FEATURED STORY

Fresh push to sell off New KCC

BUSINESS TODAYNov 8, 20162.3k

When the processor was revamped to New KCC, the company was coming from a dark period of mismanagement and loss making and as the company's managers explain, leveraging technology was central to that success.

The Privatization Commission has requested Treasury to fast-track the privatization of New Kenya Co-operative Creameries (KCC).

Privatization Commission Chairman Henry Obwocha told dairy industry stakeholders that the Commission had asked the parent ministry to prioritise the sale of the state-owned dairy.

“Following reconstitution of the Privatization Commission Board, the Commission has made recommendations to the National Treasury that due to the delay in the implementation of the rationalization programme, some of the transactions be allowed to proceed in view of urgent remedial measures that need to be undertaken. This is however a matter for consideration by the government. The Commission will continue engaging the National Treasury as necessary,” Mr Obwocha told stakeholders at a consultative meeting in Nairobi.

The Privatization Commission has additionally sourced for consultancy services for the review work on the proposed privatization of New KCC.

The bids documents are expected to be opened on November 11 at the Commission’s office.

The Privatization Commission has also been engaging stakeholders in the sugar cane belt of western Kenya on the potential sale of Chemelil, Sony, Nzoia and Muhoroni state-owned sugar millers.

New KCC Chairman Matu Wamae on his part said that the new creamery’s Ultra-heat treated (UHT) milk factory in Eldoret will be operational in the first quarter of the year.