@BusinessDaily

Team to help finance small firms’ tea exports formed

7 months ago, 10 Jan 18:09

By: Gerald Andae

The Tea Directorate has formed a task force to spearhead value addition and finance Small and Medium Enterprises (SMEs) to enable them get direct access to export market. The Committee on Establishment of a Common User Blending and Packaging Facility (CUF) formed in November last year is expected to hand in its report after three months. The facility will help SMEs that do not have the financial muscle to put up their own plant access a common user unit to enable them blend and package tea for export. “The establishment of a common user facility will help in boosting international trade and help small-scale tea traders to carry out value addition on their merchandise,” said Edward Mudibo, the chairman of the committee. The core mandate of the committee is to actualise the tea industry task force report of 2016 that called for speedy implementation of the common-user facility to support SMEs in value addition. “We shall review the proposal for establishing the CUF and make practical recommendation on the implementation framework as part of our terms of reference,” he said.    Other tasks include determining a suitable funding model for the CUF, propose incentives that can attract youth to engage in value addition and suggest the location and management structures for the CUF. Currently, multinationals with financial muscle export up to 90 per cent of the total tea volumes produced in the country while the small traders only manage to sell the remaining 10 per cent outside the country. Last year, the directorate signed a memorandum of understanding with Export promotion Council (EPC) to give SMEs expert coaching on accessing the export markets and build their capacity and knowledge on making international enquiries from overseas customers. The country exports bulk tea to Egypt, UK, Pakistan, Afghanistan, Iran, Sudan, Yemen and U.A.E. The Tea Directorate is currently scouting for new markets.
Read More


Category: business news corporate lifestyle economy opinion markets

Suggested

2 hours ago, 23:41
@BusinessDaily - By: Sam Kiplagat
Court reverses KQ staff rehiring order

Judges say decision to reinstate 115 engineers and technicians was without merit ...

Category: business markets news opinion corporate lifestyle
3 hours ago, 22:55
@BusinessDaily - By: James Ngunjiri
Investors cagey on bonds as they await rate cap decision

This is the second bond issuance in the current financial year. ...

Category: business news opinion corporate
9 hours ago, 16:57
@DailyNation -
M-Pesa puts Safaricom on Fortune’s ‘Change the World’ firms listing

Safaricom is the second firm in the telecoms industry to feature on the top 50 list. ...

Category: topnews news business
6 hours ago, 20:06
@AfricaNews - By: Africanews
Zimbabwe says Western hostility is deterring investors | Africanews

Mnangagwa’s victory is being challenged in Zimbabwe’s constitutional court this week by opposition leader Nelson Chamisa. Chamisa says the electoral commission rigged the vote. The commission has ...

Category: africa africa_business business news topnews
9 hours ago, 16:34
@BusinessDaily - By: Benson Amadala   
Nine model schools for science receive robotic teaching kits

Twenty-seven teachers from the schools in Kakamega, Vihiga, Bungoma and Busia attended a week-long training at the Sacred Heart Mukumu Girls Secondary in Kakamega County. ...

Category: business corporate news opinion economy lifestyle
3 hours ago, 22:46
@BusinessDaily - By: Patrick Alushula
Kestrel Capital profit rises on higher fees

The firm booked a 17.6 per cent rise in net profit to Sh32.8 million. ...

Category: business news

@BusinessDaily

Team to help finance small firms’ tea exports formed

7 months ago, 10 Jan 18:09

By: Gerald Andae
The Tea Directorate has formed a task force to spearhead value addition and finance Small and Medium Enterprises (SMEs) to enable them get direct access to export market. The Committee on Establishment of a Common User Blending and Packaging Facility (CUF) formed in November last year is expected to hand in its report after three months. The facility will help SMEs that do not have the financial muscle to put up their own plant access a common user unit to enable them blend and package tea for export. “The establishment of a common user facility will help in boosting international trade and help small-scale tea traders to carry out value addition on their merchandise,” said Edward Mudibo, the chairman of the committee. The core mandate of the committee is to actualise the tea industry task force report of 2016 that called for speedy implementation of the common-user facility to support SMEs in value addition. “We shall review the proposal for establishing the CUF and make practical recommendation on the implementation framework as part of our terms of reference,” he said.    Other tasks include determining a suitable funding model for the CUF, propose incentives that can attract youth to engage in value addition and suggest the location and management structures for the CUF. Currently, multinationals with financial muscle export up to 90 per cent of the total tea volumes produced in the country while the small traders only manage to sell the remaining 10 per cent outside the country. Last year, the directorate signed a memorandum of understanding with Export promotion Council (EPC) to give SMEs expert coaching on accessing the export markets and build their capacity and knowledge on making international enquiries from overseas customers. The country exports bulk tea to Egypt, UK, Pakistan, Afghanistan, Iran, Sudan, Yemen and U.A.E. The Tea Directorate is currently scouting for new markets.
Read More

Category: business news corporate lifestyle economy opinion markets

Suggested

2 hours ago, 23:41
@BusinessDaily - By: Sam Kiplagat
Court reverses KQ staff rehiring order

Judges say decision to reinstate 115 engineers and technicians was without merit ...

Category: business markets news opinion corporate lifestyle
3 hours ago, 22:55
@BusinessDaily - By: James Ngunjiri
Investors cagey on bonds as they await rate cap decision

This is the second bond issuance in the current financial year. ...

Category: business news opinion corporate
9 hours ago, 16:57
@DailyNation -
M-Pesa puts Safaricom on Fortune’s ‘Change the World’ firms listing

Safaricom is the second firm in the telecoms industry to feature on the top 50 list. ...

Category: topnews news business
6 hours ago, 20:06
@AfricaNews - By: Africanews
Zimbabwe says Western hostility is deterring investors | Africanews

Mnangagwa’s victory is being challenged in Zimbabwe’s constitutional court this week by opposition leader Nelson Chamisa. Chamisa says the electoral commission rigged the vote. The commission has ...

Category: africa africa_business business news topnews
9 hours ago, 16:34
@BusinessDaily - By: Benson Amadala   
Nine model schools for science receive robotic teaching kits

Twenty-seven teachers from the schools in Kakamega, Vihiga, Bungoma and Busia attended a week-long training at the Sacred Heart Mukumu Girls Secondary in Kakamega County. ...

Category: business corporate news opinion economy lifestyle
3 hours ago, 22:46
@BusinessDaily - By: Patrick Alushula
Kestrel Capital profit rises on higher fees

The firm booked a 17.6 per cent rise in net profit to Sh32.8 million. ...

Category: business news
Our App