Malde Brothers: The New Billionaire Owners Of Kartasi Industries Limited

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Coast-based manufacturer Pwani Oil Products has acquired stationery firm Kartasi Industries Limited for an undisclosed sum in a strategic move to diversify its business portfolio. The company is owned by Mombasa-based tycoon Ramesh Malde and his brothers Anil and Naresh.

The company started out as a coconut oil production plant before changing into Jomvu Pwani Oil Products factory where they manufactured corn and sunflower oils. In 1985, the company metamorphosed into palm oil refining and gained the name Pwani Oil Group Company. The three brothers, who are of Indian descent, established the company with the vision of providing quality products that would facilitate consumers to cook healthy food and wash hygienically.

Leadership

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The Board of Directors consists of the three founders, Ramesh Malde, Anil Malde and Naresh Malde. Patrick Mwenda is the CEO, Rajul Malde is the Director for Commercial Development, Riten Malde the Director of Operations, Aarti Malde the Director of Corporate Governance, Rajan Malde the Director of Corporate Affairs, Mukesh Shah the Board Advisor and Adema Sangale, the Board Advisor.

Other key leaders in the company include Vincent Mbalu, Head of Commercial support, Edward Magiri, Senior Manager of National Sales, Sidik Kassam, Manager of Business Development, Anthony Kamau, Country Manager of Tanzania, Dhrubojyoti Purkayastha, Head of Marketing, Bernie Mwangi, Manager of Credit Control, Viraaj Malde, Senior Manager of Commercial Control and Pranab Bhowmik, Manager of Research and Development.

Pwani Oil

Pwani Oil, the manufacturer of Freshfri, Salit, and Fry Mate cooking oils, is a major player in the edible vegetable oils and fats industry and has exposure to the laundry and toilet soaps. The company is now looking to expand its business into stationery.

The firm has also created a new entity called Kartasi Products Limited, which will house the new business. Kartasi Industries is a major player in the manufacture of the educational and commercial stationery market which has more than 400 players.

Pwani Oil has been expanding its consumer base by buying brands packaged and priced for different consumer segments, including low-income households. Some of the company’s recently acquired products include the popular Ushindi soap brand, boosting its presence in the fast-growing personal and home care products category.

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The acquisition gave it a bigger slice of the lucrative personal and homecare product market along with its brands White Wash and Ndume. Pwani Oil also acquired the Rainbow detergent soap brand from Match Masters Limited.

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