Dubai-based Midcom Group is planning a massive expansion in Africa by growing its Mstore consumer electronics brand to more than 2,000 outlets by 2020. It currently operates 300 Mstore outlets.
The diversified conglomerate will expand across Kenya, Tanzania, Uganda, Rwanda, Nigeria, Ghana and Togo.
The expansion will also target new countries, including Chad, Ivory Coast and Senegal. The investment could make Mstore the largest mobile and electronics retailer in Africa.
“The expansion of Mstore is the latest realisation of a growth strategy, which any other international organisation moving into these markets would struggle to replicate,” said Akash Kumar, managing director of Midcom Group.
He said by starting small, with 300 locations, the group used its knowledge of the markets to make it the largest mobile and electronics retailer on the continent.
“The expansion of Mstore will support another of our businesses, FERO, the line of mobile phones we recently launched, by providing full sales and technical support to FERO customers across our markets. This type of on-the-ground support is a service no other mobile operator in Africa is able to offer.”
Midcom Group operates across 17 countries in Africa, the Middle East and Asia in a variety of industries including telecommunications, consumer electronics, dairy, education, commercial and residential real estate and forex.