Investors from Uganda have expressed interest in injecting cash into ailing East Africa’s giant sugar millers-Mumias Sugar Factory. This was revealed when the team called on Kakamega Governor H.E FCPA Wycliffe Ambetsa Oparanya at the County headquarters, Friday afternoon.
Governor Oparanya expressed his gratitude to them for the visit and said the Government is willing to work with any individual or company interested in investing in the county.
He added that the relevant stakeholders in the sector, including the Government, are ready to discuss the proposal from the investors with the aim of reviving the sugar miller.
“Any investor engaging in legitimate business is much welcome to do business in Kakamega county in any sector of their interest,” governor Oparanya said.
Mumias Sugar company is currently under receivership but the county is considering leasing it to an investor who has the capacity to finance milling operations and is keen on cane development. If well managed, it is capable of crushing 10,000 tons in a day.
Dr Michael Mugabira the head of delegation and coordinator of Uganda Sugarcane Growers Association said they are ready to pump in money to resuscitate the miller.
“Our core business in Uganda is sugar cane farming and we are prepared to provide both financial and technical expertise needed in revival of Mumias Sugar factory,” he assured.
Dr. Mugabira’s team is willing to come in as shareholders of the company if their proposal sails through.