September 24, 2019 / 3:24 PM / 2 months ago

Kenya's Mumias Sugar placed under receivership - KCB Group

NAIROBI, Sept 24 (Reuters) - Kenya’s loss-making Mumias Sugar Company has been placed under receivership to protect its assets and maintain its operations, KCB Group said on Tuesday.

“The Bank has appointed Mr. PVR Rao (Tact Consultancy Services) as the sugar company’s receiver manager,” KCB said in a statement. (Reporting by Duncan Miriri; Writing by George Obulutsa; Editing by John Ndiso)

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