moses Ikiara, Managing Director of KenInvest; Rachel Muthoga, the Deputy CEO of KEPSA; Andrew Kairu, Senior Banker and Corporate Governance practitioner and also a Non-Executive Director at KCB Bank; John Hamilton, Head of Prosperity at the British High Commission and Aly Khan Satchu from Rich Management.
The delegation members were given an insight into the 25 year track record of investment in De La Rue Kenya, which now totals more than Ksh4.6bn. This was followed by a site tour of the latest investments in expanding the capability of the site. The ongoing Ksh283mn investment is scheduled to be complete in April 2018, and is part of a wider investment of Ksh1.4bn. The delegation also toured the production facility, meeting key members of staff who are responsible for printing currency, cheques, vouchers and cards on site.
Speaking after the event, Dr Moses Ikiara commented: ‘This is a great example of a company that has invested in Kenya since the beginning of the 1990s and is still expanding. It is a demonstration of the confidence investors have on the Kenyan and EAC business environment and is delivering the vision of the President for Kenyan manufacturing excellence’.
Andrew Kairu, Senior Banker and Corporate Governance practitioner and also a Non-Executive Director at KCB Bank added: ‘With the Joint Venture, De La Rue Kenya has become a truly Kenyan company – it is an asset, delivering highly skilled manufacturing jobs for Kenyan people and significant opportunities for growth’
Aly Khan Satchu of Rich Media was struck by the quality of the Kenyan Management Team, and commented: ‘I must say I have yet to meet such an empowered and focussed Kenyan management team’
De la Rue Kenya currently employs 300 local Kenyan staff and contributes Ksh1.25bn to the local economy every year. It has produced Currency, Identity Management and Product Authentication Solutions for Kenya for the last 25 years.
The current infrastructure investment will enable the site to become a regional hub for East Africa and the wider continent and a Global Centre of Excellence for De La Rue.
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About De La Rue:
De La Rue’s purpose is to enable every citizen to participate securely in the global economy. As a trusted partner of governments, central banks and commercial organisations, De La Rue provides products and services that underpin the integrity of trade, personal identity and the movement of goods. As the world’s largest designer and commercial printer of banknotes, De La Rue designs, manufactures and delivers banknotes, banknote substrates and security features to customers in a world where currency will continue to be a key part of the developing payments eco-system.
De La Rue is the only fully integrated supplier of both paper and polymer banknotes, and creates security features that ensure banknotes are protected against counterfeiting. De La Rue is the world’s largest commercial printer of passports, delivering national and international identity tokens and software solutions for governments in a world that is increasingly focused on the importance of a legal and secure identity for every individual. De La Rue also creates and delivers secure product identifiers and ‘track and trace’ software for governments and commercial customers alike to help to tackle the challenge of illicit or counterfeit goods and the collection of revenue and excise duties.
De La Rue is listed on the London Stock Exchange (LON-DLAR).
For further information visit www.delarue.com