Meet Vimal Shah: Bidco CEO Speaks About Company's Growth, Sustainability, And Future Expansion

• Bidco, under Vimal Shah's leadership, evolved from a humble soap plant into a regional FMCG powerhouse, boasting over 67 brands and operations in over 15 African countries
• The company has invested heavily in its workforce, continuous learning programs, and extensive employee welfare benefits, making its employees a central part of its success
• Sustainability and innovation, according to Shah, are at the heart of Bidco's operations, with investments in solar energy, AI integration, and waste reduction
• While expanding its portfolio, Bidco acquired the entire Elianto and Kimbo brands and will from October start producing Ribena and Lucozade after acquiring Suntory Beverage

Muyela Roberto is a business journalist at TUKO.co.ke with over 9 years of experience in the digital media, offering deep insights into Kenyan and global economic trends.

"We keep looking at ourselves as startups, continually reinventing and improving. At Bidco, change is the only constant. We regularly innovate and pay close attention to consumer and market insights."

These are the opening remarks of Bidco CEO Vimal Shah during an interview with TUKO.co.ke, in which he discussed how Bidco has maintained its stronghold in Kenya's fast-moving consumer goods (FMCG) sector.

History of Bidco

Together with his father, Bhimji Depar Shah, and brother, Tarun Shah, Vimal transformed a modest soap plant founded in Nairobi in 1985 into a regional powerhouse.

Born in 1960, Vimal completed his education in Kenya before earning a degree in Accounting and Finance - Business Administration from United States International University – Africa, Nairobi Campus.

His brief stint in the insurance sector was followed by a decisive move into FMCG, steering the family business in a new direction.

Today, Bidco is East Africa’s leading manufacturer of edible oils and fats, home and personal care products, as well as food and beverages.

The company boasts over 67 brands and operates in 18 African countries, with over 5,000 employees, 1,800 of whom work at its manufacturing plants in Thika and Ruiru.

"Our people are our greatest asset. Even during the COVID economic shutdown, we never sent home staff. We pushed together through the hard time," says Vimal, highlighting the diverse workforce.

"We have a dynamic, dedicated team. Women are excelling in roles traditionally dominated by men, such as forklift operations."

Investing in employees is key to Bidco's success.

"Quality service is one of our core pillars. We invest heavily in our staff to foster a positive and productive work environment. We're the only company with a full learning centre in our factory.

"We offer comprehensive healthcare, career advancement opportunities, private employee welfare, and free daily meals for the past 35 years. Our team takes extreme ownership of Bidco, and we encourage continuous learning."

Expanding horizons

Bidco has steadily expanded its product offerings and geographical footprint.

Starting in 1986 with soap manufacturing, the company ventured into edible oils and margarines in 1991.

In 1998, Bidco invested in oilseed farming and processing, acquiring the entire Elianto brand. Bidco now contracts numerous outgrowers for its oilseed supply, further diversifying into beverages, soft drinks, juices, water, instant noodles, and baking products.

The company also produces bar soaps, sanitisers, and liquid soaps.

In 2002, Bidco entered the Tanzanian market, followed by Uganda in 2004, where it operates palm oil plantations and a manufacturing plant in Jinja.

In 2004, Bidco acquired the iconic Kimbo brand from Unilever.

"We are the only company in Kenya that manages the entire supply chain from farming to oilseed production, processing soybeans, corn, and sunflower," Vimal explains.

Adding:

"This is just the beginning of much more to come... We look forward to expanding into more countries in the Africa and also having a footprint in other parts of the world."

Corporate success and recognition

Under Vimal’s leadership, Bidco has received over 40 corporate awards in 15 years, spanning energy management, business leadership, ICT, and manufacturing.

Vimal himself is regarded as one of Africa’s most visionary business leaders. In 2011, he was named a finalist in the Ernst & Young Entrepreneur of the Year award, a recognition he shares with his brother and business partner, Tarun Shah.

In recent developments, Bidco expressed interest in acquiring all issued shares of Suntory Beverage, a Japanese company known for brands like Ribena and Lucozade.

"By October, we will be producing Ribena and Lucozade ourselves, without taking on any debt—entirely from equity," Vimal notes.

In July, Bidco entered the baby diaper market and is exploring the possibility of establishing a manufacturing line, which could potentially create more job opportunities for Kenyans.

Bidco has also formed a smart partnership with Coro, a leading juice manufacturer in Denmark, and is now exporting to over 26 countries.

Commitment to sustainability

Sustainability is at the heart of Bidco's operations. The company has adopted solar power and produces its own electricity from steam.

"We are keen on reducing waste, recycling, and incorporating AI in various functions, such as consumer insights, HR processes, product development, and supply chain management," Vimal says.

Expanding Investments

Beyond Bidco, Vimal has made significant investments in other sectors. He chairs the Bidco Group, which houses several sub-companies in Kenya, Uganda, Tanzania, and Madagascar, including joint ventures like Bidco Land O’Lakes Limited.

His investments also extend to the floriculture sector, with Xflora Group cultivating roses for export. Employing over 2,500 people, Xflora operates four flower farms and has a reputation for innovation in the industry.

Through Charvi Investments, Vimal is addressing strategic gaps in the potato sector. Charvi is involved in certified seed potato multiplication and propagation and grows other vegetable varieties.

Leadership and influence

Vimal’s leadership extends beyond Bidco. He has held numerous positions, including chair of the Kenya Association of Manufacturers (KAM), Kenya Private Sector Alliance (KEPSA), and East African Business Council (EABC).

He is a member of several international boards and initiatives, such as the Global Business Coalition on HIV/AIDS, TB, and Malaria, the Tony Elumelu Foundation, and the Mauritius Board of Investment.

In 2011, Vimal was awarded the Chief of the Order of the Burning Spear (C.B.S.), one of Kenya’s highest national honors, by President Mwai Kibaki, in recognition of his contributions to business, entrepreneurship, and economic sustainability.

Personal Life

Vimal is married to Manda Shah, and they have one son, Soham. He is an avid reader, with a deep interest in philosophy, spirituality, leadership, innovation, and mentoring.

Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke