Equity Bank has set its sights on transforming the fortunes of South Rift tea farmers by taking their tea straight to Europe’s premium shelves.
During a customer engagement tour in Kericho and Bomet, Equity Bank Kenya Managing Director Moses Nyabanda said the bank is tired of seeing farmers trapped by low auction prices of about $2.30 per kilogram.
Instead, Equity wants farmers to embrace value addition, specialty orthodox teas, and origin branding that international buyers pay heavily for.The lender is using its Murang’a success as a blueprint.
Through an Africa Forward Summit deal, Equity linked Gatanga Industries to French specialty house Palais des Thés.That Murang’a purple tea is now retailing in Paris.
It debuted at the prestigious Hotel de Crillon in June, and chefs from the Elysee Palace even used it to make infused dark chocolate for the G7 Summit earning farmers ten times more than the auction.
Nyabanda, who toured Ndarawetta Tea Factory in Bomet and Ernestea Factory in Kericho, said Bomet and Kericho have the altitude and flavour profile to build their own identity.
For Equity, the mission is clear to stop exporting raw bulk, start exporting a brand.
