Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Agriculture

Kericho Tea parent company gets Sh400m to expand to Malawi

The financing will also involve developing a coffee out-grower program to support 3,300 smallholder farmers./FILE

NAIROBI, Kenya, Jul 16 – The parent company of Kericho Gold and Bahari Chai, Global Teas and Commodities has received Sh400 million from the World Bank, through the International Finance Corporation, to expand to Malawi.

In a statement, IFC says the facility will help to boost Macadamia and Coffee production which will be done through planting more macadamia trees, replanting existing coffee plantations.

It will also involve developing a coffee out-grower program to support 3,300 smallholder farmers.

The financing will also benefit local farmers in Malawi and also support Global Tea’s processing operations.
Global Teas and Commodities has sales in excess of $130 million, handling over 55 million kilos of tea annually.

It currently employs over 10,400 people worldwide and is the United Kingdom’s largest independent tea company.

The company also owns quality brands of tea, coffee, Dairy and Confectionary products– Brooke Bond ‘D’, Brooke Bond, Choicest, Red Mountain Coffee, Jewels, Mama’s Choice and The London Tea & Produce Co.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...