In a perplexing turn of events that has captivated investors on the Nairobi Securities Exchange (NSE), Kapchorua Tea Kenya Plc shares surged to an unprecedented all-time intraday high of KSh 332 on July 11, 2025, before settling at KSh 321.50, marking a robust 6.46% gain for the day. This remarkable rally is not an isolated incident; the stock has demonstrated extraordinary momentum, climbing 13.9% in a week, an impressive 45.5% over the past month, and a staggering 42.2% over the last three months. Year-to-date, Kapchorua Tea has advanced a formidable 36.2%.

This stellar stock performance stands in stark contrast to the company’s recently announced financial results, which revealed a significant weakening of its fundamentals. In May 2025, Kapchorua issued a profit warning, a cautionary signal to investors that its earnings for the financial year ending March 31, 2025, would decline substantially. This warning was subsequently confirmed in late June, with the company reporting a precipitous 55% fall in net profit to KSh 181 million, down from KSh 399 million in FY2024. Revenue, meanwhile, inched up by a mere 1.1% to KSh 2.22 billion. The paradox of a soaring stock price amidst a sharp profit decline has ignited discussions among market analysts and investors, prompting a deeper look into the forces at play.

The Market’s Enigma: Why the Share Price Surge?

The divergence between Kapchorua Tea’s stock performance and its underlying financial health presents a classic market enigma. Typically, a company’s share price is expected to reflect its profitability and future earnings potential. However, several factors can contribute to such a contradictory scenario, often involving a blend of market sentiment, technical trading patterns, and specific corporate actions.

Beyond Fundamentals: The Role of Market Dynamics

While fundamental analysis focuses on a company’s financial statements, management, and industry outlook, stock prices are also heavily influenced by broader market dynamics. Investors are not always solely focused on past performance; they are often forward-looking, attempting to discount a company’s future earnings and growth prospects into its current valuation.

• Future Expectations and the Forward-Looking Market: The stock market is inherently a forward-looking mechanism. Investors often price in anticipated events and future performance rather than just reacting to past results. In Kapchorua Tea’s case, there might be an underlying belief among a segment of investors that the current downturn, primarily attributed to external factors like global tea prices and currency strength, is temporary and cyclical rather than indicative of a permanent structural decline. This optimism could be fueled by expectations of a recovery in global tea prices, a potential weakening of the Kenya Shilling that would boost export revenues, or the anticipation of new strategic initiatives by the company not yet fully disclosed. Seasoned investors understand that commodity cycles are common, and a well-managed company can weather temporary storms. They might be betting on Kapchorua Tea’s long-term resilience and its ability to rebound once market conditions improve.
• Market Sentiment and Speculation: Stock rallies can frequently be fueled by positive market sentiment, often driven by a “herd mentality” or speculative buying. When a stock begins to show upward momentum, it can attract more buyers, creating a self-fulfilling prophecy, at least in the short term. This phenomenon is often observed where technical analysts, who focus on price charts, trading volumes, and historical patterns rather than financial reports, identify breakout signals. As the price climbs, it triggers further buy orders from algorithmic trading systems and momentum investors, creating a virtuous cycle of demand. Social media and financial news outlets can also amplify this sentiment, drawing in retail investors who might be less focused on deep fundamental analysis and more on immediate price movements.
• Scarcity and Liquidity: Kapchorua Tea, having been first listed on the NSE in 1972, is a relatively established but potentially smaller company in terms of its public float. A “free float” refers to the number of shares available for public trading, excluding those held by insiders or strategic investors. Lower liquidity, meaning fewer shares are actively traded, can sometimes lead to more volatile and exaggerated price movements. Even moderate buying pressure can significantly move the stock price upwards when there are limited sellers. This contrasts with highly liquid stocks where large orders can be absorbed without drastic price swings. This characteristic of Kapchorua’s stock might contribute to its sharp upward trajectory on relatively lower trading volumes compared to larger, more liquid counters on the NSE.
• Institutional Interest: A sudden surge in a stock’s price can also indicate renewed or increased interest from institutional investors. These might include pension funds, mutual funds, hedge funds, or investment banks. Institutional investors often have a longer-term investment horizon and specific mandates. For example, some funds might be mandated to invest in agricultural counters, dividend-paying stocks, or companies with strong ESG (Environmental, Social, and Governance) credentials. Even during a temporary dip in earnings, if institutional investors perceive long-term value, a strong dividend policy, or a strategic fit within their portfolio, they might initiate or increase their positions, contributing to significant price appreciation. Their entry can also signal confidence to retail investors, further fueling the rally.

