The Lower Eastern Times Opening The Third Eye
Related Articles
Kenafric Manufacturing Limited (KML) has announced its entry into the East African stationery market following the acquisition of Economic Industries Ltd.
Click here to join our WhatsApp Channel
The acquisition, which was granted unconditional approval by the Competition Authority of Kenya (CAK), took effect on Tuesday, officially incorporating Economic Industries Ltd into Kenafric’s operations.
Kenafric plans to utilize its extensive distribution network to introduce stationery products in Tanzania, Uganda, Burundi, and the Democratic Republic of Congo, aiming to increase production, reduce costs, and offer competitive prices.
“The stationery industry is more than just notebooks and pens—it supports education, communication, and creativity. By combining Economic Industries Ltd’s expertise with our manufacturing and distribution capabilities, we are ready to expand our market, foster innovation, and provide more value to consumers,” said Mikul Shah, CEO of Kenafric Group, during the merger celebration at the company’s stationery plant on Mombasa Road, Nairobi.
Kenafric was already producing and exporting stationery, while Economic Industries Ltd primarily served the local market.
The merger creates a synergy that enhances production capacity, product variety, and cost-effectiveness.
“Economic Industries Ltd has been focused on the local market, while Kenafric has excelled in exports. By joining forces, we can scale up operations, lower production costs, and offer high-quality stationery at more affordable prices,” added Shah.
Following the merger, Bhavesh Shah, the former Managing Director of Economic Industries Ltd, has been appointed as the Managing Director of Kenafric’s Stationery Division, where he will oversee the company’s regional expansion strategy.
Kenafric Group Chairman Bharat Shah reiterated the company’s commitment to innovation, sustainability, and market growth.
“We are investing in advanced machinery, data-driven processes, and enhanced distribution networks. Automation and real-time analytics will increase efficiency and provide us with a competitive advantage,” he stated.
The company also plans to introduce new product categories, such as eco-friendly packaging and advanced school and office solutions, to address changing consumer demands while maintaining high-quality standards.
Click Here To Subscribe To Our YouTube Channel
Kenya’s stationery market is expected to grow by 3.6% over the next five years, driven by government efforts to improve education standards, increase access to textbooks, and support children impacted by poverty.
With this acquisition, Kenafric is set to lead the future of the East African stationery industry, offering affordable, high-quality products that support education and business growth across the region.
