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"content": "various banks is the only way to mitigate the risk of loss of funds through such receiverships. My explanation as to the impact of the deposits held on the ability of KTDA to pay bonuses to tea farmers this year and in the future; I would say thus: Imperial Bank went into receivership on 13th October 2015 just before KTDA released the farmers bonus of Kshs27.62 billion of which Kshs2.93 billion was in Imperial Bank. The KTDA was able to pay the farmers using borrowings and reallocations of funds set aside for other projects. Chase Bank has now locked in Kshs1.9 billion. It is hoped that since it has been reopened, the money will be available to pay small scale tea farmers. However, if it is not available, KTDA group may have to again rely on borrowings to get the amount to pay the farmers. Overall, the Government expects to meet farmers’ payments as they fall due, especially so if no other bank among other listed banks is placed under receivership."
}