× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Mombasa tea auction set for automation

By Reuters | Jan 21st 2016 | 1 min read
By Reuters | January 21st 2016

The country will this year begin to automate trading at its weekly tea auction of regional produce to increase transparency in dealings, the chairman of the East African Tea Traders Association (EATTA), which runs the sale, said yesterday.

Kenya's hosts the world's biggest tea auction, selling produce from nine African nations, including from Burundi, Rwanda, Uganda, Malawi and Mozambique. Ethiopia is due to join in March. The country, which is the world's top producer of black tea, earns about $1 billion a year from exports, according to EATTA, making it one of the nation's main sources of foreign exchange earnings.

Complete automation of the auction would be completed in 2017 but the first phase would be in place this year, EATTA Chairman Nick Munyi said. "We are changing from the normal way of knocking the hammer to clicking the mouse," Munyi said by phone from the port city of Mombasa, where the 60-year old auction is based.

Share this story
Support manufacturing sector, State told
The Kenya Association of Manufacturers (KAM) is concerned that growth in manufacturing in the country is being stifled.
China rejected Kenya's request for Sh32.8b debt moratorium
China is Kenya’s largest bilateral lender with an outstanding debt of Sh692 billion.