The Lower Eastern Times Opening The Third Eye
Kenyan avocado and fresh herb exporter Karakuta Fresh Produce Ltd is planning to list its shares on the Nairobi Securities Exchange (NSE) through introduction, subject to approval from the NSE and the Capital Markets Authority (CMA).
The proposed listing is expected to give the agricultural company access to capital markets as it increases production and targets additional international markets.
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Karakuta founder and CEO Grace Ngungi said the move would also create an opportunity for more investors, including small-scale farmers, to participate in the company’s growth and the wider agricultural value chain.
Ngungi said the company had spent the past eight years developing its operations, including a modern packhouse, high-precision grading technology and export networks serving markets in Europe, the Gulf region and Asia.
She added that the NSE listing would help improve the company’s corporate governance and transparency while opening up additional avenues for raising capital.
Synesis Capital Director of Advisory Services Makopa Mwasaria said the proposed listing would give shareholders a transparent avenue through which the company’s shares could be valued and traded.
According to the company, Karakuta was established in 2018 in Karakuta, Kiambu County, and currently sources Hass and Fuerte avocados from more than 3,000 farmers across Kenya, Uganda and Tanzania.
The firm operates a Nairobi-based packhouse capable of handling up to 250 containers and is equipped with a high-precision avocado grading and packing line.
Its avocado export markets include the European Union, United Arab Emirates, Malaysia and India, while the company is working to expand its presence in China.
Beyond avocados, Karakuta exports a range of fresh herbs, including basil, oregano, thyme, tarragon, mint, rosemary, sage, coriander, lovage and chives.
The company says its operations have supported the creation of 1,163 jobs across its farmer-sourcing network, packhouse and export activities since it began operations.
The advisory team for the proposed transaction includes Synesis Capital as the lead transaction adviser, MWC Legal as legal adviser and Bakertilly as reporting accountants.
