Mumias sugar has recently been restocked back in supermarket shelves. However, lawmaker Peter Salasya has celebrated the return of Mumias Sugar.
The Mumias East MP has been acting brave about reviving the financially struck company. He was happy about the restocking of the sugar in the supermarkets. In a tweet, he wrote;
“Finally. Fighting for the msc revival is what made me to be an MP of mumias East.Msc sugar is now officially on the shelves.Let’s drink msc .Am pushing a motion to bar any institution which is not a miler not to brand sugar even supermarkets.@PeterMunya ur worst on sugar matters.”
I come from a land where we do a lot of sugarcane farming, but because we did not have true leaders who could stand with that person on the ground, they allowed the cartels to collapse the company without bringing in an alternative,” he said.
“I realized the only way to save Mumias sugar is for you to go through the receivership process, I started campaigning for it. It was put under receivership with KCB as I had told them earlier.”
Having resumed operations, Mumias Sugar company in the 2018/19 financial year reported a net loss of Sh15.10 billion against the previous year’s loss of Sh6.80 billion.
This was despite the firm receiving Sh3.70 billion bailout from the national government according to Nairobi news. However, it owed the bank over Sh500 million forcing it to appoint an administrator in a bid to recover the money.