The Influence of Corporate Actions: Dividends and Bonus Issues

Crucially, Kapchorua Tea’s board declared a KSh 25.00 per share final dividend, maintaining it unchanged from the previous year, despite the significant profit drop. This decision, while seemingly counter-intuitive given the reduced earnings, sends a powerful signal to the market. A consistent dividend payout, especially during challenging times, can be interpreted by investors as:

• Management Confidence and Stability: Maintaining a steady dividend, even when profits are halved, can be a strong indicator that the board and management have confidence in the company’s long-term viability and its ability to generate future profits. It suggests they believe the current downturn is a temporary, cyclical blip rather than a fundamental, structural problem. This commitment to dividends can provide a sense of stability and predictability in an otherwise volatile market. Companies that consistently pay dividends, even through economic cycles, are often seen as financially disciplined and shareholder-friendly.
• Reward for Loyal Shareholders: A consistent dividend payout rewards existing shareholders who have held the stock through various market conditions. For many investors, particularly retirees or those seeking income, dividends are a crucial component of their investment returns. Maintaining this income stream helps to retain these loyal shareholders and prevents a mass exodus, which could otherwise depress the stock price further. It reinforces the stock’s attractiveness as an income-generating asset, especially in an environment where other investment options might offer lower or more volatile returns.
• Commitment to Shareholder Returns: This action reinforces a commitment to shareholder returns, which can be particularly appealing to long-term investors and those seeking stable income streams. It signals that the company prioritizes returning value to its owners, even if it means a tighter financial squeeze in the short term. This commitment can enhance the company’s reputation in the investment community and attract new investors who value consistent payouts.

Furthermore, the board proposed a 1:1 bonus share issue, capitalizing KSh 39.12 million from reserves. A bonus issue, also known as a scrip issue or capitalization issue, involves issuing new shares to existing shareholders free of charge, in proportion to their current holdings. In a 1:1 bonus issue, a shareholder receives one new share for every share they currently own. While it doesn’t immediately increase the total value of a shareholder’s investment (as the share price typically adjusts downwards proportionally to reflect the increased number of shares), it offers several benefits:

• Increases Share Liquidity: By increasing the total number of shares outstanding, a bonus issue can make the stock more accessible and affordable to a wider range of investors, particularly retail investors who might be deterred by a high per-share price. This increased accessibility can potentially boost trading volumes and improve the stock’s overall liquidity in the market.
• Signals Growth Potential and Financial Health: A bonus issue is typically funded from a company’s accumulated profits or reserves. Therefore, issuing bonus shares can be seen as a signal of confidence from the company’s management in its future earnings and growth prospects. It suggests that the company has sufficient reserves to distribute to shareholders without impacting its core operations or future investment plans.
• Psychological Appeal: A lower per-share price after a bonus issue can make the stock appear more “affordable” or “cheaper” to retail investors, even though the overall market capitalization of the company remains the same. This psychological effect can attract new buyers who perceive the stock as a better value proposition at the adjusted price.

These corporate actions, particularly the maintained dividend and the bonus issue, might have acted as strong catalysts, overriding the negative sentiment from the profit warning and fueling investor optimism about the company’s future. They suggest a strategic long-term view by management, prioritizing shareholder loyalty and future growth over immediate profit fluctuations.

Decoding the Financial Downturn: The FY2025 Performance

Kapchorua Tea’s financial results for the year ending March 31, 2025, paint a clear picture of the challenges faced:

The primary drivers for the significant profit decline were explicitly linked by management to a global tea glut, falling international prices, and currency pressures from a stronger Kenya Shilling.

