After seven years of absence in Kenya, Porsche has finally made its comeback as it tries to benefit from the expanding economy in the region. To stage that return, Porsche has set up a new franchise in the country, working with local partner, Multiple Group, to sell its offerings in the region.
According to Steffen Fleck, network development director for Porsche Middle East and Africa, the sports car maker conducted an analysis and found out that Kenya's micro-finance indices indicate an economy that will surge 5 percent this year.
Fleck said that analysis prompted Porsche to set up a base in Kenya. The African Development Bank expects Kenya’s economy to gain 6 percent this year, further boosting the expansion it has made in the past two decades.
Porsche already has offices in Algeria, Angola, Ghana, Egypt, Mauritius, Morocco, Nigeria, Reunion, South Africa and Tunisia. An expansion in Kenya is part of the company’s goal to top annual global sales of 200,000 cars and SUVs by 2018. Analysts, however, expects Porsche to reach that goal as early as this year.