Nairobi — The parent company of Kericho Gold and Bahari Chai, Global Teas and Commodities has received Sh400 million from the World Bank, through the International Finance Corporation, to expand to Malawi.
In a statement, IFC says the facility will help to boost Macadamia and Coffee production which will be done through planting more macadamia trees, replanting existing coffee plantations.
It will also involve developing a coffee out-grower program to support 3,300 smallholder farmers.
The financing will also benefit local farmers in Malawi and also support Global Tea's processing operations.
Global Teas and Commodities has sales in excess of $130 million, handling over 55 million kilos of tea annually.
It currently employs over 10,400 people worldwide and is the United Kingdom's largest independent tea company.