Mumias Sugar has started the search for a new chief executive less than two years after re-hiring Australian Errol Johnston to turn around the struggling miller. The publicly-traded company, owned 20 per cent by the state, said interested candidates should apply by May 17. This adds up to at least Sh5.91 billion loss for 2016-17 financial year. “The company envisages cane shortages running through second half (January to June ) of the year,” chairman Mulwa said. The government has lined up another Sh1 billion bailout this fiscal year, Sh239 million of which was released earlier this year.

Source: The Star May 02, 2017 21:22 UTC