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Sasini Tea, an agricultural firm majority owned by the family of the late Kenyan tycoon Naushad Merali, which ranks as one of Kenya’s leading agribusiness firms, is setting its sights on expansion after reaching the Ksh1-billion ($10 million) profit mark.
This significant achievement places the company among the top-performing businesses in the country and showcases its ability to weather economic challenges and adapt to changing market conditions.
In recent years, Sasini has expanded its product portfolio and entered new markets, both locally and internationally. The company’s focus on quality, sustainability, and customer satisfaction has helped it establish a loyal customer base and gain a competitive edge in the industry.
Going forward, the company plans to continue investing in research and development to bring innovative products to market and explore new business opportunities.
This strategy is expected to drive the company’s growth and increase its profitability in the coming years. Sasini’s success is a testament to the potential of Kenya’s agribusiness sector, which is a key driver of the country’s economy.
The company’s commitment to responsible business practices and its positive impact on the communities it serves are also commendable.
Despite achieving its highest profit in seven years, the family of the late Kenyan tycoon Naushad Merali who owns the majority stake in Sasini, will not receive a single dollar in dividends from their investment in the firm this year, as the board of the Kenyan agricultural firm opted not to declare a final dividend.
The family of the late Kenyan tycoon is the majority shareholder of Sasini, owning a 65.46-percent stake in the company worth over $25 million.
The family’s investment vehicles, Legend Investments Limited, Yana Towers Limited, and East Africa Batteries Limited, make up this portion of ownership, making it one of the most valuable portfolios on the Nairobi Securities Exchange.