The Global Tea Glut and Falling Prices

A “tea glut” refers to an oversupply of tea in the global market, where production significantly exceeds demand. This imbalance inevitably leads to a downward pressure on prices, impacting the profitability of tea producers worldwide. Several interconnected factors can contribute to a global tea glut:

• Favorable Weather Conditions in Major Producing Regions: Tea is highly sensitive to weather. Major tea-producing nations like Kenya, India, Sri Lanka, China, Vietnam, and Bangladesh often experience synchronous favorable weather conditions (e.g., ample rainfall, optimal temperatures) that lead to bumper harvests. When multiple large producers have high yields simultaneously, the global supply surges, outstripping demand.
• Increased Cultivation and Productivity: Over the past few years, some countries have expanded their tea cultivation areas or adopted more productive farming techniques, leading to a gradual increase in overall global tea output. While beneficial for long-term supply, this can contribute to short-term gluts if demand doesn’t keep pace.
• Reduced Demand or Shifting Preferences: While global tea consumption remains robust, economic slowdowns in key importing markets (e.g., Europe, Pakistan, Egypt) can temper demand growth. Additionally, shifts in consumer preferences towards other beverages like coffee, specialty drinks, or even new tea varieties (e.g., green tea, herbal infusions) can impact demand for traditional black tea, which forms the bulk of Kenyan exports.
• Geopolitical Factors and Trade Disruptions: Unforeseen geopolitical events, trade disputes, or logistical challenges (e.g., shipping container shortages, port congestion) can sometimes disrupt supply chains, leading to localized gluts or difficulties in moving tea to market, further exacerbating price pressures.

For Kapchorua Tea, this global oversupply directly translated into a substantial 24% drop in its average tea price per kilogram, falling from KSh 299.88 in FY2024 to KSh 228.02 in FY2025. This significant reduction in selling price, coupled with a slight decrease in tea production (down 4.6% to 8.3 million kg), severely impacted the company’s top line and, more dramatically, its profitability. The Mombasa Tea Auction, a key benchmark for East African tea prices, would have reflected these downward trends, directly affecting the revenues of companies like Kapchorua. The auction operates on a weekly basis, and prices are determined by supply and demand dynamics, making producers highly susceptible to global market fluctuations.

The Impact of a Stronger Kenya Shilling

For an export-oriented company like Kapchorua Tea, which sells its produce predominantly in international markets, currency fluctuations play a critical role in profitability. Tea is typically sold in international currencies, primarily the US Dollar. When the Kenya Shilling strengthens against the US Dollar, the foreign currency earnings, when converted back into KSh, yield fewer shillings. This phenomenon, known as a “headwind” for exporters, effectively reduces their KSh revenue and profit margins, even if the dollar price of tea remains constant.

For example, if Kapchorua sells a kilogram of tea for $2.00:

• If the exchange rate is KSh 140 to $1, they receive KSh 280.
• If the Shilling strengthens to KSh 120 to $1, they only receive KSh 240 for the same $2.00 sale.

This demonstrates how a stronger local currency can significantly erode the KSh value of foreign currency earnings. The strengthening of the Kenya Shilling in the period leading up to March 2025, after a period of significant depreciation, would have substantially contributed to the profit decline. This strengthening was likely driven by a combination of factors, including:

• Improved Macroeconomic Stability: Positive economic indicators, such as reduced inflation or increased foreign direct investment, can boost confidence in the local currency.
• Government Policy and Central Bank Intervention: The Central Bank of Kenya (CBK) might have implemented policies to stabilize or strengthen the shilling, such as raising interest rates or intervening in the foreign exchange market.
• Increased Foreign Currency Inflows: Higher remittances from Kenyans abroad, increased tourism, or foreign aid/loans can increase the supply of foreign currency, strengthening the shilling.

This currency pressure, combined with falling global tea prices, created a powerful double whammy for Kapchorua Tea’s financial performance, making it challenging to maintain profitability despite relatively stable production volumes.

Operating Profit and Earnings Per Share Analysis

The 75% slump in operating profit is particularly concerning as it reflects a severe squeeze on the company’s core business profitability. Operating profit (or EBIT – Earnings Before Interest and Taxes) indicates how much profit a company makes from its primary operations before accounting for financing costs (interest) or taxes. Such a steep decline suggests that Kapchorua Tea’s revenues were barely covering its direct costs of production and administrative expenses. This indicates severe pressure on margins, likely due to the combination of lower selling prices and potentially rising input costs (e.g., fertilizers, labor, energy, transportation). The cost of inputs like fertilizer, which is often imported, can be influenced by global commodity prices and exchange rates, further compounding the challenges.

