Kenya smallholder tea farmers earn Sh63.6 billion from tea exports
By TF News reporter
The Kenya Tea Development Agency Holdings Limited (KTDA), has announced Sh63.6 billion in farmers’ earnings for the 2014-2015 financial year, which represents a 21 per cent jump from the Sh52.6 billion earned in the 2013 – 2014 financial year.
Of the Sh63.6 billion, Sh43.25 billion will be paid out to smallholder tea farmers as bonuses later next month as Sh14.55 billion has already been paid out monthly to farmers as initial payment, based on monthly green leaf deliveries to factories, at the rate of Sh14 per kilo of green leaf.
By TF News Reporter
The World Bank Group has approved US$61.5 million to enable Kenya to improve water security and climate resilience for beneficiaries in the western and coast regions.
The Bank’s Executive Board of Directors today approved US$58 million International Development Association (IDA) credit additional financing for restructuring of the Kenya Water Security and Climate Resilience Project, which was approved in June 2013 with a credit of $155 million.
By TF News Reporter
Over 630,000 Kenyans will benefit from access to electricity after the World Bank gave Sh41 billion ($457.5 million) to support the energy sector including the Kenya Power and Lighting Company (KPLC.
According toe the bank, the money will support existing consumers to enjoy better quality of electricity services while KPLC that distributes power will be financially stronger.
“We are making this significant and innovative investment in Kenya’s power sector to expand electricity access to low income households and small businesses as part of the nation’s push for shared prosperity” says Diarietou Gaye, World Bank Country Director for Kenya.
World Bank President Jim Yong Kim and UN Secretary General Ban Ki-moon arrives in Nairobi next week to strengthen cooperation for peace, security and development in the Horn of Africa.
The two who arrives on Tuesday will meet President Uhuru Kenyatta and later meet with private sector representatives to discuss regional integration and economic opportunities for countries in the Horn.
Kim visits Kenya at a time when Kenyans are optimistic about prospects for better growth and equity driven by devolution and discovery of petroleum resources.
The Central Bank of Kenya Governor Prof Njuguna Ndung’u has been named the central bank governor of the year, Sub-Saharan African 2014.
The award by Emerging Markets (EM) Magazine is given each year, in recognition of the achievements of leading policy makers in emerging markets.