KEY HIGHLIGHTS FROM THE 2019 CHAIRMAN’S STATEMENT
The Company achieved a record profit for the year and for the first time in its history broke the Billion Shilling profit barrier!
The Dividend is also the highest on record with a 56% increase on last year.
Kakuzi’s commitment to its custodial philosophy and developing its agricultural strategy were key areas of focus with the expansion of both the avocado and macadamia operations.
Our sustainability and the well-being of our employees form the very foundation of the Company’s daily activities along with supporting local communities through economic empowerment.
In this regard our avocado smallholder empowerment programme paid out Ksh 93 million (85% of the net returns) to individual farmers and smallholder groups who supplied their fruit to us.
In contrast to this year - 2019 was a dry year with avocado volumes down 45% on 2018 but our export market remained strong with excellent prices paid.
Macadamia volumes were well up with firm pricing leading to excellent returns from our two core crops.
Livestock and forestry performed in line with expectation, but our tea operations experienced a very tough year with weak prices due to high volumes in the market.
Our many CSR initiatives continued with focus on Sustainable Development Goals relating to good health and wellbeing, quality education; gender equality, clean water and sanitation, decent work and on Climate action.
We became a signatory to the United Nations Global Compact and look to join the United Nations Women in support of the principles of Women Empowerment. We have also extended our SHARP program to include the local community.
Development of our community Avocado project continued with agricultural extension services, Social media-based training programmes as well as training programmes with farmers on good agricultural practices with the aim of eventually meeting international standards and maximising returns.
Finally, our strategy and development plans continued through the year with the steadfast and unwavering support of our employees, management and your Board.
My thanks - as always - to ALL for their commitment and hard work throughout the year.