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Tea farmers risk losing Sh3b with Imperial Bank collapse

Tea farmers are at the risk of losing close to Sh3 billion that a tea agency had deposited in a fixed deposit account at the now-closed Imperial Bank.

The Senate was yesterday told that by the time Imperial Bank was placed under receivership, Kenya Tea Development Agency (KTDA) had invested Sh2, 926,365,091 in a fixed deposit account, deposited in four tranches from May to the end of September 2015.

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