BrazilMcKinsey & Company opens an office in Kenya, 7th in Africa
Expanding its African presence even further, strategy firm McKinsey & Company have opened their 7th office on the continent, this time in the Kenyan capital of Nairobi. Globally, this is the firm’s 107th office.
As the financial sector on the African continent has picked up momentum in tandem with economic growth in the region, a number of consulting firms have begun to expand their operations in Africa, the latest being McKinsey & Company with their new office in Nairobi.
A number of factors have contributed to the opening of the Nairobi presence. The first is that the firm has been prolific in Kenya recently, having aided with the reorganisation of a number of major companies including East African Breweries, Kenya Commercial Bank, Britam and a number of others. A local operation would ease the firms practice in the country, which is clearly gaining momentum.
Moreover, Nairobi’s status as an economic nucleus in East Africa will give the firm a boost In the eastern region, complementing its 6 other offices across the continent. The decision was a considered one, after a comprehensive internal assessment of potential locations. Another key factor is the fact that, as the capital of a developing economy, Nairobi still has a long way to go in terms of infrastructural development and energy efficiency, both of which sectors spell major opportunities for the consulting industry.
Commenting on the new office, Bill Russo, Managing Partner at McKinsey for East Africa said “There is $100 billion in infrastructure investment in the region. We all know the correlation between economic growth and infrastructure investment is a strong one. The second thing is if you look at energy, we estimate that there are 290 gigawatts of energy potential in East Africa. Today there’s only an install base of seven gigawatts.”
Establishing contact
To consolidate the new chapter for the firm, Managing Director at McKinsey Dominic Barton visited the Kenyan President, Uhuru Kenyatta in Mombasa. Barton gave the company a brief on McKinsey’s intentions in the country, and its potential contribution to overall economic growth.
