Kenya offers $5 mln bailout to rescue troubled Mumias sugar firm

by Reuters 15 views0

Kenya’s government will inject 500 million shillings, or 5.5 million dollars to bail out cash-strapped Mumias Sugar.

This is according to Felix Koskei the agriculture minister.

The cash is meant to help turn around struggling Mumias, which accounts for close to a third of Kenya’s annual sugar production, Koskei said in a statement late on Thursday.