News Column

Germany,Kenya : KEVIAN KENYA invests Sh 2 billion in its new products

July 10, 2014

Kevian Kenya invested Sh2 billion to introduce new products in its plant with the capacity to produce 250 tonnes per day as it seeks to expand its local and regional reach.

Kimani Rugendo, founder of Kevian Kenya, said we are seeking growth through new brands to strengthen our market presence in the region.

The company added its brands of tomato juice and ready-to-drink coffee to the robust portfolio of products, which include Pick N Peel juice brands and Afia.

Kevian has 8 non-alcoholic malt drinks, which are available in Ethiopia, Uganda, Zambia, Tanzania, Zambia and Sudan.

The investment deviates from Kevian s usual external financing, including a $7.6 million funding from German Investment bank, German Investment Corporation (Deutsche Investitions-und Entwicklungsgesellschaft mbH DEG).

The Kenyan company raised the Sh2 billion for the new range of products from its internal cash flow in the East African country s $1 billion soft drinks market.

The Alcohol Control Act has helped the beverage industry grow in Kenya, as alcohol consumption and sale in public bars is banned between 5 pm and 11 pm on weekdays and before 2pm on public holidays and weekends.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters