Our History
Africa Tea Brokers Limited was the pioneer broker of the Kenya Tea Export Auction system, which was initiated in November 1956 in Nairobi.
1956 – The Beginning
Starting off on a very small scale, only limited quantities of secondary grades were auctioned fortnightly. The bulk of Kenya’s tea production at that time was being consigned to the London Auction with the United Kingdom being the most important importer of tea in the world.
Expansion of the Auction
Producers subsequently considered it worthwhile offering additional quantities in the auctions. Initially, only a few international buying concerns opened offices in Kenya but as quantities increased, the incentive to others was apparent and more international buyers were attracted and the spread of interest from markets other than the UK built up. It was then decided by both producers and active buyer members of the East African Tea Trade Association that as tea was warehoused and shipped from Mombasa, it would be beneficial and easier to control if the export auctions were moved to Mombasa.
This transpired in 1969 and by this time the auctions were held weekly, with progressively increasing quantities being printed in Africa Tea Brokers catalogues.
Late 1970s – Containerized Shipments
Containerized shipments introduced in the late seventies, created further interest from international tea buyers. The conversion of packing to easily palletized paper sacks stretch-wrapped and containerized for shipment has been an additional incentive to exporters.
1992 – US Dollar Bidding
The introduction of bidding in US dollars in October 1992 also proved a further strong incentive to producers offering tea in the Mombasa Auctions and additional quantities not only from Kenya but also from Uganda, Burundi, Rwanda, Tanzania, Malawi, Democratic Republic of Congo, Zambia, Zimbabwe, Ethiopia, Mozambique and Madagascar have been attracted to Mombasa.
This allows payment for teas sold in US dollars ten working days from the date of sale and obviates any devaluation in local rates and ensures rapid payment in a stable currency.
Mombasa is now the largest CTC auction centre in the world, offering upto 9.5 million kilos per week and sometimes more during peak periods.