Mubasher: Nikai Group of Companies on Sunday unveiled plans to expand its presence to Egypt, Iraq, Azerbaijan, and Congo on the back of robust economic growth and rising consumer demand.
The expansion “will further build on the organisation’s consistent success and add to the capabilities of the existing four regional hubs,” the diversified business group said in a statement.
Egypt’s office will be opened during the third quarter of 2019 to be followed by other countries in the second half of this year.
This step aims to “build upon [Nikai’s] current trade partnerships, explore further opportunities, and continually position Nikai as a favoured electronic brand amongst consumers,” the group’s chairman, Paras Shahdadpuri, said.
Nikai plans to double its local presence through this expansion plan after its successful operation for two decades across GCC countries.
“The change in custom laws in few of these markets, and with local government giving higher impetus to investors to set up operations in the region has encouraged the group to expand further,” Shahdadpuri indicated.
With high potential for growth in the next period, the four markets are expected to account for 15-20% of Nikai’s revenues during the coming three years, he added.
