NAIROBI, Kenya, October 27 – Kenya Tea Development Agency Management Services Limited (KTDA-MS) has released a bonus (second payment to farmers) for the financial year ended June 30, 2021, amounting to Shs 21.57 billion.
In a statement, KTDA said the funds will reflect on farmers’ bank accounts by the end of this week.
The agency said the payment was released following the conclusion of a ten-day meeting by factory directors from the 54 KTDA-managed factories that were held from 20th September.
The meetings’ agenda included a review of the audited 12-month accounts of their factories and declaring the second payment rate.
KTDA Holdings Limited Chairman, David Ichoho, said that Sh600 per 50 kg bag of fertilizer will be reflected in the payment in a bid to pass on the Shs 1 billion fertilizer subsidy.
President Uhuru Kenyatta, during the Mashujaa Day celebrations, directed an allocation of Shs 1 billion by the National Treasury towards fertilizer subsidy for farmers.
He further said that the Board and Management are working in ensuring that the farmers get optimal benefit from the tea business, urging farmers to re-invest their net earnings in increasing farm production quality to make their business more sustainable.
“KTDA will continue working with the Government and other stakeholders in improving net earnings for the farmers,” Ichoho said.
The KTDA-managed factories are already enjoying higher tea prices at the auction following the introduction of the minimum reserve price. This is expected to translate to higher earnings next year.
