Bidco Africa, a Kenyan company owned by the wealthy Shah family, plans to invest $200 million in a new plant and acquisitions over the next 5 years in a bid to increase its annual revenues to $1 billion. We will look at joint ventures,” Vimal Shah told Reuters in his office in Thika town, 45 km from the capital of Nairobi, on Thursday. Bidco Africa is the largest manufacturer of edible oils in East and Central Africa, and manufactures detergents, soaps, baking powder and canola, as well as other edible oils. In 1985, Vimal Shah, his father and younger brother started manufacturing soaps and in 2002, they acquired a significant portion of Unilever's edible oil businesses. Vimal Shah and his family were once listed in Forbes’ annual ranking of Africa’s richest people.

Source: Forbes March 04, 2017 15:29 UTC