This archive report was first published on 29 October 2019.
Laikipia County has witnessed a groundbreaking shift in the agricultural sector, with farmers gaining the right to own the land hosting their greenhouses.
Goldenscape Greenhouses Limited, a local agribusiness company, has merged with Silverstone Properties Limited, allowing farmers to invest in land through a rollover from their Agribusiness returns.
Under the new partnership, farmers will contribute 85 percent of the Sh500,000 capital through the rollover, with the option to pay in flexible installments.
According to Goldenscape Group chairman Peter Wangai, the decision to merge the projects was driven by client demand. Clients had enjoyed the returns from the greenhouses and requested a platform to invest in.
“We decided to merge the two projects owing to the demand we have from our clients, who have enjoyed returns from the greenhouses,” said Goldenscape Group CEO Peter Wangai.
The company plans to launch its agribusiness model of land ownership countrywide after a successful 100-acre pilot phase in Laikipia County, which started in April last year.
Goldenscape Group has successfully rolled out the lease to a greenhouse project, with over 500 investors participating and earning more than Sh30 million from the sale of horticultural produce grown in their leased greenhouses.
The firm also sells groceries on behalf of the owners, partnering with over 3,000 grocery stores to stock and sell the produce.
Addressing Tax Evasion Allegations ¶
Goldenscape Group faced allegations of tax evasion after a sacked employee claimed that the companies under the Goldenscope Group only file nil returns every year.
However, the company has refuted the allegations, stating that it is a credible company with all necessary documents in order.
“We would like to confirm that earlier today on social media one of our aggrieved employees who was summarily dismissed is circulating false information about our company. We would like to assure you that we are a credible company and all our documents are in order,” Peter Wangai, CEO Goldenscape Group said in a statement.
