As demand for its product grows in Kenya, Managing Director of consumer goods manufacturer in Kenya, Bidco, Vimal Shah says the company would invest about $200 million by 2017 to bring up new products.

“It is demand-led. It is a consumption story,” he said at the Reuters Africa Investment Summit on Thursday.

Shah said the group expects a quadruple increase in its annual revenue from Kenya to about $1 billion by 2017 from its current $250 million with the investment expected to foster the growth.

Bidco, one of Kenya’s leading manufacturers of consumer goods has also spread its operations to other East African countries, including Uganda, Tanzania and Rwanda, which serves as base for exportation to 14 other African markets, and has been rewarded with annual revenue of $250 million.

The family-owned group, according to Shah would invest in factories and new production lines as it diversifies into other products like toothpaste, a move from its present focus on soap and edible oils.

As Bido expects demand for consumer goods to continue rising due to population growth, the group could sell its shares to the public in the next ten years after it might taken full advantage of growth opportunities that are available, the MD said.

He noted that Kenya like other African markets would witness exponential growth that will increase demand for consumer goods. According to him, the East African country’s population is expected to increase to 60 million from 40 million by 2030.

Shah however identified lack of land as one of the hinderances that might face the projected growth.

“Land availability is a big problem in Kenya,” he said.

The challenge notwithstanding, Shah remained positive about the group’s growth projection, as he said with enthusiasm; “Africa is not a bubble. Africa is happening, it is a reality… The opportunity in uncertainty is massive.”