KENYAN GOVT SAYS READY TO DIVEST STAKES IN FIVE SUGAR FACTORIES

NAIROBI, The government is ready to divest its stake in the five State-owned sugar factories in order to streamline management of the sugar sector, says Deputy President William Ruto, who adds that the government is looking into ways of expediting the privatization of the Miwani, Muhoroni, Nzoia, Sony and Chemilil sugar refineries.

We have to make changes to the model we are using to manage the sugar sector. We have no problem even if it means we surrender our stake in the sugar factories, so long as it will be for the benefit of the sugarcane farmers, he said during a consultative meeting on the privatization of sugar factories here Wednesday.

Ruto said the manner in which the factories were being run called for the re=energizing of the management of the sugar industry.

The meeting was attended by Agriculture Cabinet Secretary (Minister) Mwangi Kiunjuri, the governors from the sugarcane-growing counties, Privatization Commission Chairman Henry Obwocha, officials from the Ministries of Agriculture, Lands, Devolution, the Treasury and the National Lands Commission.

Ruto said decisions must be made on how to better manage the sugar industry for the sake of sugarcane farmers. With a situation where private companies in the sugar industry are making money while the public ones are making losses, it shows that there is a problem somewhere which must be fixed, he said.

Source: NAM NEWS NETWORK