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KTDA, StanChart in Sh3.5b finance deal

KTDA Group CEO, Lerionka Tiampati (centre) exchanges documents with Standard Chartered Bank CEO, Kariuki Ngari, upon signing of the agreement in Nairobi today. Looking on is KTDA Finance Director, Benson Ngari. (Standard)

Kenya Tea Development Agency (KTDA) yesterday signed a Sh3.5 billion financing deal with Standard Chartered Bank Kenya for the purchase of fertiliser, in what is a big win for over 650,000 farmers.

The deal will see KTDA supply the tea farmers spread across the country with 95,000 tonnes of fertiliser to boost yields at a time when global prices of the commodity are plummeting.

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