Ruto hands over Sh2.6bn to tea farmers hit by bank collapses
NAIROBI, Kenya, Sept 11 - President William Ruto has handed over to the Kenya Tea Development Authority (KTDA) Sh2.65 billion recovered from collapsed Kenya breaking news | Kenya news today |..
✨ Key Highlights
President William Ruto has overseen the return of KSh2.65 billion to tea farmers, recovered from the collapsed Chase Bank and Imperial Bank. This compensation aims to alleviate losses incurred by over 600,000 tea growers five years ago.
- Most important fact or figure: KSh2.65 billion recovered for tea farmers.
- Key person or organization involved: President William Ruto, Kenya Tea Development Authority (KTDA), and Kenya Deposit Insurance Corporation.
- Notable detail that adds context: President Ruto emphasized that tea earnings rose from KSh138 billion in 2022 to KSh215 billion last year, with a projected KSh280 billion by 2027, attributing this to agricultural reforms and also stressed mandatory e-procurement to combat corruption, stating 40 percent of government funds are lost through procurement.
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Financial Payouts Follow Court Rulings and Government Action in Kenya - September 2025
Standard Chartered Bank Kenya is inviting 629 former employees to file pension claims following a Supreme Court ruling. The decision upheld a Sh7 billion pension dispute settlement, bringing a four-year legal battle over underpaid benefits to a close. In a separate case involving a Kenyan-owned bank subsidiary, the High Court in Kampala ordered guarantors of Great Lakes Coffee Company to repay KCB Bank Uganda over US$1.1 million plus interest and costs. Additionally, President Ruto has handed over Sh2.6bn to tea farmers who were impacted by previous bank collapses.
