I&M Burbidge Capital (IMBC) has advised Kim-Fay East Africa (Kim-Fay) on its debt raise from Norfund and I&M Bank. Kim-Fay is a manufacturer and distributor of hygiene, tissue, and home care products, primarily operating in East Africa.
Since its inception in 1998, Kim-Fay has built a strong reputation in the East African region, particularly in Kenya, Uganda, Tanzania, and Rwanda. Their product range includes hygiene and tissue products, baby care, feminine hygiene, and personal care products. The company also focuses on sustainability, implementing eco-friendly practices in their manufacturing processes, with a strong ethos of uplifting lives.
Norfund is the Norwegian Investment Fund for developing countries, investing to create jobs, improve lives and support the transition to net zero.
Norfund and I&M Bank’s investment will fund the expansion of Kim-Fay’s business with an aim to provide affordable tissue paper to the mass, lower-income market segment in the region. The company is currently backward-integrating through the construction of a new recycled paper manufacturing facility, which will use locally sourced wastepaper as an input. The new facility is being constructed in Tatu City, Ruiru, with the commissioning expected by 2025.
Edward Burbidge, CEO at I&M Burbidge Capital commented, “We are pleased to have advised Kim-Fay on its debt capital raise. Kim-Fay is a unique, environmentally, and socially impactful business in the Kenyan market, and we are delighted to have managed the process to secure high-profile, long-term financing partners for their backward integration tissue manufacturing facility.”