Steel tycoon Narendra Raval has shed his interest in Mumias Sugar Company, a decision seen to be influenced by ongoing politics around the process. The loss-making miller was placed under receivership by KCB Group in September 2019, to protect its assets and maintain its operations. Last week, Kakamega Senator Cleophas Malalah wrote seeking a statement from the Standing Committee on Agriculture on the state of Mumias Sugar Company and the impending resuscitation measures being pursued. “Give details of the procedure to be followed should the government intend to sell its stake in the Mumias Sugar Company Ltd in its entirety,” Malalah further said in his request. He was among eight individuals who had been shortlisted to take over Mumias Sugar through leasing.

Source: The Star June 04, 2021 07:52 UTC