Malawi: Global Tea & Commodities secures a $4M IFC financing to boost operations
(Ecofin Agency) - The International Finance Corporation and the global agriculture and food security program will jointly grant a $4 million loan to UK’s Global Tea & Commodities to expand activities in Malawi. The money will be used to deploy renewable energy solutions to boost tea and macadamia production and support nearly 3,300 local farmers.
Global Tea which produces tea, coffee and macadamia nuts exported towards the EU, USA, Asia and Africa, also operates tea trading offices in Kenya, Malawi, India and the UK.
Under its expansion program, the company will also benefit from IFC’s expertise in corporate governance, environmental and social standards as well as environment-friendly agricultural practices.