This archive report was first published on 27 October 2019.
Deputy President William Ruto has pledged to relinquish the government's stake in Mumias Sugar Company to the Kakamega County Government as part of efforts to revive the ailing firm.
Speaking at the launch of Wanga Technical and Vocational Institute in Mumias East on Friday, Ruto said the government was considering handing over its 20% shares to the county government.
He said the move would allow the county government to have a bigger say in the daily operations of the miller, increasing its chances of revival.
“We have agreed as the national government and told the county government that we are ready to give up those shares we own at the miller,” Ruto said.
The National Treasury has already provided Sh3.7 billion in bailout cash to the miller, but the money did not bring the factory back to life.
Ruto urged the Kenya Commercial Bank (KCB) to work with the county government to find a solution to the miller's problems and revive the factory.
On September 24, KCB appointed Ponangipalli Rao of Tact Consultancy Services as the receiver manager at the miller.
