{"id":99011,"date":"2024-08-23T11:30:42","date_gmt":"2024-08-23T08:30:42","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=99011"},"modified":"2024-08-23T10:03:05","modified_gmt":"2024-08-23T07:03:05","slug":"huggies-maker-kim-fay-gets-funding-for-tatu-city-plant-expansion","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2024\/08\/huggies-maker-kim-fay-gets-funding-for-tatu-city-plant-expansion\/","title":{"rendered":"Huggies-maker Kim-Fay gets funding for Tatu City plant expansion"},"content":{"rendered":"<p><strong>NAIROBI, Kenya, Aug 23 &#8211; Manufacturer and distributor of hygiene, tissue, and home care products, Kim-Fay has secured funding to open a new production line at Tatu City in Kiambu County.<\/strong><\/p>\n<p>The boost comes from the Norwegian Investment Fund for Developing Countries (Norfund) and I&amp;M Bank.<\/p>\n<p>In the deal, Norfund will support Kim-Fay business expansion with a focus on affordable tissue paper for lower-income market segments.<\/p>\n<p>Kim-Fay plans to lower product cost by opening a new recycled paper manufacturing facility using locally sourced wastepaper.<\/p>\n<p>&#8220;This investment comes at a crucial time as the demand for tissue and hygiene products continues to grow in Kenya and the wider East-Africa region,&#8221; Kim-Fay Chief Executive Officer Raj Bains said.<\/p>\n<p>&#8220;Our new facility at Tatu City will enable us to meet this demand more efficiently while supporting our sustainability commitment through recycled materials. We thank Norfund and I&amp;M Bank for their support in this venture.&#8221;<\/p>\n<p>Kim-Fay is licensed in Kenya to manufacture, market, and distribute products for Kimberly-Clark, an American-based producer of consumer tissue with global brands such as Kleenex, Kotex, and Huggies.<\/p>\n<p>The company also distributes Unilever\u2019s Dove and Lux brands in the region.<\/p>\n<p>It recently signed a distribution agreement with Dabur Limited, an Indian multinational consumer goods company known for its Ayurvedic products.<\/p>\n<p>&#8220;We are thrilled to welcome Kim-Fay to Tatu City. This partnership not only strengthens Tatu City&#8217;s position as a premier investment destination but also aligns with our mission to foster economic growth and sustainable development,\u201d Tatu City Deputy Country Head and Head of Sales David Karimi stated.<\/p>\n<p>\u201cThe collaboration with Norfund and I&amp;M Bank underscores Tatu City&#8217;s attractiveness to world-class enterprises which contribute to Kenya&#8217;s economic growth.&#8221;<\/p>\n<p>More than 80 local, regional, and global businesses are operational or under development in Tatu City\u2019s business-friendly location, including CCI Global, Heineken, Dormans, and K\u00e4rcher.<\/p>\n<p>Others are Cooper K-Brands, Grit Real Estate Income Group, Twiga Foods, Freight Forwarders Solutions, ADvTECH, Friendship Group, and Davis &amp; Shirtliff.<\/p>\n<p>Business benefits at Tatu City special economic zone (SEZ) include VAT zero-rating, import and stamp duty exemptions, and 10 percent corporate tax for the first 10 years and 15 percent for 10 years thereafter.<\/p>\n<p>&#8220;We are excited about this partnership with I&amp;M Bank to finance Kim-Fay\u2019s expansion and the development of a state-of-the-art wastepaper recycling facility at Tatu City,\u201d Norfund East Africa Director William Nyaoke added.<\/p>\n<p>\u201cThis project is a testament to our commitment to fostering sustainable business practices and economic growth in the region.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAIROBI, Kenya, Aug 23 &#8211; Manufacturer and distributor of hygiene, tissue, and home care products, Kim-Fay has secured funding to open a new production line at Tatu City in Kiambu County. The boost comes from the Norwegian Investment Fund for Developing Countries (Norfund) and I&amp;M Bank. In the deal, Norfund will support Kim-Fay business expansion [&hellip;]<\/p>\n","protected":false},"author":14381,"featured_media":99012,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3925,934,3734,9354,19579,19580,7150,1163],"coauthors":[6664],"class_list":["post-99011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kenya","tag-expansion","tag-featured","tag-funding","tag-gets","tag-huggies-maker","tag-kim-fay","tag-plant","tag-tatu-city"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Huggies-maker Kim-Fay gets funding for Tatu City plant expansion - Capital Business<\/title>\n<meta name=\"description\" content=\"NAIROBI, Kenya, Aug 23 - Manufacturer and distributor of hygiene, tissue, and home care products, Kim-Fay has 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