Giant investment Company, Centam is claiming its spot in the already well invested area of Kenyan Agribusiness by buying 120 acres of land in Ol Kalau, Nyandarua County to start a mass production of exotic herbs and vegetables for export. It acquired the same with a whooping 89 million shillings which translates to close one million US dollars. It acquired the large farm using its recently acquired subsidiary. Greenblade Growers Ltd.
Centum said it is currently developing the site, with some of the infrastructure including a 1,296 square metre pack house which will be used for value addition with a capacity to process 10 tonnes of fresh produce per day. It is also building greenhouses on 14 acres of the site besides a 30,000 square metres water reservoir.”Through this subsidiary we acquired a 120-acre site in Ol Kalau, Nyandarua, and have established a business focused on growing herbs and vegetables primarily for EU markets,” the company says in its latest annual report.
The top investment firm in Nairobi further states in the report that it intends to significantly scale up its investment in the agribusiness sector going forward through the acquisition of larger tracts of land, diversification into further agricultural products, and development of end-to-end value chain infrastructure. The company said it will buy more land parcels in Kenya and the region as it steps up its investment in the sector.Through the program it plans to export a range of horticultural produce including exotic herbs; coriander, parsley, dill, chives, tarragon, lemongrass, mint and rosemary to many countries particularly those in Europe including Great Britain and The Netherlands.
Agriculture is the latest industry Centum has ventured into.The company has also moved to invest in the education sector with other institutional investors, recently buying land on Kiambu Road for the establishment of the first of a chain of private schools in the region.