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 […]
Tag: XNAI_MSC
Top bidders protest Mumias leasing to Ugandan company
Two firms that placed the highest financial bids for leasing troubled Mumias Sugar have protested the move by KCB receiver manager to award the tender to a Ugandan company, arguing evaluations on technical capacity should have been done by a third party. Kruman-Finances and Tumaz & Tumaz now argue that Sarrai Group –which runs three […]
Top bidders protest Mumias leasing to Ugandan company
Two firms that placed the highest financial bids for leasing troubled Mumias Sugar have protested the move by KCB receiver manager to award the tender to a Ugandan company, arguing evaluations on technical capacity should have been done by a third party. Kruman-Finances and Tumaz & Tumaz now argue that Sarrai Group –which runs three […]
Firm files case to stop Mumias Sugar lease to Uganda miller
A Ugandan firm that won the lucrative bid to lease Mumias Sugar Company might not savour its victory yet after a case was filed in court yesterday to challenge the contract. Barely a day after Sarrai Group was announced as the winner of the 20-year lease, Tumaz and Tumaz Enterprises Ltd , a firm associated […]
Sweet victory for Ugandan firm as it clinches Mumias lease deal
Ugandan agro-manufacturing giant Sarrai Group has secured the lease for the assets of Mumias Sugar after emerging top in a bidding process that lasted four months. The firm, which had placed a bid of Sh11.5 billion, will now attempt to revive Mumias Sugar, riding on its strong presence in Uganda’s sugar sector, where it produces […]
Uganda’s Sarrai Group wins Mumias Sugar 20-year lease
Entrance gate at Mumias sugar company. PHOTO | ISAAC WALE | NMG The 20-year lease, however, excludes assets in the firm’s ethanol and cogen plants, which recently were seized by Pan-African lender Ecobank and French development financier Proparco from KCB Group. Mumias, which used to be Kenya’s leading producer at more than 250,000 tonnes a […]
Will Ugandan sugar mogul finally breathe life into ailing Mumias?
Entrance gate at Mumias sugar company. PHOTO | ISAAC WALE | NMG The Mumias deal effectively puts the multibillion-shilling Kenya and Uganda sugar business in the Rai family. For Sarbi, the Mumias Sugar deal sets the stage for market share war with Jaswant, whose family controls half of the commodity’s sales in Kenya. The cross-border […]
Firm files case to stop Mumias Sugar lease to Uganda miller
A Ugandan firm that won the lucrative bid to lease Mumias Sugar Company might not savour its victory yet after a case was filed in court yesterday to challenge the contract. Barely a day after Sarrai Group was announced as the winner of the 20-year lease, Tumaz and Tumaz Enterprises Ltd , a firm associated […]
Uganda’s Sarrai Group wins Mumias Sugar 20-year lease
Entrance gate at Mumias sugar company. PHOTO | ISAAC WALE | NMG The 20-year lease, however, excludes assets in the firm’s ethanol and cogen plants, which recently were seized by Pan-African lender Ecobank and French development financier Proparco from KCB Group. Mumias, which used to be Kenya’s leading producer at more than 250,000 tonnes a […]
Uganda-based Rai family wins Mumias Sugar 20-year lease
Assets of the ailing Mumias Sugar Company have been leased to Uganda-based conglomerate Sarrai Group, the miller’s receiver-manager Pongangipalli Venkata Ramana Rao has disclosed. The 20-year lease, however, excludes assets in the firm’s ethanol and cogen plants, which recently were seized by Pan-African lender Ecobank and French development financier Proparco from KCB Group. “Although the […]