Karakuta Fresh Produce seeks NSE listing after 350% revenue growth
The listing remains subject to approval by the Nairobi Securities Exchange and the Capital Markets Authority.
KENYA – Kenyan avocado exporter Karakuta Fresh Produce has begun the process of listing by introduction on the Nairobi Securities Exchange (NSE), following a 350% increase in annual revenue from 2024 to 2025, according to the company.
Founded in 2018 and based in Juja, Kiambu County, Karakuta grows and exports Hass and Fuerte avocados, along with herbs such as basil, mint, rosemary, thyme, and coriander.
Its sourcing network covers more than 3,000 growers in Kenya, Uganda, and Tanzania, and its export markets include the European Union, the United Arab Emirates, Malaysia, and India, with the company also considering China.
In 2025, Karakuta commissioned a Nairobi packhouse with a capacity of about 7,500 tons, the company said. The facility handles grading, packing, quality control, and shipment scheduling.
Equity Group financed the facility, and Eshet Eilon supplied the sorting and packing equipment. Moreover, the company has expanded sourcing into Uganda and Tanzania to extend its supply season and reduce dependence on a single growing region.
Meanwhile, a listing by introduction allows existing shares to be admitted to trading without an immediate public share sale or capital raise.
The proposed listing comes as Karakuta reports lower export volumes in 2026. In June, the company said volumes were about 60% below those of the comparable period in 2025, despite a larger crop, citing oversupply, increased competition, and higher freight, packaging, and input costs.
The company has not disclosed a listing date, number of shares, reference price, or expected market capitalization. The listing remains subject to approval by the Nairobi Securities Exchange and the Capital Markets Authority.
The company’s expansion reflects broader trends in Kenya’s avocado sector, which saw output rise 34% to 848,122 tons in 2024, valued at Sh29.5 billion (US$228 million), according to the Agriculture and Food Authority.
In 2024, exports totaled approximately 119.8 million kg, valued at Sh22.27 billion (US$172 million). Therefore, the move is a strategic step toward formalizing the exporter’s market presence and accessing public capital markets.
Finally, for Karakuta, the listing could support investment in processing capacity and in expanding regional sourcing, though specific financial details and timing are pending regulatory approval.
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