Business

He’s the Founder of Bidco Africa~Story of the Second Richest Man in Kenya{Depar Shah}

Bhimji Depar Shah is the founder and chairman of Bidco Africa, one of East Africa’s largest conglomerates with interests in over 13 African countries.

Bidco has over 40 brands and is considered the largest marketer and producer of fast-moving consumer goods.

In 2015, Forbes ranked Shah as the richest man in Kenya with a net of $700 million and the 31st richest in Africa. In 2022, he was ranked the second richest man in Kenya with an estimated net worth of $750 million.

Shah was born in 1931 in Mombasa Kenya. He was the son of a dhow trader and ventured into business while still a teenager.

Bidco Africa is the biggest oil manufacturer in the country. In 2015, it was said to be the leading fats and edible oils manufacturer controlling 24 per cent of the Kenyan market.

Some of their oil brands include Kimbo premium oil blend, Elianto corn oil, Ufuta cooking oil, Olive gold-blend oil, Sungold sunflower oil, Soyagold soyabean oil, Golden Fry cooking oil and Bahari Fry cooking oil.

Bidco has also been ranked among the top 5 most admired brands in Kenya according to a 2019 article by African Business Magazine.

Apart from edible oils, Bidco Africa also manufactures animal feeds, personal care and beauty products, baking products, foods and beverages, detergents and laundry bars.

Depar Shah is the father of Vimal Shah who serves as the current Chief Executive Officer of Bidco Africa. He is an alumnus of the United States International University (USIU) and is a recipient of many awards including the Ernst & Young African Entrepreneur of the Year.

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