As Kenya Tea Development Agency (KTDA) moves to disburse 2023 tea bonuses from the month of October, Theta and Ndarugo tea farmers in Gatundu South will smile to the bank after the agency increased their earnings by Sh7 per kilo.

Unlike last year when the farmers took home Sh35 per kilogramme, farmers from Zone One will now earn Sh42 per kilogramme.

The announcement was made by Theta Tea Factory board of management who cited the increased pay to farmers as a big win especially coming from a prolonged drought season that had a negative impact on tea production.

Led by Gatundu South MP Gabriel Kagombe who is a member of Zone One KTDA board of management, the officials attributed the significant rise in farmers pay to effective tea reforms that have sealed all loopholes that cartels have been using to siphon the farmers’ sweat.

Kagombe expressed optimism that with continuous monitoring of the tea sub-sector by the government and access to new markets, farmers are about to have good returns in the upcoming seasons.

Elsewhere,

Old Mutual Kenya has opened a second full-suite branch in Mombasa to provide clients with a comprehensive range of financial services, including insurance, savings, and investment solutions, all in one location.

This move represents a shift in the company’s approach, emphasising a customer-need-centric strategy rather than simply selling financial products.

During the branch’s launch, Old Mutual East Africa Group CEO Arthur Oginga highlighted the company’s commitment to improving customer experiences by offering holistic financial services tailored to the diverse and evolving needs of individuals, families, and businesses.

He also noted that while the company had experienced growth by selling individual financial products, it was essential to adapt to changing market trends.

“We are aiming to empower our customers with a wide array of financial tools, advice, and resources that help them achieve their short-term goals and secure their long-term financial well-being,” said Oginga. Old Mutual previously opened a similar outlet along Kimathi Street in Nairobi, merging two branches to create a one-stop shop for its customers.

Old Mutual’s rebranding from UAP Old Mutual Group to Old Mutual reflects the company’s confidence in its future in Kenya and its commitment to unlocking more opportunities and value for its customers, communities, and stakeholders.

The company, as an integrated brand across East Africa, is focused on building its long-term savings, protection, investment, and lending businesses in the rapidly growing East African region, which is emerging as a key regional investment and business hub.