Samsung to open Kenya assembly plant

Korean electronics giant Samsung is set to open a television, laptop and printers assembly plant in Kenya by end of year and use it as a launch pad to the region.

According to a Business Daily report, the plant is initially expected to employ 900 people directly and more than 1,000 in its supply and marketing chains besides "enhancing the transfer of knowledge".

Samsung already has African plants in South Africa, Sudan and Senegal and recently announced plans to build a facility in Addis Ababa to serve the Ethiopian market.

"Samsung will initially ship in equipment parts or panels and assemble then here but will later move to the next stage of molding the body covers locally," said Robert Ngeru, Samsung's chief operating officer in East Africa.

Samsung is currently negotiating for tax incentives with the Ministry of Trade and Kenya Revenue Authority (KRA) and the amount of money the Korean firm will invest in the venture depends on the incentives offered, Business Daily's report added.

On Friday the electronics giant forecast a 53 percent jump in global profits for the first three months of the year, boosted mainly by growing smartphone sales.

It expects to make an operating profit of 8.7 trillion won ($7.7 billion) for the period, up from 5.7 trillion won a year ago.

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