Little, a Kenyan technology startup run by tech entrepreneur Kamal Budhabatti, has unveiled plans to construct a $717.4-million ($6-million) office complex in Nairobi, Kenya’s capital city, as it strives to expand its reach and talent pool through selective recruitment.
“We want to have a big building for Little. This place is becoming congested, and we are getting another 20 to 30 people in the course of September, and there is not enough space,” Budhabhatti, CEO of Little and founder of Craft Silicon, Little’s parent company, said while announcing the plan.
The new office building, which will begin construction next year and play an important role in Little’s strategic expansion efforts, will serve to maintain the firm’s culture as a conducive work environment, while simultaneously driving the growth and extension of its service offerings.
Budhabhatti said the building’s estimated construction cost of $6 million will be financed internally through commercial mortgage loans.
“The plan is to have Little build and have its own identity. We don’t want to always rely on Craft. They are different companies. We plan to finance it internally, and the way we will do it is we may take a mortgage and pay it back,” he said.
Budhabatti, who co-founded Little in 2016 with telecom giant Safaricom, has been instrumental in the company’s recent expansion to Uganda, Tanzania, Zambia, and Ethiopia, as well as the commencement of its operations in West African countries such as Ghana and Senegal.
Under his leadership, Little has embarked on a number of strategic development plans. The most recent is the proposed construction of a $6-million office facility. Recently, the company also announced plans to sell up to 25 percent of its shares over the next three years.
The estimated net proceeds of Ksh2 billion ($17 million) from the planned stock sale will be used to support the expansion of the company’s infrastructure and talent pool through retention and strategic recruitment, while growing its presence in the region.
