Karakuta Fresh Produce Sets Sights on NSE Listing to Unlock Growth and Investor Participation

Karakuta Fresh Produce Ltd, one of the leading Kenyan exporters of avocados and fresh organic herbs, has today announced its intention to list by introduction on the Nairobi Securities Exchange (NSE).

Karakuta Fresh Produce intends to list on the NSE subject to approval of its listing application by the NSE and the Capital Markets Authority (CMA).

Karakuta Fresh Produce founder and CEO Grace Ngungi says the listing will enable additional investors, including smallholder avocado farmers, to participate in and benefit from the entire 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. Listing on the NSE is the natural next step. It gives us the governance and transparency that public markets demand, and it positions Karakuta to draw on deeper capital as we scale production and expand into new markets. We believe this listing gives investors a rare entry point: a vertically integrated, export ready agribusiness with the infrastructure and market access already in place, at the very start of its public market journey,” said Mrs. Ngungi.

Listing on the NSE will additionally enable the company to enhance its corporate governance, unlock value and give it access to the deep capital markets for potential capital raising in the future.

“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. It will also position the company to access the capital markets more efficiently as its funding needs evolve,” said Synesis Capital Director, Advisory Services Makopa Mwasaria.

The company was established in 2018 in the Karakuta area of Kiambu County and sources Hass and Fuerte avocados from more than 3,000 farmers in Kenya, Uganda, and Tanzania.

“Before Karakuta, we never knew who would buy our fruit or at what price each season. Now we have a reliable buyer who pays a fair, consistent price, and their team has worked with us on pruning, spacing, and pest management, which has made a real difference to our yields. This listing feels like recognition of what farmers like us bring to this business, and we’re proud to be part of it,”  says Njoki Karanja, an avocado farmer.

Karakuta Fresh Produce additionally operates a state-of-the-art packhouse in Nairobi that has a capacity of 250 containers and features a high-precision avocado grading and packing line. It is one of only 52 operational packhouses in Kenya.

Since its establishment in 2018, Karakuta Fresh Produce has created 1,163 jobs across its sourcing network, Nairobi packhouse, and export operations. The company views this employment footprint as central to its role in Kenya’s agricultural economy, and expects continued job creation as it scales production and expands into new export markets following the NSE listing.

On the herbs front, the firm exports basil, oregano, thyme, tarragon, mint, rosemary, sage, coriander, lovage, and chives.

Mrs. Ngungi added that the company is also eyeing increased fruit supply to serve the growing demand for avocados. Currently, it supplies customers in the European Union, UAE, Malaysia, and India and is now targeting the promising China market.

The transaction advisory team for the listing includes Synesis Capital as lead transaction advisor, MWC Legal as legal advisors, and Bakertilly as reporting accountants. 8 Ball Media leads public relations.

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