Kenyan agricultural
producer, Sasini, faces an uncertain future because of drought and
rising oil prices, but plans to diversify its revenue streams to buffer
its main business, its head said on Wednesday. Meteorologists have
warned the East African nation is likely to have a drought, causing
jitters in the agricultural sector.
“We have a drought, we do not know
how long it will last. We are using diesel generators to irrigate,
which is shooting up our costs,” Caesar Mwangi, managing director at
Sasini, told Reuters in an interview. Sasini’s pretax profit for the
year ending September 2010 jumped 82 per cent to 1.4 billion shillings
buoyed by favourable international commodity prices and a weak Kenyan
shilling.
