We are delighted to announce that Gerardo Segura, CEO at Storage Central, will be speaking at AFSIC - Investing in Africa, 7-9th October 2024. Company Overview: Storage Central Holdings (“Storage Central” or “SCH”) (https://lnkd.in/ei9RZ5W5) is the leading self-storage company in Kenya. We offer storage, mini-logistics, last-mile delivery and co-working services to meet the needs of small businesses, households and impact organizations in Kenya, at secure, modern and strategically located facilities. The founders developed the first self-storage chain in Argentina (Mas Espacio SA, www.masespacio.com.ar) and have extensive business development and management experience.
Storage Central identified a significant need for improved and secure storage services within Nairobi. Our first facility in Nairobi, a five-story building on the Mombasa Road, opened in October 2020 and has served over 1,600 customers to date.
the company’s key performance highlights:
Occupancy: 84%
Capacity: 6,100m2
Average Growth: Average 53 move-ins/month
Customer base growing at 6.5% per month
Revenues: Last 12m: $953k 53% growth versus 2022
Customer base: 60% residential, 40% business, 85% Kenyan
Expansion strategy
Storage Central aims to become a $200 million company by developing 10-12 storage facilities company within 6 years in key target markets, including: Dar es Salaam, Kampala, Kigali, Mauritius, Lagos and Abuja.
Our immediate priority is to achieve a commanding position in Nairobi by developing two new sites in 2024/25. The three Nairobi facilities, totaling 21,000m2 will be expected to generate annual revenues of $3.5 million and net income of 2.0m2 within 24 months of operations.
Investment opportunity
Storage Central is seeking to initially raise $10 million to develop two additional sites.
To date, Storage Central has raised $2.1 million of equity and debt funding from individual and institutional investors. These funds have been applied to the incorporation of the company; the hiring and development of a management team; and the development of the first facility.
Register NOW to attend AFSIC – Africa’s Investment Event, 7-9th October 2024. London
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