Kenyan Billionaire Shah Plans Expansion to Quadruple Sales

Bidco Africa, owned by Kenya’s wealthiest man, is targeting a quadrupling in sales by expanding regionally by the end of the decade to make the company a multibillion-dollar business.

The edible-oils manufacturer is considering building plants in Mozambique, Madagascar or Ethiopia by the end of the decade to add to existing operations in Kenya, Tanzania, Rwanda and Uganda, Chief Executive Officer Vimal Shah said in an interview on April 21. The company trades in 16 African countries outside Kenya and posted sales of $500 million last year, half of that in its home market, he said.