KENYA – Consumer goods manufacturer Bidco Africa has unveiled a growth plan to increase its local annual turnover from $400 million to $1 billion (Sh103 billion) by 2021.
Revealing the ambitious five-year plan, group chairman Vimal Shah said the target shall be achieved through an ongoing massive expansion.
He said the company will set up new factories at its modern industrial park in Ruiru.
The park shall host 10 factories which shall manufacture some of the company’s known brands, new food and beverages production line and other personal hygiene products.
The new products are expected to hit local markets by end of this year.
“We are entering a high growth phase with the construction of the industrial park in Ruiru. The facility will house 10 new factories four of which will be commissioned by the end of the year in the first phase representing an initial investment of 50 million US dollars,” revealed Mr Vimal in Thika during the launch of the group’s code of ethics.
“The second phase will see the remaining six factories set up in a period of four years at an additional investment of sh 150 US dollars,” added Mr Vimal.
The company is currently in the process of transitioning its management from a family owned-and-run entity into a family-owned-professionally managed enterprise.
Mr Vimal said the move will help it sustain its growth and leadership in manufacturing of fast moving consumer products locally and abroad.
The new group chief executive officer, Mr Thiagarajan Ramamurthy, said the code of ethics are meant to guide the company’s staff and stakeholders on how to deal with each other as they go about their daily activities.
He said the ethics code will ensure stronger relationships among employees and make the group a better employer and a socially responsible corporate.
“Institutionalising our code of ethics is part of the ambitious growth journey that we have embarked on. They are our guide into creating a world class culture for Bidco, we have the will and scale to achieve it,” he said.
IBM East Africa CEO Nick Nesbitt, who was the chief guest at the launch, lauded Bidco for institutionalising its code of ethics.
He called on more privately owned companies to embrace integrity as its way of fighting to end corruption in the country.
May 23, 2017: Daily Nation