M a r k e t N e w s

Kenya: Sh33 Billion Write-Off for Sugar Factories

Posted on : Wednesday , 16th September 2015

The State will write off Sh33 billion owed by sugar factories, a parastatal head has said.

 
Privatisation Commission Board chairman Henry Obwocha on Sunday said this will enable the factories to pay cane farmers.
 
"Due to the huge debts, the factories have been making losses," Obwocha said.
 
He was raising funds for a priest's house on Sunday at Amasago Catholic Parish, Nyaribari Chache constituency.
 
Obwocha cited Muhoroni, Chemelil, Miwani, and Nzioa factories in South Nyanza.
 
Present were parastatal chairmen including Omingo Magara (KICC), Samuel Nyangeso (Kenya National Library Services) and Walter Nyambati (Jomo Kenyatta Foundation).
 
Magara said they will use their positions to promote the government's development agenda in Kisii.
 
"We will also preach unity of the community," he said.
 
Nyangeso said he will use his position to ensure each subcounty has a library.
 
Nyambati urged the church to pray for the dismissal of Deputy President William Ruto's crimes against humanity case at the ICC.

Source : allafrica.com
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