NBK-backed Sireet Tea Factory Begins Operations

NBK-backed Sireet Tea Factory Begins Operations

Tea farming in Nandi County has received a boost following the commissioning of the Sireet Tea Factory, which is owned by smallholder farmers.

Construction of the factory that is located in Kamarich, was fully financed by National Bank of Kenya (NBK). It has injected an additional daily processing capacity of 5million kilogrammes of green leaf annually, to meet growing demand from increasing acreage of tea planted in the area.

The new factory is owned by Sireet Outgrowers Empowerment and Producer (OEP) Company that has 6235 members, drawn from amongst small-scale farmers. It is the second factory owned by the firm that also runs another two-line one that can process 98,000 kilogrammes of green leaf daily.

NBK’s Board Chair, John Nyerere said: “We are excited to be part of the transformational journey of Sireet. It is a demonstration of the huge strength in unity. It shows the huge potential that can be unlocked when investors come together, with a common purpose, and receive the right backing”.

Tea is the main cash crop grown in Nandi County. Formed in 2005, Sireet Outgrowers Empowerment and Producer Company owns a 7,000-acre tea estate. It employs 240 people, besides owning commercial forests, and running Sireet OEP Guesthouse, a school, dispensary and staff housing in the area.

The Chairman of Siret OEP Mr Wilson Tuei said: “The commissioning of this new factory is a huge milestone. It significantly enhances our ability to produce quality tea products for the whole world. We are grateful for the great support from NBK that has helped make this a reality. Besides adding capacity to process our members’ produce, this also will also create wealth and job opportunities”.

Ends….

About National Bank of Kenya

National Bank of Kenya is a fully-fledged Commercial Bank and is a subsidiary of KCB Group Plc. Established in 1968 to boost Kenyans’ access to finance, it has grown to be one of the largest commercial banks in the country with a growing network of 85 branch outlets across the country, over 1500 ATMs and electronic channels of Mobile and Internet Banking. In September 2019, the Bank became a subsidiary of KCB Group Plc following a successful acquisition. National Bank participates in Corporate Banking, Business Banking, Retail Banking and Islamic Banking with an extensive portfolio of products and financial solutions tailored for the requirements of a broad spectrum of customer segments it serves. For more information, please contact: www.nationalbank.co.ke.

In case of any queries/clarification, please contact Judith Sidi Odhiambo – KCB Group Head of Corporate & Regulatory Affairs; email: jsodhiambo@kcbgroup.com

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