Catalyst Managing Director Rajal Upadhyaya Monday said the funds received would be used to expand Kensta’s subsidiaries in Kenya, Uganda, Rwanda, Zambia and Tanzania.

 

Mr Rajal did not however disclose the amount paid for the stake.

 

Kensta Group of companies consist of Transpaper (Kenya, Uganda, Tanzania, Rwanda), Express Automation (Kenya, Uganda, Tanzania, Rwanda) Phiramid (Zambia) that deal in selling Vivid Printing Equipment, Fusion Inks, and Zenith Rubber Rollers.

 

Kensta Chief executive Priyesh Shah said Catalyst’s entry affirmed the firm’s value as a viable enterprise with potential to grow.

 

“Catalyst’s investment in Kensta is an affirmation of our potential and growth trajectory as we enhance our business, regional presence and product portfolio. Our aim is to continuously innovate and confidently undertake business expansion to provide solutions that will benefit our customers, our employees and our industry,” he said.

 

Catalyst, also holds stakes in Chai Bora (Tanzania), ChemiCotex (Tanzania), Effco Solutions (Tanzania), Zenufa Laboratories (Tanzania), Jamii Bora Bank (Kenya), Orbit Chemical Industries (Kenya) and Yes Brands (Ethiopia).

Source : http://www.businessdailyafrica.com