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VisionPlus Kenya sets Sh125M Smart tv manufacturing plant

VisionPlus Kenya is set to invest Sh125 million to establish the first local plant for smart TVs and audio systems. This initiative aims to shift from imports to locally designed appliances, targeting a Sh300 billion market.

VisionPlus Kenya, a company that manufactures home appliances and consumer electronics, is in the process of establishing the very first local facility that will produce smart TVs and audio entertainment systems.

The firm has announced that it will invest Kshs 125 million in a new facility to expand its product range, which currently consists of two basic product lines.

This move is the result of the company’s strategy change away from importing and towards producing locally made goods, such as smart TVs, refrigerators, audio systems, wearables, and accessories, with a particular emphasis on underprivileged and developing populations.

Umesh Bhojwani, the Managing Director, noted at today’s announcement that the investment in the facility is the first step of a significant goal to establish a “made in Kenya” home appliance and consumer electronics portfolio, even as it makes early excursions into the East African area. 

” We aim to fulfill the needs of the Kshs 300 billion market, primarily composed of young professionals and families who prioritize quality, style, and convenience in their homes.

“According to the projections of our researchers, the demand for household appliances would increase at a rate of around four percent per year, with the total volume of items supplied in Kenya alone anticipated to increase to twenty-three million units by the year 2029,” he said.

According to Bhojwani’s explanation, population growth, rapid urbanization, a growing middle class, and changing lifestyles among people living in both rural and urban areas will primarily drive this exponential rise.

Bhojwani believes that a growing number of people will be considering the possibility of replacing their antiquated, energy-inefficient models with more contemporary, energy-efficient items.

Alfred K’Ombudo, the Principal Secretary for Trade in the Ministry of Trade and Industry, echoed his remarks and stated that the local home appliance and consumer electronics manufacturing industry stood to benefit tremendously from the recently negotiated trade agreement with the European Union and the one with the United Arab Emirates that is awaiting approval from Parliament for ratification. Both of these trade agreements are currently undergoing the legislative process.

According to K’Ombudo, “These opportunities will provide Kenyan manufacturers with a platform for economic diversification and industrial development through backward integration and a keen drive to innovate for both domestic and international markets.”

Manufacturers in Kenya would stand to benefit from these opportunities.

Despite the fierce competition, he pointed out that Kenya’s attraction originates from its participation in the COMESA, EAC, and ACFTA, which provides it with access to a big market consisting of about 500 million people. This is particularly advantageous for Kenya.

“We will create more job opportunities through the transfer of new skills and technology if we build our local home appliance and consumer electronics value chains,” he added. “We will also create more job opportunities.”

Moreover, the ever-evolving digital environment, characterized by a rising number of people using mobile phones and internet access, is creating opportunities for e-commerce by progressively altering how customers research and purchase home appliances.

This creates a new opportunity for companies in the value chain that offer last-mile delivery services.

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