Firms
Longhorn enters DRC, units its sights on 20m learners
Wednesday August 10 2022
Longhorn Publishers Group Managing Director Maxwell Wahome. FILE PHOTO | NMG
Longhorn Publishers has expanded to the Democratic Republic of Congo (DRC) in a bid to faucet the nation’s huge market of 20 million learners, and enhance shareholder returns.
The entry into DRC the place it has acquired authorities approval for 9 e book titles comes two years after its profitable entry to Cameroon.
The Nairobi-Securities Alternate-listed agency is on an aggressive growth drive into francophone nations which it considers enormously untapped.
“We’re assured that the entry to DRC will give us entry to a market of over 20 million learners which could have a big impression on bettering our shareholder returns sooner or later,’’ stated Longhorn chief government Maxwell Wahome.
DRC Deputy minister of primary, secondary, and tertiary schooling Aminata Namasia launched the 9 government-approved pupils’ books and their respective trainer guides by Longhorn. The learners and trainer guidebooks developed in French cowl Science Grade 2, 3 & 4, French Grade 3 & 4, and Arithmetic Grade 1,2,3 & 4.
The corporate now embarks on entrenching these books throughout the faculty markets by partnerships with faculties and the DRC Ministry of Training.
Longhorn which already operates comparable to Kenya, Uganda, Tanzania, Rwanda, Zambia, and Malawi, recorded a web revenue of Sh15 million within the 12 months ended December, reversing a web lack of Sh145.3 million a 12 months earlier.
The improved earnings have been pushed by greater gross sales which greater than tripled to Sh960.9 million amid elevated buy of books and different studying supplies. The corporate didn’t say whether or not it’s going to pay a dividend.
Longhorn is among the many 9 corporations that received a Sh2.97 billion tender to produce Grade seven textbooks below the Competence-Based mostly Curriculum (CBC) in Kenya.
The agency will publish French and laptop books which have been listed as optionally available topics below the CBC.
ligadwah[email protected]