Economic

Kenya plans to privatise sugar companies within 12 months

“Kenya has approved the sale of the government’s stakes in five sugar companies and expects to sell 75 percent stakes in transactions that will be completed in the next nine to 12 months, the Privatization Commission said on Friday.

The five companies are in urgent need of modernisation to survive competition from the entry of other sugar producers and an impending end to sugar import limits from the Common Market for Eastern and Southern Africa (COMESA) trade bloc after the end of a one-year extension given early this year.”

Source: Kenya plans to privatise sugar companies within 12 months | East & Horn Africa

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