Tea farmers under Kenya Tea Development Agency (KTDA) managed factories will receive a record dividend payout to the tune of Ksh 1.04 billion, the agency has announced.
This follows better earnings by KTDA Holdings and its subsidiaries which include, KTDA MS, KTDA Power, Majani Insurance Brokers, Greenland Fedha, Chai Trading Company, TEMEC, Chai Logistics, and Ketepa.
According to the firm, this financial year also marked the highest amount of money paid to the tea farmers under KTDA management as they earned a whopping Ksh 89.21 billion compared to Ksh 68.22 billion last year.
“Our focus is to ensure that every decision and strategy we adopt directly benefits our farmers by increasing their earnings, reducing costs, and improving overall efficiency in the tea value chain where the farmers have invested,” said Enos Njeru, KTDA Holdings National Chairman.
The dividend is expected to be paid to farmers who are part of 54 factories with shareholding in the firm as KTDA targets to leverage technology to enhance efficiency and improve earnings.
“As management, we are working with factories to increase efficiency and diversify our products. In the wake of climate change, we are also looking to introduce high-yielding teas to ensure that tea production remains sustainable,” added Wilson Muthaura, KTDA Chief Executive Officer.