Please take note
You are about to leave the Absa Group website. The content of the website you are visiting is not controlled by the Absa Group. This link is being offered for your convenience and Absa is not responsible for accuracy or security of the information provided. We recommend that you read the privacy policies and terms of the other website. The requested site will open in a new window.
For the 2019 World Economic Forum annual meeting in Davos, Switzerland, Absa has collaborated with Sasini PLC (Sasini), one of the premier tea brands in Kenya and a client of the bank.
Visitors to Absa’s pop-up venue in Davos will be fortunate enough to sample some of Sasini’s teas.
From one farm to an agribusiness empire, Sasini is living proof that vision and determination are key drivers of success.
Sasini was born as Doondu Estates Ltd in 1952 – made up of just one coffee farm in the stunning Central Highlands of Kenya’s Kiambu District. By 1959, the company had expanded to include three more farms and its explosive growth meant that the company went public in 1960. It is one of the oldest listed firms in the country.
More than just chasing growth, though, the company was looking to diversify, so it acquired a significant stake in tea operation Kipkebe Ltd in 1964. Within a year, it had a 100 percent stake in the company and continued to expand its tea and coffee farming activities, further taking on a majority shareholding in Mweiga Estates Ltd, a coffee farm in the highlands.
With this impressive portfolio, the company operated successfully as Sasini Tea and Coffee until 2007 when it further diversified into an agribusiness that also included dairy, horticulture and forestry. It changed its name to Sasini PLC and focused with renewed vigour on expanding its interests.
This is why it has become one of Kenya’s most successful integrated agribusinesses today, boasting retailing of branded tea and coffee products, coffee mill operations, macadamia nuts and avocado processing, and substantially grown its export trade operations from seaport city Mombasa.
Even with this undeniable success, Sasini never takes its eye off its next ambitious goal: to be the leading agribusiness on the continent. The business plans to achieve this through world-class production and processing using the latest technology, combined with a relentless dedication to environmental conservation and social responsibility.
As part of this commitment to sustainability, Sasini undertakes a sustained forestation programme every year in water catchment areas and has established tree nurseries in the coffee estates for ongoing re-forestation. It has also established the single largest tree nursery for the ongoing extensive re-forestation exercise for the expansive Aberdare Mountain Range National Park.
Social responsibility is another key priority for Sasini, and the company provides housing for its entire workforce of over 4000 employees. It also provides healthcare services, with a medical centre, three satellite dispensaries, a diagnostic laboratory and ambulances on call for workers that may need to be transported to larger health facilities or hospitals.
Sasini additionally built four primary schools and a secondary school and provides ongoing support to each of these schools, as well as care for the younger children of staff members through six day care centres in its tea estates. Toddlers are kept busy and fed on a daily basis as their parents work.
The company continues to prioritise supporting its employees as well as the broader communities in which it operates under its core values of TEA: teamwork, efficiency and attitude and integrity.
Did you know?
Kenya has one of the highest agricultural productivity rates in the East African Community (EAC): 70 percent of the country’s exports have an agricultural focus and the sector employs 75 percent of the rural workforce.
Agribusiness attracts 20 percent of Foreign Direct Investment (FDI) into the region.
Kenya is Africa’s fourth largest coffee producer, with a total output of 790,000 bags in 2017, and the 15th largest coffee producer in the world.
Kenya is third on the top 10 global tea producers list after China and India, producing 473,000 tonnes of tea annually.
Absa Group Limited | Incorporated in the Republic of South Africa | Registration number: 1986/003934/06 | Authorised financial services and registered credit provider (NCRCP7) | JSE share code: ABG | ISIN: ZAE000255915