The National government will give Mumias Sugar Company Ksh 3 Billion to ensure its workers and farmers are paid on time. This is according to Kenya’s Deputy President Mr William Ruto who visited Mumias Sugar Company to talk to farmers on saturday.
“The Government’s plan to revive the factory is on course. The board is working on a Rights Issue which is expected to inject about Sh3 billion to the company. This will ensure farmers and workers are paid promptly.” Said DP William Ruto via his Facebook page.
The DP also noted that the restructuring which began last year was bearing fruits as Mumias Sugar is crushing more cane and farmers and farmers are being paid on time.
“I am happy that today you have increased from 350,000 tonnes to 450,000 though as a government we are targeting to get back to 700,000 tonnes, normal production, we are also making arrangements to modernize the facilities here especially to ensure there is sufficient raw material for the factory to operate optimum” he said.
Recent Related Post; Mumias Sugar widens H1 pretax loss by 9% to Ksh 2.26 Billion
Mumias Sugar Share Price
At the Nairobi Securities Exchange, Mumias Sugar Company share price is currently trading on its all time low of between Ksh 1.45-Ksh 1.50.Below is the share price performance of Mumias Since listing at the Nairobi Securities Exchange.
