Kenyan billionaire, Naushad Merali has announced he is investing $30 million to build a milk factory in Nakuru, Kenya – Africa’s fastest growing dairy market. The new facility will increase the competitiveness of Merali’s Sameer Group, as Sameer Agriculture and Livestock Ltd. announced it is looking to expand its production capacity.
Over the past four years, Merali has invested $56 million into his dairy business across East Africa, bringing the company’s production capacity up to 180,000 liters of milk per day. Merali has also launched a $20 million ice cream production unit in Kenya with a monthly capacity of 500,000 liters. Overall, Sameer Agriculture & Livestock Ltd. controls a large share of the country’s dairy market with its Daima brand of fresh milk and yogurts, and its new Creambell brand.
Due to a rapidly growing middle class, the dairy sector in Kenya has seen recent growth, attracting investors including state-owned New Kenyan Cooperative Creameries Ltd., and the Kenyatta family through their Brookstone Dairy. In addition, last year, Nigeria’s Aliko Dangote and Deepak Kameni, of the Zuri Group both announced their intentions of expanding into Kenya’s dairy industry.
To receive relevant news stories with summaries provided by GAI News, subscribe to daily or weekly service.