Kenyan agribusiness Kakuzi Plc plans to nearly double avocado and macadamia production and exports over the next decade, focusing on diversification and sustainable practices.
The listed agribusiness firm said it will focus on diversification and sustainable practices to boost shareholder returns and market reach.
Kakuzi PLC Managing Director Mr Chris Flowers confirmed plans to nearly double avocado production and exports from 3 million four-kilo equivalent cartons to 5 million over the next ten years.
“This will be achieved by a combination of young orchards coming online and completing the plantings next year, as we also seek to mitigate market and shipping risks by using different varieties that mature during different periods of the year,” Mr Flowers said during the company’s 96th Annual General Meeting.
He added that Macadamia production will also be ramped up from 900 tons of kernel to 1,500 tons over the next ten years.
Its diversification strategy also features a market expansion programme with enhanced domestic sales and exports to emerging markets such as India and China beyond the current European mainstay.
Kakuzi PLC Nicholas Ng’ang’a said the agribusiness enterprise, which has the vision to be Africa’s leading superfoods producer and exporter, will focus on sustainable crop and animal production to boost shareholder returns.
In 2023, Kakuzi recorded a pre-tax profit of Ksh 664 million, impacted by a Ksh 354 million pre-tax loss from its macadamia operations. The avocado divisional operations recorded a pre-tax profit of Ksh 1.4 Billion, up from Ksh 0.8 Billion posted the previous year.
