The Merger that Will See Farmers Become Property Owners

Farmers who use greenhouses can now own the land that hosts the greenhouses in addition to leasing them.

This is after a local agribusiness company Goldenscape Greenhouses Limited merged with Silverstone Properties Limited sellers. Both companies are affiliates of the Goldenscope Group among other 13 companies.

After this partnership, farmers will be able to invest in land by contributing money through a rollover from their Agribusiness returns and pay in flexible installments. The farmers will be contributing 85 percent of Sh500,000 capital of the home through the rollover.

Goldenscape Group chairman Peter Wangai said that the decision to merge the projects was arrived at after requests from the company’s clients. Clients enjoyed the returns from the greenhouses and asked for 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.

This is after the firm successfully rolled out the lease to a greenhouse project. More than 500 investors took up the opportunity and were glad to do so as they earned more than Sh30 million from the sale of horticultural produce grown in their leased greenhouses.

Apart from greenhouse management, the firm sells groceries on behalf of the owners, partnering with more than 3,000 grocery stores to stock and sell the produce.

Refuted Tax Evasion Claims

The parent company, Goldenscape Group, was subject to an early morning social media attack as they were alleged to be evading tax. This is after a sacked employee took to social media saying that the companies under Goldenscope Group only file nil returns every year.

However, the company has responded refuting the allegations made by the former employee. In a statement to media houses, the company assured its customers that it is credible and has the documents to prove it.

“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 the statement.