NAIROBI, Kenya, Mar 7 – Kenafric Manufacturing Limited (KML) has announced its expansion into the East African stationery market following the acquisition of Economic Industries Ltd.
The acquisition, which received unconditional approval from the Competition Authority of Kenya (CAK), officially took effect on Tuesday, bringing Economic Industries Ltd under Kenafric’s operations.
Kenafric plans to leverage its extensive distribution network to introduce stationery products in Tanzania, Uganda, Burundi, and the Democratic Republic of Congo, aiming to scale production, lower costs, and offer competitive prices.
“The stationery industry is more than just notebooks and pens—it fuels education, communication, and creativity. By integrating Economic Industries Ltd’s expertise with our manufacturing and distribution network, we are poised to expand our market, drive innovation, and deliver more value to consumers,” said Kenafric Group CEO Mikul Shah during the merger celebration at the company’s stationery plant on Mombasa Road, Nairobi.
Kenafric was already producing and exporting stationery, while Economic Industries Ltd primarily served the local market.
Their merger creates a synergy that enhances production capacity, product diversification, and cost efficiencies.
“Economic Industries Ltd has been producing stationery for the local market, while Kenafric has been strong in exports. By combining forces, we can scale up operations, reduce production costs, and make high-quality stationery more affordable,” added Shah.
Following the merger, Bhavesh Shah, former Managing Director of Economic Industries Ltd, has been appointed Managing Director of Kenafric’s Stationery Division, where he will lead the company’s regional expansion strategy.
Kenafric Group Chairman Bharat Shah reaffirmed the company’s commitment to innovation, sustainability, and market growth.
“We are investing in smarter machinery, data-driven processes, and stronger distribution networks. Automation and real-time analytics will boost efficiency and give us a competitive edge,” he said.
The company also plans to introduce new product categories, including eco-friendly packaging and advanced school and office solutions, to meet evolving consumer needs while maintaining high-quality standards.
Kenya’s stationery market is projected to grow by 3.6% over the next five years, driven by government efforts to improve education standards, expand textbook access, and support children affected by poverty.
With this acquisition, Kenafric is set to lead the future of East Africa’s stationery industry, offering affordable, high-quality products to support education and business growth across the region.