The earnings per share (EPS) declined from KSh 51.04 to KSh 23.16, a drop of 54.6%. EPS is a critical indicator of a company’s profitability on a per-share basis and is closely watched by investors as it directly impacts share valuation and dividend capacity. The significant decline directly reflects the reduced net profit.

The dividend cover, which measures how many times the company’s earnings can cover its dividend payout, plummeted from a healthy 2.04x in FY2024 to a precarious 0.93x in FY2025. A dividend cover below 1.0x means the company is paying out more in dividends than it earned in profit. While this demonstrates a strong commitment to shareholders, it is generally unsustainable in the long run without drawing from accumulated reserves or taking on additional debt. This underlines the board’s strong commitment to maintaining the dividend, even if it means a very tight financial squeeze in the short term, potentially signaling their belief in a swift recovery.

Kapchorua Tea: A Legacy Rooted in Nandi Hills

Kapchorua Tea Kenya Plc boasts a rich and enduring legacy in Kenya’s agricultural economy. Founded in 1869, it is one of the oldest tea companies in the region, predating Kenya’s independence in 1963. This long history intertwines with the development of the tea industry in East Africa, which was largely established during the British colonial era. The company operated for decades as Kapchorua Tea Company Limited before rebranding to Kapchorua Tea Kenya Plc in 2017, reflecting its public listing and modern corporate structure.

The company’s operations are deeply rooted in Nandi Hills, Kenya, a renowned tea-growing region nestled in the country’s picturesque Rift Valley. Nandi Hills is characterized by its high altitude (typically between 1,800 and 2,200 meters above sea level), fertile volcanic soils, and consistent, well-distributed rainfall throughout the year. These unique climatic and geographical conditions create ideal environments for cultivating high-quality tea, particularly the brisk, bright, and flavorful black teas for which Kenya is famous. The region’s cool climate and consistent moisture contribute to the slow growth of tea leaves, which enhances their flavor, aroma, and overall quality, making Nandi teas highly sought after in international markets.

Kapchorua Tea manages over 660 hectares of mature tea plantations and more than 30 hectares of immature fields, indicating ongoing investment in expanding its productive capacity and ensuring future yields. The tea production process is a meticulous journey from leaf to cup, involving several key stages:

1. Plucking: The labor-intensive process of harvesting the young, tender tea leaves (typically “two leaves and a bud”) by hand, which is crucial for quality.
2. Withering: The plucked leaves are spread out to air-dry, reducing their moisture content and making them pliable for subsequent processing.
3. Rolling: The withered leaves are gently rolled to break their cell walls, releasing enzymes and juices that are essential for the oxidation process.
4. Oxidation (Fermentation): This is a critical stage, particularly for black tea. The rolled leaves are exposed to air, allowing the enzymes to react with oxygen. This chemical reaction develops the tea’s characteristic color, aroma, and flavor. The duration of oxidation determines the tea type (e.g., black, oolong).
5. Drying: The oxidized leaves are passed through hot air dryers to stop the oxidation process and further reduce moisture content, preserving the tea and extending its shelf life.
6. Sorting and Grading: The dried tea is then sorted and graded by size and quality, resulting in various grades like Broken Pekoe (BP1), Fannings (PF1), and Dust (PD).

The company markets its teas primarily under the globally recognized Williamson Tea brand. This brand is known for its commitment to quality, ethical sourcing, and sustainable practices. Despite Kapchorua Tea’s smaller scale compared to its associate, Williamson Tea Kenya Plc, it consistently achieves higher average prices per kilogram. This reflects strong brand value and pricing power, likely due to:

• Premium Quality Focus: A dedicated focus on producing high-quality teas that command better prices in discerning markets.
• Niche Market Targeting: Potentially targeting specific premium segments or direct-to-consumer sales channels rather than solely relying on bulk commodity markets, which are more susceptible to price volatility.
• Sustainable and Ethical Practices: Consumers are increasingly willing to pay a premium for products that are ethically sourced, environmentally sustainable, and carry certifications like Rainforest Alliance or Fairtrade. Williamson Tea has a strong reputation in these areas, which adds value to Kapchorua’s produce.
• Effective Branding and Direct Sales: Strong branding and potentially more direct routes to market, reducing reliance on intermediaries and allowing the company to capture a larger share of the retail price.

