Kakuzi Plc, an agri-business listed at both the Nairobi Securities Exchange(NSE) and the London Stock Exchange, has picked former Attorney General Prof Githu Muigai to head its newly established Independent Human Rights Advisory Committee( IHRAC).
This committee will advise Kakuzi’s Board and review its action points to ensure its accountability program is on track.
The firm has in the past suffered bad publicity following allegations that it was subjecting its workers to human rights abuses, including rape and violence.
Kakuzi Plc is the first in Sub-Sahara to form this panel
Kakuzi is engaged in cultivating tea, growing, packing and selling avocados, livestock farming, growing and selling pineapples, and forestry and macadamia development.
The firm becomes the first in Sub-Sahara Africa to set up an Independent Human Rights Advisory panel to establish an independent advisory committee benchmarked against the United Nations Guiding Principles on Business and Human Rights.
Other committee members are Grace Madoka, former IPOA Board Member Grace Madoka, Dr Brenda Achieng, previously Finlay’s Kenya Legal and HR Director and Andrew Ndegwa- a non-executive director. One other member is to be named soon.
Both Ms Madoka and Dr Achieng are lawyers, while Ndegwa is a professional accountant.
Chris Flowers, Kakuzi Plc MD, said in a statement that the advisory panel would offer technical support to the board concerning human rights issues and ensure the company adheres.
“The technical advisory and expertise would guarantee sustainable compliance with global human rights matters across the Nairobi Securities Exchange (NSE) listed firm’s operations,” added Mr Flowers.
In his remarks, Prof Githu lauded Kakuzi PLC for pioneering a public accountability programme. He said it had depicted its commitment to respecting human rights within its operating and supply chain environment.
Prof. Githu said human rights standards were critical to business accountability and that adoption of IHRAC is an idea whose time has come and one that I would strongly recommend.”
Kakuzi Plc trades on the Nairobi and London Stock Exchange with its farms in Nandi Hills, Muranga and Makuyu.
Kakuzi Plc is closed its last trading day (Tuesday, August 10, 2021) at KSh 415.00 per share on the NSE.
This counter began 2021 with a share price of KSh 365.00 and has since gained 13.7% on that price valuation, ranking it 15th on the NSE in terms of year-to-date performance.
The stock has accrued 11% over the past four-week period—10th best on NSE.
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