Kenafric Manufacturing Limited (KML) is set to expand its presence in the East African market following the acquisition of Economic Industries Ltd. This strategic move, approved by the Competition Authority of Kenya (CAK), will enable Kenafric to leverage its distribution network to introduce stationery products in Tanzania, Uganda, Burundi, and the Democratic Republic of Congo. The acquisition aims to enhance production efficiency, reduce costs, and offer competitive pricing.
Kenafric plans to integrate Economic Industries Ltd’s expertise with its manufacturing capabilities to drive innovation and deliver more value to consumers. The company also intends to introduce new product categories, including eco-friendly packaging and advanced school and office solutions. Bhavesh Shah, former Managing Director of Economic Industries Ltd, has been appointed Managing Director of Kenafric’s Stationery Division to lead the regional expansion strategy.
For more detailed information, you can read the full article here.
Source: Correspondent, Business Daily Africa.
