InnoVent Opens Office in Nairobi as East Africa Readies itself for Post-COVID Growth

InnoVent has opened an office in Nairobi to service the growing East African market. InnoVent offers a range of IT financial and leasing solutions to help CIOs and CFOs adopt an integrated, life cycle approach to IT procurement.

“In 2019 alone, The African Development Bank Forecasts* revealed that economic growth in East Africa was soaring ahead of other regions (North, West, Central and Southern Africa) on the continent. At that time, East Africa posted the strongest GDP growth, which was estimated at 5.7 percent in 2018, followed by North Africa at 4.9 percent, West Africa at 3.3 percent, Central Africa at 2.2 percent, and Southern Africa at 1.2 percent.

Obviously, COVID-19 has affected this growth, but the region is expected to recover strongly, says Zakhe Khuzwayo, CFO, InnoVent. “The pandemic has taught us that IT is the essential success lever for a volatile world and, in line with global trends, East African CIO’s will be adopting an integrated procurement strategy that includes leasing and the use of high-quality refurbished equipment to maximise value while reducing support costs.”

Globally, Gartner predicts that IT spend will grow by 4% in 2021 but off a low base as 2020 saw a 7.3% decline. This is at a time when CIOs will be under immense pressure to speed up digital transformation projects such as moving to the cloud and its associated technologies including artificial intelligence (AI), the Internet of Things (IoT), and machine learning. The move to online learning is also driving these trends along with the need to apply the  tactical measures required to deal with cyber-security threats. Moreover, InnoVent’s asset tracking solution, V-Track™, is a powerful value-added feature as it enables the detection of outdated hardware; operating systems and software – often regarded as the entry point for malware and hacks. This adds significant cyber-security capabilities to the offering.

“As organisations embark on journeys of digital transformation, CIOs will be under sustained pressure to ensure that IT assets including end-user devices, are aligned with the business case and well supported. CIOs of leading organisations are increasingly turning to leasing as a way to cover the life cycle of IT equipment and take on predictable operational expenses (which include support) rather than capital costs – and they are also becoming more accepting of the role that professionally refurbished devices can play in such an approach,’ Khuzwayo says.

“We believe that Kenyan CIOs and CFOs will quickly see the value in our approach. The country’s stable banking system will also provide the necessary framework for leasing to become a key component of an IT-enabled growth strategy. Partnering with OEM’s will further enhance the value proposition.”