Storage Central: Scaling Nairobi’s Untapped Self-Storage Market

Storage Central is emerging as a key player in the fast-growing self-storage market in Nairobi, Kenya, as demand rises across both businesses and households.

According to CEO Gerardo Segura, several major trends are driving this growth, including rapid urbanisation, the expansion of the middle class, the rise of small and medium-sized enterprises, and the acceleration of e-commerce. These factors are increasing the need for flexible, secure storage solutions in urban environments.

The self-storage market in Nairobi is currently estimated to be worth between $60 million and $80 million per year and is growing at more than 10 percent annually. Despite this growth, the sector remains largely underdeveloped, creating significant opportunities for investors and operators.

Storage Central is already capturing this demand, adding approximately 63 new customers each month. Half of these customers are businesses or NGOs, while the other half are individuals and households, highlighting the broad appeal of self-storage services in the Kenyan market.

To support its expansion, the company plans to develop three new storage facilities in high-traffic, premium locations across Nairobi by 2026. These sites have already been identified and negotiated, reducing development risk and accelerating time to market.

To finance this growth, Storage Central is raising $18 million, split equally between equity and debt. The company is adopting a conservative financing strategy, with a focus on local currency funding to minimise exposure to foreign exchange volatility.

The business has also developed a scalable operating platform based on international standards, enabling it to expand efficiently across multiple locations and potentially into other African cities.

With strong market fundamentals, proven demand, and a clear expansion roadmap, Storage Central is well-positioned to benefit from the long-term growth of urban economies in Africa and the increasing need for modern storage infrastructure.