We have created direct, full time employment for at least 4,000 people mostly in Kenya and Tanzania, but also several other countries in Asia and Europe.
Although both Kenya and Tanzania have formal unemployment rates of below fifteen percent, a good percentage of people with jobs are underemployed in terms of low pay that is barely sufficient to meet their needs. Against this backdrop, we have been able to make a sizable dent in the unemployment scene in these two countries. We are also contributing to the livelihoods of thousands more since they are part of our value chains across the region.
The macro nature of our enterprises in Eldoret, Mombasa, Nairobi and different parts of Tanzania means that we are contributing substantially to local economies in these places.
In Nandi County, our DL Koisagat Factory and Tea Estate buys tea leaves from hundreds of tea farmers who supply tea that complements what we plant on our vast tea estate. These farmers get regular payments that anchor their livelihoods. This increases the local purchasing power in this region and positively affects the local economy. There are also a myriad of other related revenue generating platforms like wages earned by those who pick tea leaves and transportation fees earned by those who ferry tea leaves from farms to the factory.
In Mombasa, our numerous ventures, key among them being the Nyali Centre, provide livelihoods for hundreds and in so doing help in bolstering the local economy. The same is true in Nairobi where our headquarters are based. As the administrative and substantive engine of the DL Group, the Nairobi office is adequately staffed by a talented team, many of who have been with the DL Group for years.
We also have a large workforce in Eldoret where our Special Economic Zone is based. Due to the large scale construction work that is going on there, we have been able to create employment opportunities for hundreds there. Their earnings are subsequently contributing to growth of the local economy.
Collectively, our companies are contributing not just to local economies but also to Kenya’s national economy. Considering that tea is a leading foreign exchange earner for both Kenya and Tanzania, our tea exports are playing a major part in bolstering the two countries’ national economies. This local and national economic impact is something that we are proud of and are committed to continue nurturing.
“Price is what you pay. Value is what you get.” Warren Buffett.