Nzoia Sugar Resumes Operations After Ksh 500 Mn Govt Bailout
Nzoia Sugary Company will resume production after President Uhuru Kenyatta announced a KSh500 million bailout.
By Friday, the money will help the miller pay the arrears it owes to farmers and workers. The miller suspended its operations on May 19, 2022.
The funds will see KSh450 million paid directly to the accounts of farmers and the remaining KSh50 million paid to factory workers.
The Nzoia Sugar Factory is set to resume production this coming Sunday following President Uhuru Kenyatta’s announcement of Kshs 500 million bailout to offset arrears owed to farmers and workers. pic.twitter.com/nTqpYHRxaQ
— State House Kenya (@StateHouseKenya) August 2, 2022
Uhuru further noted that KSh1.2 billion sent to Nzoia Sugar in 2021 was misappropriated in the last fiscal year.
Nzoia Sugar Company has a Nucleus Estate spanning 3,600ha and an out-grower zone spanning 23,500ha. The out-grower zone encompasses over 67,000 farmers in total.