The Kenyan-based company Global Tea & Commodities has obtained a USD4.0 million loan from the International Finance Corporation (IFC), World Bank group, to expand its macadamia and coffee production in Malawi.

The company will plant more macadamia trees and replant existing coffee plantations, using modern irrigation techniques to reduce water consumption. In addition, IFC is analyzing another USD4.0 million loan to extend its processing plant in Kenya.

Global Tea is one of the largest macadamia producers in Kenya, exporting to multinational corporations such as Intersnack.

“By investing in companies like Global Tea, IFC supports African branded products and supports livelihoods for local farmers. We are advising Global Tea on sustainable agricultural practices, which should boost sustainable production of commodities in Malawi,” Mary Jean Moyo of IFC noted.

Extracted from Agribusiness Intelligence