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Mauritius multinational pursues aggressive expansion into Kenya

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Mauritius multinational pursues aggressive expansion into Kenya

Mauritius-based conglomerate IBL Group is reportedly moving aggressively to grow into Kenya’s construction, agrochemicals, consumer goods distribution and reinsurance industries, adding to a string of acquisitions it is implementing in the local market.

According to the Business Daily, the multinational plans to enter the local distribution of fast-moving consumer goods through its subsidiary BrandActiv.

“It is also entering the agrochemicals sector through its subsidiary Blychem, reinsurance through Ellgeo Re and electrical and construction through CMH,” it reported.

Last year, IBL acquired a minority stake in supermarket chain Naivas and is currently in the process of taking majority stakes in a solar firm and pharmaceutical distributor whose identities have not yet been disclosed.

BrandActiv is the distributor of major brands in food and beverages, personal care and frozen products including Heinz, Bic, Colgate, Ajax, and Cadbury among others.

“Building on its first inroad within the Indian Ocean Islands, (BrandActiv) is seeking to consolidate its presence in those markets through new partnerships, and also penetrate the Kenyan market,” IBL has said in its latest annual report.

Source: Business Daily

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.