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  • Kenya smallholder tea farmers earn Sh63.6 billion from tea exports

  • Forex 31.07.2015

  • Forex 30.07.2015

  • Forex 29.07.2015

  • Forex 28.07.2015

 

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.A worker in one of the tea factories that caters for smallholder tea farmers in KenyaA worker in one of the tea factories that caters for smallholder tea farmers in Kenya

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.

Kenya gets Sh6.1 billion to improve the water sector and climate programmes

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.

More Kenyans to access electricity as World Bank gives Sh41 billion

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.Access to electricity is still a big challenge especially in the rural areasAccess to electricity is still a big challenge especially in the rural areas

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 prosperitysays Diarietou Gaye, World Bank Country Director for Kenya.

World Bank President Jim Yong Kim and UN Chief Ban Ki-moon visits Kenya next week

 

By Agencies

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. UN Secretary General Ban Ki-moon is expected to boost on going peace efforts in South SudanUN Secretary General Ban Ki-moon is expected to boost on going peace efforts in South Sudan

 

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.

Central Bank Governor Professor Njuguna Ndung’u honoured in Washington

By Agencies

The Central Bank of Kenya Governor Prof Njuguna Ndung’u has been named the central bank governor of the year, Sub-Saharan African 2014.CBK governor Prof Njuguna Ndung'u voted the best in sub-Saharan AfricaCBK governor Prof Njuguna Ndung'u voted the best in sub-Saharan Africa

The award by Emerging Markets (EM) Magazine is given each year, in recognition of the achievements of leading policy makers in emerging markets.

Kenya economy to record higher growth, says IMF

By IMF Staff

Rising domestic and foreign investment are set to boost economic activity in Kenya. All sectors except agriculture likely to record improvement this yearAll sectors except agriculture likely to record improvement this year

This as the central African country reaps rewards of extensive institutional reforms and prudent macroeconomic policy, the IMF staff said.

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