THE WHAT? PZ Cussons has sold its Ushindi soap brand to Pwani Oil for Sh107 million, according to a report published by Business Daily Africa.
THE DETAILS The transaction has been cleared by Kenya’s Competition Authority and covers the brand and manufacturing equipment. Ushindi’s current range includes bar soap and detergent.
THE WHY? The sale is part of a wider trend of multinationals bowing out in the face of the Kenyan market in the face of local competition, Business Daily reports, Pwani Oil intends to boost production and up distribution of the brand as well as expand the current product offer, Pwani Commerical Director, Rajul Malde told Business Daily.