KENYA – Listed agribusiness firm, Kakuzi Plc, has confirmed the first export delivery of 181 Boran breeding heifers worth Kes13.5million to Uganda, in a diversification bid to grow its business.
Marking the completion of the inaugural export delivery, the firm said that it is keen on furthering its diversification plan for more revenue.
Speaking when he confirmed the successful delivery, Kakuzi Livestock Manager Karatina Ole Nchoki said the 181 heifers aged between 30-36 months will be used for breeding at Mpala Farm, which is introducing a Boran herd.
“The export of these Kakuzi Boran heifers to Uganda will undoubtedly boost the rich heritage of this breed further afield in the Pearl of Africa and is part of Kakuzi’s business diversification strategy,” Nchoki said.
While celebrating the inaugural export milestone, Kakuzi Plc Managing Director, Chris Flowers said the agribusiness firm is actively pursuing a product diversification strategy to unlock further value from its commercial forestry, macadamia, avocado, blueberry, tea and livestock investments.
He explained that exports to Uganda come on the back of a steady recovery of the firm’s livestock operations from the recent drought, with sales beginning to pick on the back of growing demand for Kakuzi beef cuts in the retail and Hotel/Restaurant/Catering (HoReCa) market.
In addition, the Kakuzi goat meat venture has now been trademarked as KABUZI and is also expected to boost growth, with initial sales due to commence in the second half of this year.
“All our business lines provide much-needed leverage to unlock value and ramp up target profits per our business diversification strategy,” he stated.
Currently. under the livestock business stream, Kakuzi is rearing a herd of more than 4,420 Boran cattle with the firm’s stud herd registered with the Kenya Stud Book.
Earlier this month, Kakuzi formally adopted a new corporate identity that underscores its commitments to agricultural development for the domestic and export markets.
The new Kakuzi brand is aligned with the national agricultural transformation agenda, with sustainability and climate-smart agriculture at its core.
The new Kakuzi identity, the firm’s first defined brand visual system and strategy in 95 years, also signified a transition to the contemporary world of superfoods growing for both the domestic and export markets based on a strategic decision to prioritise the production of such foods.
As part of the new branding, Kakuzi has officially launched a range of private-label consumer products developed over the last two years for the domestic market, including ready-to-eat macadamia, gluten-free macadamia flour and cold-pressed macadamia oil.
Following an intensive research and development (R&D) programme by the Kakuzi team, the new branded consumer products will be progressively availed to the local market.