Kakuzi eyes fourth commercial Crop, AgTech to drive growth
NAIROBI, Kenya, May 15 – Listed agribusiness firm Kakuzi Plc plans to introduce a fourth commercial crop and expand its agricultural technology use over the next decade in a bid to boost shareholder value.
Speaking at the company’s 97th Annual General Meeting, Kakuzi Managing Director Chris Flowers said the firm is exploring new revenue streams, including scaling up its blueberry operations and adding another large-scale crop alongside avocado, macadamia, and blueberries.
The firm also plans to nearly double avocado exports from 3 million to 5 million cartons and raise macadamia kernel production from 900 to 1,500 tons.
“We are executing a long-term growth strategy that includes investment in AgTech, sustainable practices, and market diversification,” Flowers said.
Kakuzi Chairman Nicholas Ng’ang’a called for national economic diplomacy to secure US market access for Kenyan avocados and tariff-free trade with China and India, both of which impose 30 percent duties.
Despite posting a pre-tax loss of KSh167 million in 2024—blamed on extreme weather, currency shocks, and Red Sea disruptions—the firm maintained strong operations and shareholder confidence.
Shareholders approved a final dividend of Sh8.00 per share for the year ending December 31, 2024.
