Kenya's Java Coffee House eyes IPO

Kenya's Java Coffee House eyes IPO

Quick service restaurant Java Coffee House said it is working towards getting ready for a potential listing on the Nairobi Securities Exchange should shareholders consider this to be a viable route for the company's future growth.

Actis, a London-based investment firm, has announced that it is going to divest from Java after it acquired the business from the Dubai-based private equity firm, Abraaj Group.

To this, Java was owned by another private equity firm, Emerging Capital Partners.

When the shareholders decide that an IPO is the way to go, we will be ready for it, said Orge Godana, chief financial officer of Java Coffee House.

The restaurant is now aiming to resume aggressive expansion of restaurants after its online and delivery sales moderated to 10.0 percent of total turnover in the year June 2023, down from the above 20.0 percent peak reported at the height of the Covid-19 pandemic in 2021.

Java has 86 restaurants across the country and is expected to open its first store in Meru County in the coming months, on the back of record sales reported in the 12 months ended June 2023.

The management has selected new sites for further expansion across East Africa.