How family chemist got on London Stock Exchange list
SEE ALSO :Kenya’s first green bond starts tradingThe news came as a huge surprise for the enterprise. “The phone call from the research firm contracted by the London stock exchange group came as a huge surprise to us since to us we didn’t believe that we have grown to a point of being listed as among the top 360 companies to inspire Africa,” says Rotich. What followed was a rigorous verification process of information about the agro chemist. “The calls and questionnaires kept coming the whole of late last year. At some point, they even asked for our audited books of accounts and other crucial information,” says Rotich. After the months of interview and certification of information, the agro chemist made the cut. But how did Paksons Enterprise rise to the top? “My father, the late Philip Koech, started the business at an era when Kenya Farmers Association was the only other outlet in Kericho. He would buy goods such as maize, fertilizer and other products at agent prices,” says Rotich. In 2000, the family members decided it was time to incorporate the company, which had attained a Sh20 million monthly turnover. “We got distribution opportunities whereby suppliers gave us dedicated areas to distribute their products in south rift region,” says Rotich. Some of the lucrative deals for the enterprise was the inking of distribution deals with Coopers, Buyer among other companies.
SEE ALSO :Airtel Africa profit dips 2pc to Sh33bBut how has the family business managed to survive where many others in south rift have failed? “Every family member has a well-defined role in running the family business, which besides the agro chemist also comprises a dairy farm, Fountain schools and Pakmatt supermarket,” says Rotich. “We hold meetings for a specific family business at a particular time.” It also helps that the family owns most of the properties their business sits on in strategic locations in Kericho town. “Paksons agro chemist is located in its own building constructed in 2002 at a cost of between Sh20 and 30 million while Pakmatt supermarket also sits on a multimillion property,” Rotich says. But it is Paksons Enterprises commitment to give its customers the best service which has made it stand tall. “We try as much as possible to be efficient and offer customers the best services. Over the years we have recognised the need to have the right infrastructure such as automating our services,” says Rotich. The IT expert says they have over the years invested Sh10 million in automation. “The automation began in the year 2000, a time when a single personal computer cost up to Sh200,000,” says Rotich. The right human resource had to be also put in place. The company has a total of 12 professional staff and 38 others serving as either drivers or casuals. “In the management level we have CPA-K accountants. At the outlet we have members of staff who hold veterinary medicine degrees. A minimum employment requirement for us is a certificate in general agriculture,” said Rotich. Others with lower education qualifications have gained on-job training experience or attended training offered by the company’s stakeholders in government or the private sector. [email protected]
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