QUIPBANK OPENS INDUSTRIAL AREA BRANCH
EQUIPMENT RENTER OPENS INDUSTRIAL AREA BRANCH FOR WAREHOUSING AND MATERIAL HANDLING TO EASE STORAGE AND TRANSPORT WOES
By Mourine Ojambo,
Quipbank Trust Limited through its equipment sharing platform has opened Nairobi Industrial Area branch in line with its expansion strategy announced early last year. The equipment renter said that it will open hubs in each of the 47 counties in the next three years to ease access to machinery and farm implements for farmers and SMEs. Last year the renter managed to open five (5) branches in the country despite Covid-19 scare and four more other branches in Tanzania and Uganda respectively. The Nairobi Industrial Area outlet adds to its Mombasa, Mlolongo, Kisumu, Narok, Naivasha and Meru branches among others. The firm said in a statement sent to the newsroom that preparations are also underway to have Kisii, Bomet, Machakos, Tatu City and Garissa branches before they move to other counties. The equipment bank also has subsidiaries in Uganda, Rwanda and Tanzania. The new branch located along the Enterprise Road will enhance its presence in Nairobi industrial estate since most of the industries are found within the area. It will cost the firm approximately Kes. 80 million to finalize the first phase of this new branch.
Speaking while visiting their branch located along Enterprise Road, the renter’s Regional Head of Sales & Marketing, Mr. Ivaney Turyasingura said, “This branch will help in supporting small and medium sized factories that are financially constrained due to the effects of Covid 19, to access material handling and warehouse solutions. This branch will fundamentally integrate a wide range of manual, semi-automated and automated equipment and systems that support factories, warehouses and logistics, and make the manufacturing and supply chain work easier and affordable.”
The firm which was recently ranked as the Pacesetter in Equipment rental in SMEs Top Award List organized by Jubilant Stewards of Africa (JSA) in the last year prestigious awards for Top SMEs and also ranked best in construction and infrastructure by KMPG Kenya in their last annual top 100 midsized companies’ awards also offers vehicles and equipment rental and sales options in what the firm has dubbed ‘impact movement and impact storage’.
As per the Market Research Future (MRFR), the global material handling equipment market is expected to register nearly 7.5% CAGR during the assessment period (2019 -2025). The advanced technology, rising numbers of shipment companies and burgeoning e-commerce industry in the Kenya drives the market growth, creating the demand for efficient distribution and sorting applications. In addition, the high penetration of material handling equipment in application areas such as e-commerce, automotive, food & beverages, metal & heavy machinery, and others drives the regional market growth. Enhancing the sector will fosters the growth of the market, increasing numbers of production plants across the region.
Africa’s material handling equipment market is still developing as compared to its other developed markets like America and Europe that holds a substantial share in the global material handling equipment market. The Kenya’s material handling equipment market is expected to increase at a steady growth rate during the review period due to factors such as the augmented demand from the rapidly growing end-use industries which is enhancing the market growth.
“COVID-19 put an enormous amount of pressure on e-commerce, leaving traders in a flash to implement fulfillment capabilities that will meet shifting consumer behaviors and preferences. As we emerge from the pandemic tremors, the import numbers are rising to reflect retailers’ expectations for consumer demand to the point that many factories in East Africa need such Material and Warehousing facilities. We have put in place material handling system and processes to better our customer service, reduce inventory, truncate delivery time, and lessen overall handling expenditures in manufacturing, supply and transportation,” said Mr. Turyasingura Ivaney.
Pundits project that the coming years will appreciate e-commerce which will account for 19.2% of all retail sales by 2024, traders that prioritize delivery and fulfillment operations will experience greater operational efficiencies and provide premium customer experiences.
Editor’s notes
For further details and updates, please contact;
Jared Oundo,
Head of Corporate Affairs and Communications
VAELL GROUP/ QUIPBANK TRUST,
Email: jared.oundo@vaell.com ,
Cell: +254 719408244/ +254 780408244
ABOUT QUIPBANK TRUST LIMITED
Quipbank Trust Limited is an equipment bank which offers vehicles and equipment rental and sales options. It specializes in mining and construction equipment, agricultural equipment, automotive, trucks and trailers. It provides unique and creative solutions that meet clients’ expectations not only by realizing the business objectives but particularly by strict adherence to the ethical principles of equipment exchange.
Quipbank, the E. Africa’s largest equipment sharing platform, has partnered with leasing companies across the region to dispose and rent surplus good quality used equipment. It has also partnered with local and regional banks to rent equipment of distressed firms to enable debt mitigation. It stocks assets from leading brands to offer efficient output and reduce the cost of construction and development of Africa. Quipbank is best poised to provide the highest quality rental machines and offering exceptional maintenance services towards customer satisfaction. It has entered into agreements with international firms such as Austria’s RM Group, Faspol from Poland, Achelis, SREI from India, Atlas Copco from Sweden and South Africa’s Hydraform to display and sell equipment on their behalf.
