Kim-Fay has secured funding from the Norwegian Investment Fund for Developing Countries (Norfund) and I&M Bank for its new facility at Tatu City. The financing will support Kim-Fay’s business expansion, focusing on providing affordable tissue paper to lower-income market segments.
The funds will also be directed towards constructing a new recycled paper manufacturing facility at Tatu City, using locally sourced wastepaper. The new facility is expected to be operational by 2025.
Kim-Fay is licensed in Kenya to manufacture, market, and distribute products for Kimberly-Clark, a producer of consumer tissue, with globally renowned brands such as Kleenex, Kotex, and Huggies. The company also distributes Unilever’s Dove and Lux brands in the region. It recently signed a distribution agreement with Dabur Limited, a consumer goods company known for its Ayurvedic products.
The investment from Norfund and I&M Bank aligns with Norfund’s mandate to support sustainable enterprises, create job opportunities, and improve lives in developing economies. Kim-Fay’s product range includes baby care, feminine hygiene, and personal care products, currently serving markets in Kenya, Uganda, Tanzania, and Rwanda.
Commenting on the partnership, Raj Bains, CEO at Kim-Fay said, “This investment comes at a crucial time as the demand for tissue and hygiene products continues to grow in Kenya and the wider East-Africa region. Our new facility at Tatu City will enable us to meet this demand more efficiently while supporting our sustainability commitment through recycled materials. We thank Norfund and I&M Bank for their support in this venture.”
On his part, David Karimi, Deputy Country Head and Head of Sales at Tatu City, stated, “We are thrilled to welcome Kim-Fay to Tatu City. This partnership not only strengthens Tatu City’s position as a premier investment destination but also aligns with our mission to foster economic growth and sustainable development. The collaboration with Norfund and I&M Bank underscores Tatu City’s attractiveness to world-class enterprises which contribute to Kenya’s economic growth.”
William Nyaoke, East Africa Director at Norfund, commented, “We are excited about this partnership with I&M Bank to finance Kim-Fay’s expansion and the development of a state-of-the-art wastepaper recycling facility at Tatu City. This project is a testament to our commitment to fostering sustainable business practices and economic growth in the region.”