Reported 3 months ago
Two private equity firms have engaged Nedbank Group Ltd. to sell their shares in Kenafric Industries Ltd., East Africa's largest candy manufacturer, valued over $100 million. Alongside the Shah family's potential exit, this move comes amid rising demand for affordable sweets as Kenya's population grows and the middle class expands. Kenafric, which began as a footwear manufacturer, has diversified into various products and is known for producing over 40 million gum pieces monthly.
Source: YAHOO