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Copy Cat to consider IPO

by Stuart Wilson, Wednesday 25 May 2016

East African IT company Copy Cat Group will consider listing on the Nairobi Stock Exchange (NSE). Fast-growing Copy Cat continues to expand its operations across the East African region.

Vishal Patel, newly appointed managing director at Copy Cat, said the company board would discuss the potential for listing the company. The proposal to list Copy Cat was first mooted by Joe Mucheru, Kenya’s ICT Cabinet Secretary, during Copy Cat’s 30th anniversary celebrations.

Mucheru stated: “Listing will also allow Copy Cat to discover its worth and its owners to unlock the value of their investment.”

Patel commented: “It’s an interesting proposition. He [Mucheru] actually caught us by surprise. But we will consider it since listing comes with a lot of gains for the company and staff.”

During its 30th anniversary celebration Copy Cat’s founding managing director Nazir Noordin officially handed leadership of the company to Patel.

Noordin said: “East Africa is an exciting place to be as a technology company. The region is quick to embrace technology, with Kenya being a global leader. The contribution of ICT to GDP is growing and we are ready to be part of this growth.”

Copy Cat Group now has operations across East Africa spanning Kenya, Tanzania, Rwanda and Uganda. Noordin recently stated Copy Cat’s ambition is to become a company with sales of US$500m per annum within the next five years.

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