Agriculture CS Munya mulls dissolving KTDA subsidiaries
Kenya Tea Development Agency (KTDA) Holdings subsidiary affiliates might be dissolved to fit the new policy reforms for the agency.
Speaking at an induction ceremony for the agency’s new board at a Nairobi hotel yesterday, Agriculture Cabinet Secretary Peter Munya urged the new KTDA Holdings board to refocus respective subsidiaries towards serving farmers’ interests and delivering value to shareholders.
“This may include rethinking the existence and value of some of the subsidiaries,” Munya said.
The CS accused the agency two months ago Munya, saying it had transformed itself from being a managing agent, employed by the factory companies into the principal owner of the factories limited companies, through its managing agency outfit, the KTDA (MS) Ltd.
Since its establishment 21 years ago, the firm has established various subsidiaries including KTDA Management services, KTDA Power, KETEPA, Chai Trading, Majani Insurance Brokers, Tea Machinery and engineering company and KTDA Foundation.
Reform and transform
“As you assume office, it is important for you to recognize that you are taking up your responsibilities on the platform of reform and transformation, amidst high expectations from the shareholders and farmers who for a long time have suffered in the hands of poor leadership.
The most important responsibility that you have is to restore the original mandate of KTDA Holdings Ltd, which is executed through the KTDA Management Services Ltd,” added Munya.
“The government will continue facilitating policy support as well as the promotion and marketing strategy through the Tea Board of Kenya.
However, Government support will only make sense if KTDA Holdings Ltd, which has the mandate of managing tea for the smallholder sub-sector plays its part,” he said.
