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Tea growers eye more cash in Sh150m auction automation
From left: Trade Mark East Africa CEO Frank Matsaert, East Africa Tea Trade Association (EATTA) managing director Edward Mudibo, Trade Mark country director Ahmed Farah and EATTA chairperson Nicholas Munyi during the signing of the deal in Nairobi on Dec 1, 2016. PHOTO | DIANA NGILA
The East African Tea Trade Association (EATTA) has signed a Sh150 million agreement with Trade Mark East Africa (TMEA) to automate tea trading at the Mombasa weekly auction.
The automation of the 60-year-old auction, expected to be complete within a year-and-a-half, will cost Sh151.1 million ($1.5 million) provided by TMEA.
