Indian firm wants to buy into Rwandan tea companies

Jay Shree Tea and Industries, an Indian tea company is seeking to acquire a stake in one of Rwanda’s tea companies, The Business Times has learnt. The deal is in the line with government’s campaign to sell off all its tea factories and plantations in order to increase their competitiveness. Government also intends to increase the sectors processing capacity while retaining high quality of Rwanda’s tea on the international market. Ocir-Thé’s Director General, Anthony Butera revealed to the Business Times that the company approached his office but the two parties haven’t reached a solid agreement. “We held talks with management of Jay Shree and we advised them to associate with a local company which will help them acquire stake in one of our tea factories,” Butera explained. Government has embarked on Public and Private Partnership (PPP), a programme that allows both government and the private sector to own stakes in local companies. Butera revealed that the tea factories of Gisakura, Mata and Shagasha are up for privatisation. Ocir-Thé has to carryout a technical evaluation and financial bids before presenting the documents to cabinet for approval. The agency’s management says that privatisation of the tea factories is aimed at increasing their performance, production and better management. Jay Shree tea and industries limited deals in tea manufacturing. The group operates in four segments which include tea, chemicals and fertilisers, infotech and others. The group also operates in tea warehousing and investment. Ends

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Indian firm wants to buy into Rwandan tea companies