NAIROBI, Kenya, May 9 – Haco Tiger Brands Managing Director Polycarp Igathe has been promoted to regional Managing Director for Eastern Africa in the latest changes to executive responsibilities by the manufacturing firm.
The process to replace Igathe, who will assume his new position on June 1, is currently underway.
Under Igathe’s watch, the firm’s turnover has tripled and profits quadrupled over the past three years.
He was credited with leading integration of the venture between South African firm Tiger Brands and Haco in 2008 that saw industrialist and Haco Chairman Chris Kirubi acquire a 49 percent equity stake in the joint enterprise, and Tiger Brands 51 percent.
Since then, Haco Tiger Brands has invested Sh400 million in capital expenditure to boost capacity and match consumer demand in East Africa.
Tiger Bands is one of the largest manufacturers and marketers of fast-moving consumer goods in Africa, with a footprint extending across the continent and select countries globally.
The group has 50 manufacturing facilities with majority in South Africa (44), one in Kenya, Ethiopia, Cameroon and Chile with two in Nigeria.