Mumias Sugar Company main gate [Benjamin Sakwa, Standard] The High Court has struck out an affidavit querying the involvement of a Dubai company in the Mumias lease battle . Justice Alfred Mabeya dismissed the document filed by Gikwamba farmers questioning how Mumias assets that had secured loans from Eco Bank and French Development Agency Proparco […]
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Mumias Sugar: Dashed dreams, court battles and delayed revival
FILE Mumias Sugar Company entrance. Image: HILTON OTENYO Dan Lwanga, a 54 year old cane farmer in Matungu misses the good old days when his family used to holiday at the coastal beaches after receiving sugarcane dues. ”That envelope from Mumias Outgrowers Company was life to our family. It meant food, school fees and once […]
Eveready East Africa most expensive stock on NSE
Listed battery distributor Eveready East Africa #ticker:EVRD is the most expensive stock on the Nairobi Securities Exchange (NSE) #ticker:NSE relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares […]
Eveready East Africa most expensive stock on the Nairobi Securities Exchange
Listed battery distributor Eveready East Africa is the most expensive stock on the Nairobi Securities Exchange (NSE) relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares traded at […]
Eveready East Africa most expensive stock on the Nairobi Securities Exchange
Listed battery distributor Eveready East Africa is the most expensive stock on the Nairobi Securities Exchange (NSE) relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares traded at […]
Eveready East Africa most expensive stock on NSE
Listed battery distributor Eveready East Africa #ticker:EVRD is the most expensive stock on the Nairobi Securities Exchange (NSE) #ticker:NSE relative to its net assets, with its overvaluation driven by years of losses. Its equity or shareholders’ funds dropped 84.6 percent to Sh6.3 million in the year ended September 2021. Meanwhile, its 210 million issued shares […]
Mumias: Why Treasury and receiver are uneasy with Rai group
Jaswant Rai before the National Assembly Committee on Implementation, 2018. Scepticism is growing about the true intentions of billionaire Jaswant Rai’s bid for the takeover of the assets of Mumias Sugar Company. Those opposed to Jaswant’s takeover, including the National Treasury and KCB-appointed receiver-manager Pongangipalli Rao see him as a wolf in sheep’s clothing. They […]
Competition Authority says Mumias lease award unprocedural
Sarrai Group had secured the lease for assets of Mumias Sugar Company NAIROBI, Kenya, Feb 9 – The Competition Authority of Kenya (CAK), a government agency mandated to regulate mergers and acquisitions, has termed the leasing of Mumias Sugar Company as unprocedural. The regulator rendered the opinion filed in court in a case challenging the […]
Court dismisses one of tycoon Mwale’s Mumias lease case
The High Court on Thursday dealt a blow to tycoon Tumaz and Tumaz enterprises after one of the cases challenging the 20-year-old lease of Mumias Suga was dismissed with costs. The ruling also served as a reprive to the firm’s administrator and managers of Uganda’s Sarrai Group from a possible jail term for contempt of […]
Monopoly fears locked out firm in Mumias lease
Cane farmers have accused Mumias Sugar Company’s receiver-manager of using extraneous factors to lock out the highest bidders from the race. From court papers, it has emerged that West Kenya Sugar Limited was knocked out of the race to lease Mumias, as it would have allegedly dominated the sugar industry in Kenya. Mumias Sugar Company […]