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November 18, 2018

Bidco targets Sh100bn turnover in fi ve years

Bidco Group chairman Vimal Shah during a past media breifi ng /FILE
Bidco Group chairman Vimal Shah during a past media breifi ng /FILE

Consumer goods company Bidco Africa plans to commission four new plants by end of the year as part of an ambitious diversification plan estimated at $200 million (Sh20.66 billion) in the next five years.

 The company is presently constructing an industrial park in Ruiru that will house multiple manufacturing units including a beverage plant expected to begin production later this year.

 “We will commission four new plants by the end of the year representing an initial investment of $50 million (Sh5.16 billion) in the first phase,” Bidco Group chairman Vimal Shah said yesterday. “The second phase will comprise an additional investment of $150 million (Sh15.5 billion).”

 Speaking during a partner briefing where the firm launched its Code of Ethics, Shah said that the company had set itself a billion dollar revenue (about Sh103 billion under prevailing exchange rate) target over the next five years. He said the firm’s ambitious growth trajectory and investment plans justified the target.

 “We are entering a high-growth phase with major investments. The Bidco Industrial Park will house 10 new factories so we are confident that we can crack the billion dollar ceiling,” Shah said.

 The Thika-based, growth-hungry firm on April 10 appointed former Nakumatt Holdings’ regional operations and strategy director Thiagarajan Ramamurthy as group managing director.

 The move saw the Shah family relinquish the management of the company to an independent executive as part of separating management from ownership. This is key in raising capital. Bidco also appointed former Kenya Airways marketing director Chris Diaz as its group marketing chief on April 4.

 The firm yesterday launched its Code of Ethics which is aimed at tackling corruption in the value chain.

 “Corruption is a problem in this country. Investors are leaving and we as the private sector have decided to stand up and say no and this code is Bidco Africa’s way of adding our voice to the cause,” Shah said.

 He said the company’s 1,700 employees and 500 suppliers have to read the document, sign and live by it.

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