Kenya's wealthy Merali family is grappling with a significant decline in the market value of their stake in Sasini Tea, marking a continuation of recent financial setbacks for the prominent agribusiness.
According to data tracked by Billionaire.Africa , the Merali family's investment in Sasini Tea has plummeted by Ksh523.46 million ($4.06 million) over the past three months, reflecting broader challenges within the Nairobi-based company.
Market cap drops below $32 million amid 14% share declineSasini Tea , a renowned agribusiness company, maintains active operations across the country cultivating and processing tea, coffee, avocado, and macadamia nuts. The company also focuses on value-added production for both domestic and international markets.
The company's financial performance for the first half of its 2024 fiscal year further reflects the challenging conditions. Sasini reported revenue of $22.88 million but faced a loss of Ksh37.67 million ($0.29 million), in stark contrast to a profit of Ksh122.11 million ($0.93 million) in the same period last year.
