In a significant move aimed at enhancing its strategic expansion into Francophone Africa, Centum Investment Company PLC (Ticker: CTUM) has announced a partnership with ITM Holdings, a prominent HR firm. This collaboration is expected to bolster Centum’s presence in Kenya’s rapidly growing Business Process Outsourcing (BPO) sector, as outlined in a joint statement from the two companies on Monday.
Expanding Horizons in the BPO Sector
ITM, originally known as International Training & Motivation Ltd, was established in 2017 and specializes in providing HR services as well as ERP and Cloud Solutions. Under the new agreement, ITM will set up operations at Centum’s TRIFIC Special Economic Zone (SEZ) in Nairobi. This partnership is poised to facilitate ITM’s expansion into the Kenyan market while supporting the diverse HR needs of businesses operating within the SEZ.
The relocation of ITM’s HR operations to the TRIFIC SEZ marks a pivotal development for both companies. ITM is expected to leverage its multilingual and multi-sector expertise to provide tailored HR services, thus enhancing the operational capabilities of businesses within the zone. This strategic move not only aims to foster growth for ITM but also underscores Centum’s commitment to boosting the BPO landscape in Kenya.
Leadership Perspectives on the Partnership
Sylva Monga, CEO and founder of ITM Holdings, expressed enthusiasm for the collaboration, stating,
“This partnership represents a strategic milestone for ITM as we continue to consolidate our activities across Africa. It will not only strengthen our market position but also create new growth opportunities.”
Monga’s sentiments reflect the potential of this partnership to unlock valuable synergies that can benefit both companies in the competitive BPO sector.
Dr. James Mworia, CEO of Centum Investment Company PLC, echoed this sentiment, saying,
“We are excited about the possibilities this partnership presents, as it aligns with our vision to expand Centum’s presence in Africa while unlocking new opportunities across key sectors.”
His comments highlight Centum’s dedication to not just growth within Kenya but also its ambitions to expand across the continent.
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About Centum Investment Company PLC
Founded in 1967 as the government-owned Industrial and Commercial Development Corporation (ICDC), Centum has evolved into a publicly listed investment company on the Nairobi Securities Exchange (NSE). The company has consistently sought strategic partnerships and investments to drive its growth and diversification strategy across various sectors.
The Future of BPO in Kenya
As the demand for outsourcing services continues to rise in the region, the partnership between Centum and ITM Holdings is poised to position both companies at the forefront of the BPO industry in Kenya. The TRIFIC SEZ is designed to attract local and international businesses looking for a conducive environment for operations, further enhancing the appeal of the Kenyan market as a hub for BPO services.
With the expertise of ITM and the strategic location of Centum’s SEZ, this partnership could serve as a catalyst for innovation and efficiency in the BPO sector, potentially attracting more businesses to the region.
In summary, this collaboration marks a significant step for both Centum Investment Company PLC and ITM Holdings as they join forces to capitalize on the burgeoning BPO market in Kenya, providing quality HR solutions while exploring new growth avenues across Africa.