Sasini PLC Annual Report and Financial Statements Year Ended 30/09/2021

Our history began in 1952, in what was then known as the Kenya

Colony, eleven years prior to Kenya’s independence from British

colonial rule in 1963. At the time, Sasini PLC was originally

incorporated as Doondu Estates Ltd, with one coffee farm in the

beautiful Central highlands of Kenya in what was known as Kiambu

District (now Kiambu County).

Realizing that growth was the only option, the young coffee growing Company went on to acquire three more coffee farms in the same vicinity of Kiambu District in 1959. Growth demanded changes in the Company’s financial sourcing options and in response to this demand, the Company converted from a private company to a public company in 1960.

This was a great turning point in its adventure of growth and diversification as Sasini PLC is indisputably one of the oldest firms in Kenya to be listed on the Nairobi Securities Exchange. In the true spirit of an adventurous pioneer, Sasini PLC realised that Agricultural risks are best managed through product diversification. It was in this spirit that Sasini PLC entered the Tea sub-sector by acquiring a significant stake in its first Tea operation known as Kipkebe Ltd in the western side of the great Rift Valley region of Kenya in 1964.

Sasini PLC subsequently raised its stake to 100% in Kipkebe Limited in 1965. Expansion continued with the acquisition of additional coffee interests through purchase of significant majority shareholding in Mweiga Estate Ltd, a Coffee farming operation that had large coffee farms in the highland coffee zones of the Mount Kenya region in Kenya’s Central Highlands. For many years, Sasini operated its Business as Sasini Tea and Coffee Limited with emphasis on its two main flagship products: Tea and Coffee. This however changed in 2007, when Sasini realised that it was in Agribusiness and had diversified its operations to include horticulture, tourism and forestry. In recognition of its diversified operations, it changed its registered name to Sasini Ltd in 2007 and subsequently to Sasini PLC in 2017 to comply with the provisions of the new Kenya Companies’ Act.

Since 2007, Sasini PLC has continued on its diversification drive through its new ventures in packing of branded tea and coffee products for retail market, coffee mill operations and export trade operations based in Mombasa. These latter developments were in line with Sasini’s strategic plan and they were underwritten through the issuance of a five-year corporate bond in 2007, which was fully repaid in 2010, two years before its maturity. Sasini PLC has recently ventured into Macadamia with a newly built state of the art factory and Avocado processing for export. Today, Sasini PLC is an integrated agribusiness that is well on its way to becoming an African pacesetter in the growing, processing and marketing of quality agri-based products to the world. The emphasis on production diversification has metamorphosed to knowledgeable enterprise/outfit with emphasis on operational efficiency, innovation and marketing.

Sasini Avocado Ltd packs avocados at Sameer Industrial Park, strategically located for easy access to transportation via air and sea. We export to the UK, Europe, and the USA, with 50% of our avocados sourced from out-growers. Our rigorous traceability system ensures the origin of our fruits, and we test for Maximum Residue Levels (MRLs) using ISO 17025 certified laboratories.

We specialize in packing Hass and Fuerte Avocados according to EU specifications, ensuring quality and consistency. Other varieties like the pinkerton and jumbo are packed as per demand by specific markets.. Our certifications include Global G.A.P for farms, Sedex Members Ethical Trade Audit (SMETA) for the pack house, and KEPHIS for phytosanitary compliance.

Avocado, scientifically known as Persea Americana, is a superfood known for its health benefits, aiding in weight loss and promoting heart health. It’s rich in nutrients, offering 20 different vitamins and minerals often lacking in modern diets, making it a nutritious and delicious choice.

Size	Min Weight/Piece (g)	Max Weight/Piece (g)
12	300	371
14	258	313
16	227	274
18	203	243
20	184	217
22	165	196
24	151	175
26	144 (in 10 kg)	157 (in 10 kg)
28	134 (in 10 kg)	147 (in 10 kg)
30	123 (in 10 kg)	137 (in 10 kg)

Company Affiliates

In order to ensure seamless interaction with relevant agribusiness stakeholders and sectoral advocacy programs, Sasini PLC has ensured it maintains active affiliations and links with various organizations and associations that are critical to the Company’s business environment.

Sasini PLC is a member of the Sameer Group of Companies, one of Kenya’s largest conglomerates with an extensive mix of investments and footprints in various sectors of the Kenyan economy. The commonality of Directors within the Group Companies provides us with useful insights into business strategies and options available for effective business decision-making.

Our Staff

Corporate Social Investment

Sasini’s Corporate Social Investment is focussed on ensuring its provides its large workforce with quality life on its Estates. In this regard the emphasis has been on quality Education and Health care services. It housing policy also ensures that the workers live in healthy conditions in order to provide their best at work. Sasini ensures that its takes the best possible care for all its 4,000 plus strong labour force. In this regard, we provide staff housing for all workers and their families on the Estates.

Significant social investment has also been made in ensuring quality healthcare is provided to all staff. The Company maintains a well equipped Medical Centre with in patient and outpatient treatment options. It also maintains three satellite dispensaries with well trained medical personnel and a diagnostic laboratory. The facilities also have ambulances on standby in case critical cases need to be transported to larger health facilities.

In addition we recognize that Education is the most important investment we can make in the lives of our staff. The Company has therefore constructed four excellent primary schools and we continue to support them on an ongoing basis. The results obtained in the National Examinations from the schools are often among the best in the region. We also ensure that we provide preschool opportunities for the younger children and in this regard we have established six day care centers in our Tea Estates where toddlers are kept busy and fed on a daily basis as their parents work.

Social amenities are availed in each estate including grocery shops, barber shops, maize milling facility and staff clubs for after hours entertainment. Significant social investment has also been made in ensuring quality healthcare is provided to all staff. The Company maintains a well equipped Medical Center with in patient and outpatient treatment options. It also maintains three satellite dispensaries with well trained medical personnel and a diagnostic laboratory. The facilities also have ambulances on standby in case critical cases need to be transported to larger health facilities. The Company also has a clear policy on Child labour and all employees have been sensitized to the policy. The Company does not under any circumstances employ children in any capacity whatsoever.

Our Operations

Coffee Operations
Our coffee operations include coffee growing and forestry. Coffee is grown on six independent estates in the Central Highland of Kenya covering a total of 775 Hectares (1,915 acres) under
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Sasini Avocado
In the newly launched avocado line of business, the Company processes and markets the fruits for export to United Kingdom, Europe and America, among others. About 50% of the fruits
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Tea Operations
Our tea operations include growing, processing, warehousing and marketing of bulk tea through the Mombasa auction and through direct sales to customers overseas. About 99% of
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Macadamia Nuts
As part of the continuing diversification initiatives, macadamia nuts processing has been introduced in an export processing zone in Kiambu County. The Company has also
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Retail
Sasini PLC quenches the thirst of many tea and coffee drinkers through its Retail Division, by offering its high-quality tea and coffee that is locally grown and processed. The teas and coffees are readily available in the major retail outlets across Kenya at affordable prices.
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Tea Operations

Our tea operations include growing, processing, warehousing and marketing of bulk tea through the Mombasa auction and through direct sales to customers overseas. About 99% of the produce is exported to United Kingdom, Europe and Middle East Countries. Our tea farms are located in the highlands West of the Rift Valley in Sotik and Nyamira areas. The operations comprise four large tea estates covering 1,463 hectares and two CTC tea factories (Kipkebe and Keritor) with a combined capacity of between 12,000 and 15,000 MT of black CTC tea annually. Green leaf to the factories is supplied from our own farms and from selected out growers in the region. Out growers contribute about 40% of our green leaf intake.

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