Sasini to sell Kiambu coffee estate for US$51M, unlocking major capital gains 

KENYA – Nairobi Securities Exchange-listed agricultural firm Sasini is set to sell a coffee estate in Kiambu County for KES 7.9 billion (US$51 million), a transaction expected to generate substantial capital gains for the company. 

The company disclosed the pending disposal in its latest annual report, noting that the property has a carrying value of KES 3.7 billion (US$23.9 million). 

“On 17 September 2025 the group agreed to sell the Gulmarg Division in Mweiga Estates Limited. For this reason, the results of the operations have been disclosed as discontinued operations and the assets classified as current assets held for sale,” Sasini said in the report. 

At KES 7.9 billion, the agreed sale value significantly exceeds Sasini’s market capitalisation of KES 4.6 billion (US$29.7 million) as of Friday. The disclosure highlights that the firm is trading well below the value of its underlying assets, a trend that has also been observed among other agricultural companies listed on the NSE. 

Sasini said it had not received payment for the property at the time the annual report was released. The company added that there are no liabilities attached to the disposal, meaning it expects to retain nearly the full proceeds once the transaction is completed. 

The sale marks the latest in a series of asset disposals by Sasini, which has over the years divested divisions and non-core properties as part of a broader restructuring strategy. 

The operations being sold recorded a net profit of KES 10.6 million (about US$68,000) in the year ended September, supported by growth in the value of its plantations. This marked a turnaround from a net loss of KES 6.3 million (approximately US$41,000) reported in the previous year. 

Sasini has previously sold several high-value assets, including its former office building on Nairobi’s Loita Street, which was disposed of for more than KES 600 million (US$3.9 million) in 2015. In the same year, the company sold 513.7 acres of leasehold land in Nyeri for KES 1 billion (US$6.5 million), which housed two loss-making coffee estates. 

Despite challenges in recent years, the coffee business emerged as Sasini’s strongest performer in the year ended September 2025, posting a net profit of KES 237.2 million (US$1.5 million). Overall group earnings stood at KES 177.3 million (US$1.1 million), weighed down by losses in avocado and macadamia operations. 

“The coffee trading unit was the standout performer, achieving its highest ever profits,” Sasini said. 

“Despite a decline in the production volumes in coffee estates due to adverse weather, price realisations at the Nairobi Coffee Exchange were exceptional, averaging $6.19 per kilogramme, compared to $4.65 per kilogramme in 2024.” 

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