Kenyan tech firm to pour millions into Ethiopia

by yeEthiopiaforums

This year is being dubbed as the year technology really takes off in Kenya and one major firm is coming to Ethiopia. “No other service sector is more upbeat at the prospects ahead than their peers in the IT field in Kenya,” Michael Macharia, founder and Chief Executive Officer (CEO) of Seven Seas Technologies said last Wednesday during a conference they organized to promote their company and gain new customers in Ethiopia.
“We want to come to invest in the Ethiopian market . . . and help customers maximize their investment in new technology. [We want them] to look at business in new ways that focus on efficiency, utilizing resources and reducing costs,” he added.
Seven Seas Technologies has been expanding in Africa into countries like Burundi Nigeria and Zimbabwe.
Mr Macharia told Capital that in the next two and half years they want to be an African organization.

“We need to go to the African market. A number of global IT companies have established their presence in the Kenyan market. We welcome them. If we partner with the global giants strategically it will enable the local business to expand and inject more cash flow to the local economy so we want to see the African market expand and East Africa is just the beginning,” the manager said.
“Ethiopia is next door, has a big market and a pool of skilled labor.  We have seen the leverage that Ethiopia has in the region and that the government is investing.
Telecommunication is growing rapidly and the private sector must respond and invest,” he added.
In the coming fiscal year Seven Seas is planning to pour over a million dollars in the IT sector in Ethiopia.
“Today we are here to explore the condition. Who knows maybe someday will be on the Ethiopian stock market. With over 80 million people there is potential for significant investment in IT projects. Our experience that has fueled rapid and agile economic growth at home and we will help duplicate similar kinds of growth and fast development in the IT sector in Ethiopia,” he commented.

Source: CapitalEthiopia

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