Logistics company Bolloré Kenya on October 4 denied owing contractors any money even as media reports continue to link the company to financial woes and lack of business occasioned by stiff competition from deep pocketed firms.
A statement signed on October 4 by Bolloré Kenya Managing Director Jean-Pascal Naud rubbished media reports that the firm was broke.
“We are surprised and disappointed that such poorly researched articles can be published. The articles contain untrue and highly defamatory comments about our Company, Bolloré Transport & Logistics Kenya Limited, and seem designed to damage our reputation in the market place,” read the statement.
The company however admits to having completed an organizational restructure which it claims is aimed at improving the efficiency.
“This restructuring exercise in Kenya was planned and a reflection of the industry position in the country. This new structure will enable us to serve our customers better in light of the changes affecting the entire logistics landscape in the region,” claims Bolloré.
The parent company of Bolloré Kenya, which has operated in the country for the past 50 years, is headquartered in France. The company says audited financial results of Bolloré are publicly available on the Paris Stock Exchange.
Mr. Naud added that Bolloré will continue investing in Kenya.