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KCB Takes Over Mumias Sugar Amidst Controversy

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Nyakundi Report

Newsroom 1 min read

This archive report was first published on 26 September 2019.

On September 20, 2019, Kenya Commercial Bank (KCB) appointed Ponangipalli Venkata Ramana Rao as the receiver-manager of Mumias Sugar Company, citing a Sh20 billion debt.

Senator Cleophas Malala and local residents opposed the move, arguing that the national government should come clean on its intentions and plans for the company's revival.

Malala asked President Uhuru Kenyatta to consider writing off the miller's debts and stop the receiver-manager from taking over the management of the company.

Activist Boniface Manda vowed to camp outside the miller's gates and lockout any receiver from taking over, stating that they want their miller revived and end up in good hands.

Human Resource Manager John Shiundu confirmed that the legal department had ascertained the authenticity of the document from the receivers and instructed him to adhere to the notice and show the receiver around the factory.

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