Olam International prices US$120 million US debt private placement

SINGAPORE – Olam International has announced that its wholly-owned subsidiary Olam Americas Inc. (“OAI”) has successfully priced a US$120 million issuance of 5-year fixed rate notes via a private placement. According to the company, proceeds from the issue of the Notes will be used by OAI and its US affiliates for repayment of existing debt…

Kenyan tea agency secures US$10m credit facility to improve trading operations

KENYA – The Kenya Tea Development Agency Holdings (KTDA) has secured a US$10 million (Sh1 billion) credit facility from the International Finance Corporation (IFC) to help the agricultural firm improve its tea trading operations. The funds will form part of KTDA’s planned total investment of US$17.7 million (Sh1.7 billion) aimed at upgrading its warehouses and…

Tea Board of India calls for compliance with safety standards to boost quality

INDIA - The Tea Board of India has directed all tea manufacturing units to comply with norms stipulated by the Food Safety and Standards Authority of India (FSSAI) in a bid to boost tea quality. The state agency has called on the manufacturers to get their end product tested in NABL-accredited labs (the National Accreditation…

Unilever Tea commissions US$21.5m tea processing plant in Tanzania

TANZANIA - Unilever Tea Tanzania Limited (UTT), has commissioned a US$21.5 million (Tzs 49.6 billion) state-of-the-art tea processing plant as it counties to make inroads in the sector. The modern facility has a capacity of processing 50 tonnes of green tea per day. Speaking during the launch,President John Magufuli hailed the investment by the firm…

UK investor to establish US$2.97m tea processing factory in Kenya

KENYA – Tea farmers in the western region of Kenya are set to benefit from a US$2.97million (Shs 300 million) state-of-the-art tea processing factory from a United Kingdom-based investor in a move to rejuvenate the tea sector in the region. The tea factory will be the second in the western region in addition to Mudete…

South Africa’s rooibos tea research gets financial boost to promote medical research

SOUTH AFRICA – The South African Rooibos Council (SARC) will be investing R4.5 million (US$317, 515) in rooibos tea in efforts to identify the potential of the indigenous tea in the prevention of diseases risk factors. According to a report by Business Day, the three year research running from 2019-2022 will focus on reduction of…

Sudan grants Kenyan tea one-year extension ahead of new pact on standards

SUDAN – Sudan, one of the major buyers of Kenyan tea, has once again granted Kenya a one year extension to for Kenyan tea access to the Sudanese market without restrictions as the two country’s continue to address issues of quality. According to a report by Business Daily, the extension follows the lapse of the…

Kenyan tea agency mulls investing in paper manufacturing factory

KENYA – The Kenya Tea Development Agency (KTDA) has unveiled plans of investing in a paper manufacturing plant as part of efforts to grow its revenue. Founded in 2000, KTDA’s core business has been providing comprehensive services to more than 560,000 small tea farmers through processing, marketing as well as providing agri-extension services through 66 tea factories across…

Kenyan tea agency, traders lobby for reconstitution of the Tea Board of Kenya

KENYA – The Kenya Tea Development Agency (KTDA), and tea traders in the country are pushing for the reconstitution of Tea Board of Kenya scrapped in 2014. According to a report by Business Daily, the Managing director KTDA, Lerionka Tiampati, is seeking for the reconstitution of the board into the sector as an independent entity…

Nestle’s Special T join forces with French tea brand to launch new tea capsules

EUROPE – Nestle’s premium-portioned capsule tea system Special.T has partnered with Paris-based tea brand, Kusmi Tea to launch a new range of jointly created tea capsules in Europe and other markets. The partnership combines Special T system’s advanced technology with Kusmi’s strength in distribution and tea merchandising. Available in Europe via special-t.com and kusmitea.com beginning…