How Sri Lanka’s Browns beat Sasini to Lipton Tea Kenya deal
A tea estate. There have been reports of serious human rights violations allegedly committed by some businesses, especially in the agricultural sector.
Sri Lanka’s Browns Investment Plc dangled a “community development and empowerment” card in the battle for Lipton Tea assets in Kenya, helping the multinational firm to beat Sasini to the deal that would hand it control of 20 percent of the country’s tea industry.
Sources said Browns’ pitch for the Lipton assets heavily centred on community welfare including a discounted 15 percent stake for the local community in Kericho and Bomet where the estates are situated, community development support, guaranteed annual dividend payouts, and skills development for employment eyeing youths—winning it the backing of President William Ruto’s government.
“The community empowerment and jobs skilling proposals carried the day for Browns. The Government of Kenya bought their ideas and even helped to identify the opportunities that communities would reap including the development of schools and hospitals and job training. Sasini had no chance against Browns following the government backing” a source close to the transaction said without disclosing the value of the deal.
