Processor of Kenya’s premium tea brand Kericho Gold gets backing from European financiers Si, IFU, Proparco

KENYA – Global Tea & Commodities, one of the fastest growing and fully integrated tea, coffee and macadamia producing companies with operations in Kenya and Malawi, is set to receive growth capital from three European financiers. The three firms – French development finance institution Proparco, Danish sustainable investment fund IFU and London based investment and advisory firm Si Advisers LLP, have inked a financing agreement with the packer of premier tea brands, Kericho Gold and Baraka Chai. Global Tea founded in 1992, trades in Kenya through its subsidiary Gold Crown…

Read More

Smallholder tea farmers to get direct ownership of Kenya Tea Development Agency Holdings

KENYA – Individual smallholder tea farmers affiliated with the Kenya Tea Development Agency Holdings PLC (KTDA Holdings PLC) will now own direct shareholding of the company alongside their respective 54 tea factory companies, further cementing their ownership and proprietorship in the organisation. This comes after KTDA shareholders amended the company’s Articles of Association to enable the allotment of the company’s shares to individual farmers under a new category of shareholders known as “Tea Farmers.” Each of the 54 Tea Factory Companies, through their respective portions of their 5 million bonus…

Read More

Kenyan firm Sasini bounces back to profitability despite decline in half year revenue

KENYA – Sasini, a Kenyan agricultural firm that produces and exports tea, coffee, macadamia and avocado has bounced back to profitability, posting a net profit of Ksh.122million (US$1.13m) in half-year period ended March 31 2021, a recovery from a Ksh13 million (US$121,000) loss attained in the same period last year. The firm, according to reports by Citizen Kenya, attributes the improved performance to gains from non-sales income, with the group ‘s operating activities yielding in gains of Ksh.177.9 million (US$1.66m) from a loss of Ksh.7.3 million (US$68,000) previously. The growth…

Read More

Kenya Tea Development Agency seeks to power its factories using solar energy

KENYA – Kenya Tea Development Agency (KTDA) is the latest firm in Kenya seeking to generate its own power using renewable energy. The tea producer and processor, through its wholly-owned subsidiary KTDA Power Company (KTPC) Ltd has launched a tender seeking independent power producers (IPPs) for the construction of a series of small-sized solar parks. The projects are expected to have a capacity ranging from 300kW to 1MW and are intended at powering KTDA’s 29 factories and about half of the 68 facilities it manages, located across Kenya, cutting its…

Read More

Tanzania’s tea production to rise by 40% in 2020/21 season as it targets 60,000 tonnes in 2024/25

TANZANIA – Tanzania expects tea production to rise by over 40% to 40,000 tonnes in the 2020/21 season, boosted by good weather conditions. This was revealed by the Tea Board of Tanzania (TBT) who indicated that the rise will be an improvement from the previous season’s 28,000 tonnes which was 20% short of the period’s target of 38,000 tonnes. The 2019/20 tea production was also a decline from 2018/19’s 37,000 tonnes which had surpassed its target of 35,000 tonnes of tea. Tea being one of the country’s main cash crops,…

Read More

Celestial Seasonings launches new products to stimulate tea consumption in US

US — Celestial Seasonings, the specialty tea brand and subsidiary of Hain Celestial Group has introduced a number of new tea products in an effort to make tea more appealing to a wider range of US beverage consumers. Most of the new products introduced by Celeastian Seasonings fall under the TeaWell line which is comprised of organic wellness teas that couples daily health benefits with delicious flavor. The teas include; Mood Tonic, Sleep (the first tea with melatonin sold in the U.S.), Laxative and Gut Health (featuring a blend of…

Read More

Rwanda’s agricultural exports in second quarter register mixed bag of performance, overall declining by 5.5%

RWANDA – Rwanda earned US$419.1 million from agricultural exports in the 2019/20 fiscal year, 10% down from US$465.4 million recorded in 2018/19. The decline, according to National Agricultural Export Development Board (NAEB), is attributed to the reduction of cross border trade due to Covid-19 impact including the lockdown measures put in place. Meanwhile, the country’s agriculture exports in the second quarter of 2020/21 ended December fetched US$113.9 million a 5.5% decline from US$120.6 million registered in the same period last year. According to the data from NAEB, export revenues from…

Read More

India Tea Traders Association raises concerns over implementation of online auction system

INDIA – The Federation of All India Tea Traders Association (FAITTA), the apex body of tea trade in the country, has raised concerns over the implementation of the online auction system that is set to be rolled out in all of India’s auction centers. FAITTA in a statement said that the public auction system could have serious ramifications for the trade and urged the Tea Board to undertake a thorough evaluation of the e-auction process before rolling out the public auction system. The tea trade had migrated from a manual…

Read More

Kenya enacts new tea regulation bill as agency declares US$6.73m dividend for tea farmers

KENYA – The push for reforms in Kenya’s tea sector culminated in the signing into law of a new bill by President Uhuru Kenyatta, bringing hope for thousands of farmers who have for a long time complained mismanagement of their beloved crop. One of the major highlights of the new law is the creation of the Tea Board of Kenya and the revival of the Tea Research Institute. This could mean that proper funding can be sourced for the sector to assist farmers and also to boost research on new…

Read More

Unilever takes part in expansion of US$20m greenfield tea project in Rwanda

RWANDA – The Government of Rwanda has partnered with Unilever Tea Rwanda and The Wood Foundation Africa (TWFA) to commence the second phase of the Nyaruguru tea project in the Southern province of the country, injecting US$20 million in the developmental initiative. This comes after the successful completion of the first phase of the project which broke ground in 2017 and consisted of a 3,400-hectare smallholder catchment, supported by a dedicated farmer services company which operates an 800-hectare commercial plantation feeding the processing factory operated by Unilever Tea Rwanda. According…

Read More