JUJA, Kenya, Sept 17 – Kenyan avocado and fresh herb exporter Karakuta Fresh Produce Ltd plans to list on the Nairobi Securities Exchange (NSE) by introduction, subject to approval by the NSE and Capital Markets Authority (CMA).

The company said the proposed listing will give it access to capital markets as it expands production and enters new export markets.

Karakuta Fresh Produce founder and CEO Grace Ngungi said the listing would also allow more investors, including smallholder farmers, to participate in the agricultural value chain.

“Karakuta has spent eight years building what most companies in this sector only aspire to: a state-of-the-art packhouse with one of Kenya’s few high precision grading lines, export channels into Europe, the Gulf, and Asia, and most recently China,” Ngungi said.

She said the listing would strengthen the company’s governance and transparency while providing access to additional capital as it expands.

Synesis Capital Director, Advisory Services Makopa Mwasaria said the listing would provide shareholders with a platform for price discovery and trading of the company’s shares.

“The proposed listing will enhance Karakuta Fresh Produce’s visibility and profile in the market, while providing shareholders with a transparent platform for price discovery and trading of their shares,” Mwasaria said.

Established in 2018 in Karakuta, Kiambu County, the company sources Hass and Fuerte avocados from more than 3,000 farmers in Kenya, Uganda and Tanzania.

Karakuta operates a packhouse in Nairobi with capacity to handle 250 containers and a high-precision avocado grading and packing line.

The company exports avocados to the European Union, United Arab Emirates, Malaysia and India, and is seeking to expand into China.

It also exports basil, oregano, thyme, tarragon, mint, rosemary, sage, coriander, lovage and chives.

Karakuta said it has created 1,163 jobs across its sourcing network, packhouse and export operations since its establishment.

The listing advisory team comprises Synesis Capital as lead transaction adviser, MWC Legal as legal adviser and Bakertilly as reporting accountants.