Wednesday, February 7, 2024 –Major companies in Western Kenya will not be sold off in the new privatization plan by the State.
President William Ruto who was on a tour in Western Region, in particular Bungoma County, succumbed to pressure from a section of leaders who told him to his face, that they will not allow any scheme to privatise their only source of livelihood.
Ruto, instead, said his government had already worked on clearing a whopping sh 50 billion debt owed to the Nzoia Sugar Company which was almost going to the Intensive Care Unit ICU.
“Nzoia Sugar Company is not on sale. The firm that is at the heart of Western Kenya’s economy will not be privatised but will be put under new management. The Government will install professional management that will inject efficiency in the running of the sugar company,” he said.
While addressing farmers in Nzoia on Thursday February 1, President Ruto broke the news that he had ordered clearing of the debt owed to the sugar miller.
The head of State reaffirmed the government’s commitment to do away with similar debts for the Muhoroni, Chemelil, Soni, and Miwani sugar factories which amounted to sh117 billion.
“I will write off the debts of the three sugar companies…the past three governments have tried but they did not succeed. I want to confirm to you that Nzoia Sugar’s debt of Ksh.50 billion has been written off by the government. Your company is free…we have done the same to the Muhoroni, Chemelil, Soni, Miwani all totalling up to sh.117 billion,” said Ruto.
Sugar companies in Western Kenya have. since time immemorial. experienced a crisis and his predecessors were unable to write off the debts, thus rendering them unmanageable. He blamed the past administrations.
