Chief executive officer Bidco Kodey Rao said that the introduction of Fortune is intended to meet the growing needs of consumers. “Consumers are always looking for good products, that is why we have decided to bring them Fortune, which has an international presence,” Rao said.
The new edible oil, has only been available in India, United Arab Emirates, South East Asia and Ethiopia, where it was introduced by the Wilmar Group, shareholders of Bidco Uganda and Kenya.
Fatima Alimohamed the brand, marketing, sales and distribution team leader for Bidco, revealed that Uganda is the first country in East Africa where the product is being launched. She said the country is well positioned to serve five other markets including, Rwanda, Southern Sudan, Burundi, and the Democratic Republic of Congo, and Kenya, away from its own.
In the competitive edible oil industry across Africa, Alimohamed said, it is increasingly becoming imperative, if not mandatory, to build our brands in order to attract and retain customers, who have a wide range of alternatives. “We also have to take into account post-2009 scenario, when major industries in all spheres will have access to more organic and inorganic growth."
Bidco operates within the same sector as the Mukwano Group of industries which is the leading oil producer and has potential to pry into its segment. This is in addition to growing local investors in the edible oil industries.
The new oil, will be the fifth oil the company is selling in Uganda besides, Goldfry, SunGold, Elainto, Ufuta among other fat and soap products.