Beyond tea, Kapchorua Tea also maintains interests in forestry. This diversification serves multiple strategic purposes:

• Sustainable Energy Source: Providing timber for fuel for tea processing factories, reducing reliance on external energy sources and promoting self-sufficiency and environmental stewardship.
• Carbon Sequestration and Environmental Credentials: Forests act as natural carbon sinks, contributing to the company’s environmental sustainability goals and potentially qualifying for carbon credits.
• Additional Revenue Stream: Timber sales can provide a supplementary income, diversifying the company’s revenue base beyond tea.
• Soil Conservation and Biodiversity: Forestry can contribute to soil health, prevent erosion, and support local biodiversity on the company’s land.

Ownership Structure: George Williamson & Co Plc

Kapchorua Tea Kenya Plc is ultimately owned by UK-based George Williamson & Co Plc. George Williamson & Co is a long-established British company with a significant history in the tea and coffee industries, particularly in East Africa. Their ownership provides Kapchorua Tea with several strategic advantages:

• Global Market Access and Distribution Networks: Leveraging George Williamson’s extensive international distribution networks, relationships with global buyers, and established presence in key tea-consuming markets. This is crucial for an export-oriented business.
• Expertise and Best Practices: Access to decades of experience in tea cultivation, processing, blending, and marketing, as well as modern management practices and technological advancements within the tea industry.
• Financial Stability and Capital Access: The backing of a larger, established parent company can provide financial stability, access to capital for investments in new machinery, expansion of plantations, or diversification efforts, and a buffer during challenging market conditions.
• Brand Synergy: Reinforcing the strength and reputation of the Williamson Tea brand globally, benefiting from a unified marketing and quality control strategy.

This ownership structure highlights the enduring ties between Kenyan agriculture and international markets, and how global players continue to invest in and benefit from Kenya’s rich agricultural resources, often bringing with them global standards and market reach.

The Broader Landscape of Kenya’s Tea Industry

Kenya is a powerhouse in the global tea industry. It consistently ranks among the top three or four largest tea producers worldwide and is the leading exporter of black tea globally. Tea is a critical cash crop for the Kenyan economy, contributing significantly to agricultural GDP, foreign exchange earnings, and providing livelihoods for millions of people, particularly smallholder farmers in rural areas. The industry plays a vital role in Kenya’s socio-economic fabric.

However, despite its global prominence, the sector faces a myriad of persistent challenges beyond the recent global glut and price fluctuations:

• Climate Change and Environmental Vulnerabilities: Erratic weather patterns, including prolonged droughts, unpredictable rainfall, and increased frequency of extreme weather events (e.g., floods), pose a significant threat to tea yields and quality. Tea bushes are sensitive to climatic conditions, and changes can lead to reduced output or increased susceptibility to pests and diseases. Climate change necessitates substantial investments in irrigation infrastructure, development of drought-resistant tea varieties, and adoption of climate-smart agricultural practices to ensure long-term sustainability.
• Rising Input Costs: The cost of essential agricultural inputs continues to climb, squeezing profit margins for tea producers. This includes the price of fertilizers (often linked to global oil and gas prices), pesticides, energy (for processing factories), and transportation. Labor costs, a significant component in the highly labor-intensive tea sector, are also subject to upward pressure due to inflation and wage negotiations.
• Labor Issues and Mechanization: The tea sector is highly labor-intensive, particularly for plucking. Issues related to fair wages, working conditions, and the potential for mechanization (which could displace a large workforce) are ongoing concerns. While mechanization can improve efficiency and reduce costs, it also presents socio-economic challenges for communities reliant on manual labor in tea estates. Balancing productivity gains with social responsibility remains a key challenge.
• Market Diversification and Value Addition: While Kenya is a major exporter of bulk tea, there is a growing emphasis on moving up the value chain through value addition. This involves processing tea into specialty blends, ready-to-drink beverages, tea extracts, or even nutraceuticals. By engaging in value addition, producers can capture a larger share of the final consumer price, reduce their exposure to volatile commodity prices, and create new revenue streams. This requires investment in processing technology, branding, and market research.
• Competition from Other Beverages and Health Trends: The global beverage market is highly competitive, with consumers having a wide array of choices beyond traditional hot tea. The rise of coffee culture, energy drinks, and various specialty beverages presents a challenge to tea’s market share. However, there’s also a growing global awareness of the health benefits of tea, which presents an opportunity for market expansion, particularly for green and specialty teas.
• Regulatory Environment and Governance: Government policies, such as the Tea Act of 2020, aim to reform the sector, improve governance, and ensure better returns for farmers. These reforms often seek to streamline the value chain, reduce exploitation, and enhance transparency in pricing and payments. While these legislative changes are intended to benefit the industry in the long run, their implementation can sometimes create short-term disruptions or resistance from various stakeholders. The Kenya Tea Development Agency (KTDA) plays a crucial role in supporting millions of smallholder tea farmers in Kenya, managing their factories and marketing their produce, though Kapchorua operates as a large-scale plantation.

