By John Kariuki
Kenya Tea Development Agency (KTDA) Holdings has hailed President William Ruto’s decision to release Sh2.65 billion to tea farmers, calling it a landmark step in safeguarding the welfare of growers.
Wilson Muthaura, Chief Executive Officer of KTDA Holdings, welcomed the President’s move, noting that the funds represent deposits that had been held under the defunct Chase and Imperial Banks through the Kenya Deposit Insurance Company. He emphasized that the payout will go a long way in cushioning smallholder farmers and strengthening confidence in the country’s tea industry.
“On behalf of our farmers, we thank President Ruto for this bold and decisive action. This release not only secures the hard-earned money of growers but also restores trust and stability in the financial systems that underpin our tea sector,” Muthaura said.
The CEO added that the payout will empower farmers to reinvest in production, improve livelihoods, and reinforce Kenya’s standing as a global leader in quality tea.
The announcement was made at State House, Nairobi, where tea sector stakeholders, including the Tea Board of Kenya, Ketepa Ltd, KTDA Foundation, Temec Ltd, Majani Insurance Brokers Ltd, the Agricultural Society of Kenya, and the East African Tea Trade Association, joined to witness the moment.
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