The Kenya Tea Development Agency (KTDA) has claimed that its Sh26 billion borrowing spree was triggered by a pile-up of unsold stocks due to a ban on direct tea sales by its factories and introduction of reserve prices.
The agency said it borrowed billions of shillings to pay tea farmers for their supplies after stock-ups of unsold products surged to 104 million kilogrammes last year, tripling foregone revenues for growers in three years.
