Mumias miller revival stalled for lack of funds — receiver manager - News Summed Up

Mumias miller revival stalled for lack of funds — receiver manager


Mumias Sugar Company's return to operational capacity has been hampered by a lack of resources, receiver manager Ponangipalli Rao has said. Efforts to lease the company to an investor slowed down after a section of Western leaders objected to the process, citing a lack of transparency. Mutuli said the receiver manager's efforts to restart the distillery for the production of ethanol were thwarted by a lack of funds. He was appointed receiver manager of Kaluworks, one of Kenya’s leading manufacturers of aluminium utensils and roofing sheets in May. Rao said that his efforts to revive the company had been hampered by high transport costs, lack of finances and huge debts.


Source: The Star July 25, 2021 18:56 UTC



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