Little known Kenya firm buys Tanzanian cashew nuts for $180m
Tanzania's Director of Cereals and Produce Board, Dr Hussein Mansoor (left) and Kenya's Indopower Solutions CEO Mr Brian Mutembei sign the 100,000 tonnes of cashewnuts sale deal at the EAC in Arusha on January 30, 2019. Looking on are (from left) Minister for Industries and Trade, Joseph Kakunda; Minister for Constitutional and Legal Affairs, Prof Palamagamba Kabudi; deputy Minister for Agriculture, Dr Innocent Bashungwa; and Kenya's ambassador o Tanzania Mr Dan Kazungu. PHOTO | TANZANIA FOREIGN MINISTRY
Tanzania will earn $180.2 million from its stock of cashewnuts after it entered into an agreement with a little known Kenyan-registered firm, Indo Power Solutions Ltd, for the purchase of 100,000 tonnes of the product last week.
The deal was signed on January 30 between the Cereals and Other Produce Board director Hussein Mansour and Indo Power’s chief executive Brian Mutembei.
