Tycoon Jaswant Rai. FILE PHOTO | NMG Billionaire Jaswant Rai lost a bid to lease ailing Mumias Sugar Company on account of his dominance in the sugar sector, the receiver manager has said. In his defence on why he awarded the lucrative tender to Uganda’s Sarrai Group, KCB’s receiver-manager Ponangipalli Rao says in court documents […]
Tycoon Jaswant Rai. FILE PHOTO | NMG Billionaire Jaswant Rai lost a bid to lease ailing Mumias Sugar Company on account of his dominance in the sugar sector, the receiver manager has said. In his defence on why he awarded the lucrative tender to Uganda’s Sarrai Group, KCB’s receiver-manager Ponangipalli Rao says in court documents […]
Mumias Sugar company gate. [Benjamin Sakwa, Standard] Sugarcane farmers have thrown their hats into the legal ring and challenged the lease issued to Ugandan miller Sarrai Group . The farmers have filed a separate case before the commercial court in Nairobi claiming that billions of shillings are at stake if Sarrai is allowed to run […]
Duty-free sugar is offloaded at the port of Mombasa from the Comesa region. The Naitiri sugar plant, belonging to Kenya’s Rai family, is set to start operations soon. PHOTO | FILE The family is set to start operations of the Naitiri Sugar plant as an extension of West Kenya Sugar Company, with a production capacity […]
Businessman Julius Mwale. [Courtesy] Forget getting bankrupt Mumias Sugar Company out of the intensive care unit – that will be the easier part for businessman Julius Mwale. In court documents, the flashy investor told the KCB Group-appointed receiver manager Pongangipalli Venkata Ramana Rao that if given the opportunity to lease the assets of the sugar […]
The battle over the Mumias Sugar Limited (MSC) lease award to a Uganda based firm has taken a new twist after another firm sued for contempt of court. The legal fights have deepened with a new application to jail Sarrai Group directors and the receiver-manager Ponangipalli Venkata Ramana Rao. This happened after Sarrai asked the […]
Mumias Sugar Company. [Nathan Ochunge, Standard] The closure and scaling down of large companies operating in western Kenya as well as constrained power supply to the region has over the last decade resulted in a sharp drop in power consumption. State-owned sugar millers and the Panpaper mills are among the companies that have either shut […]
The Ugandan investor who won the Mumias leasing award will invest Sh1.1 billion to jump-start operations at the ailing miller. Sarrai Group said the funds, which are only the first batch of capital, would be key to starting the operations at the initial stage with more funds to be injected in due course. The leasing […]
Officials of a Ugandan company, which bagged the multibillion shilling leasing tender for Mumias Sugar Company now risk the slammer after an application for contempt was filed against them, for starting work despite a court order stopping the process. Tumaz & Tumaz Enteprises moved to court on Thursday accusing Mr Sarbjit Rai, the owner of […]
Kenya which had for over a decade blocked Uganda’s sugar from accessing its market including recurrent disputes over cross border trade and protectionism, the unthinkable has happened. Details reaching Taarifa Business desk indicate that Kenya’s troubled Mumias Sugar company has been leased to a Ugandan firm triggering tough protests from local Kenya bidders. Two firms […]
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