Shoe firm NBV gets green light to move into new ventures

Nairobi Business Ventures gets shareholder nod to start cement manufacture. [iStockphoto]

Nairobi Business Ventures (NBV) has received shareholders’ nod to diversify into new business lines, including cement manufacturing as well as vehicle and aircraft repairs.

The company expects the new business lines to enable it to grow revenues and return to profitability following the collapse of its shoe business. The company started out as a leather products retail chain, operating under the brand name K-Shoe but exited the retail business amid losses that saw it close down stores. The shareholders at an annual general meeting Wednesday gave the go-ahead to conclude proposed transactions with owners of Delta Cement Shreeji Enterprises.