Market Outlook and Future Prospects for Kapchorua Tea

Despite the recent profit slump, the market’s strong reaction to Kapchorua Tea’s shares suggests a forward-looking perspective, anticipating a turnaround or recognizing inherent strengths. The key questions for the future revolve around the persistence of the global tea glut, the trajectory of international tea prices, and the stability of the Kenya Shilling.

• Global Tea Market Dynamics: While gluts and price volatility are cyclical features of commodity markets, the long-term trend in global tea prices will depend on the delicate balance between supply growth and demand. Companies like Kapchorua will need to focus on enhancing operational efficiency, implementing stringent cost control measures, and consistently maintaining premium quality to navigate these market forces effectively. The increasing demand for specialty teas and ethically sourced products could offer a buffer against bulk commodity price swings.
• Currency Outlook: The Kenya Shilling’s strength has been a double-edged sword for exporters. Future movements in the exchange rate will significantly influence Kapchorua’s KSh-denominated earnings. A more stable or slightly depreciating Shilling could provide a tailwind, boosting the local currency value of their dollar earnings. The CBK’s monetary policy and Kenya’s overall economic performance will be key determinants.
• Strategic Initiatives and Brand Resilience: Kapchorua’s ability to maintain its higher average prices per kilogram, even during a downturn, underscores the inherent strength of the Williamson Tea brand. Continued investment in brand building, exploring new direct marketing channels (e.g., e-commerce, specialty retail), and developing new product lines (e.g., organic teas, unique blends, ready-to-drink options) could further insulate the company from commodity price volatility and open up new revenue streams. Diversification within the tea sector itself, by offering a wider range of tea types (e.g., green tea, white tea) could also be a strategy.
• Sustainability and ESG Integration: As global consumers and investors become more conscious of environmental and social impact, Kapchorua’s commitment to sustainable practices and its existing forestry interests could become increasingly important differentiators. Strong ESG credentials can attract a growing pool of socially responsible investors and command premium prices in certain markets. Investing in renewable energy for processing, water conservation, and fair labor practices will enhance its appeal.

The decision by the board to maintain the dividend and issue bonus shares, while potentially straining short-term cash flow, signals a long-term commitment to shareholder value. This could be interpreted as a strategic move to retain investor confidence during a challenging period, betting on a future recovery and the enduring strength of the company’s assets and brand.

Conclusion: A Resilient Agricultural Giant Navigating Stormy Waters

Kapchorua Tea Kenya Plc’s recent stock performance, soaring to new heights despite a significant profit decline, is a compelling narrative of market paradoxes. It highlights that stock prices are not solely dictated by immediate financial results but are also heavily influenced by future expectations, prevailing market sentiment, strategic corporate actions, and the company’s inherent long-term resilience.

While the confluence of a global tea glut, falling international prices, and a stronger Kenya Shilling has undoubtedly impacted Kapchorua’s profitability in FY2025, the company’s deep-rooted legacy, its strong brand value under Williamson Tea, the strategic ownership by UK-based George Williamson & Co Plc, and its proactive shareholder-friendly policies appear to have resonated positively with investors. These factors suggest a belief in the company’s ability to navigate current headwinds and emerge stronger.

As Kenya’s vital tea sector continues to navigate the complexities of global markets, climate change, and evolving consumer preferences, Kapchorua Tea’s ability to adapt, innovate, and maintain its premium positioning will be crucial for its sustained success. The coming years will reveal whether the market’s current optimism is a prescient forecast of a strong rebound or a temporary divergence from underlying fundamentals. For now, Kapchorua Tea stands as a fascinating case study of resilience and investor confidence in Kenya’s enduring agricultural backbone.

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photo source: Google

By: Montel Kamau

Serrari Financial Analyst

14th July, 2025