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Agriculture

Kenya: CoG rejected State-owned sugar companies’ privatization

Monday, 28 May 2018 19:41

(Ecofin Agency) - In Kenya, the privatization process of State-owned sugar companies has just hit a huge snag due to misunderstandings between the Council of Governors (CoG) and the Privatization Commission. Businessdailyafrica reports that CoG has rejected the sale of these factories to private investors suggesting a transfer to counties.

“We are not allowing the sale of these factories, we want them to be given to counties, which can operate them efficiently,” Okoth Obado, Chair of CoG’s agriculture committee, said.

This decision hinders the commission’s targets which already announced last March, the completion of the sale by August before COMESA safeguard measures come to end in February 2019. The concerned companies include South Nyanza (Sony), Chemelil, Nzoia, Muhoroni, and Miwani.    

Let’s note that Kenya is expected to produce between 420,000 and 450,000 tons of sugar in 2018.

Espoir Olodo

 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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