This archive report was first published on 19 December 2019.
The Nairobi Securities Exchange (NSE) has extended the trading suspension of Mumias Sugar Company and Deacons East Africa for three months, effective from December 27, 2019, and December 2, 2019, respectively.
Shares of Mumias Sugar Company were initially suspended on September 25, 2019, after KCB Group placed the sugar miller under administration due to unpaid debts. The company has since laid off all workers on permanent contracts and appointed Francis Wabuke as the acting General Manager.
Deacons East Africa, on the other hand, has been in suspension since November 2018. The retail store appointed Peter Kahi and Atul Shah of PKF Consulting as joint administrators of the company after a prolonged period of financial turmoil.
