Kenya Kwanza Cabinet
The Kenya Kwanza Cabinet has approved the revival and commercialization of six sugar companies in a move to address the plight of Sugarcane Farmers.
The sugar companies include; Nzoia Sugar Company, Chemelil Sugar Company, Miwani Sugar Company (in receivership), Muhoroni Sugar Company (in receivership), South Nyanza Sugar Company, and Mumias Sugar Company (in receivership).
“Today’s decision sets the Sugar Sub-Sector on a path of renewal by vacating the earlier decision by Cabinet to privatize State-owned entities within the sub-sector. If the proposal by Cabinet receives Parliamentary approval, the State-owned entities would be operated under a lease and operate framework,” a dispatch from the office of the President read in part.
The Cabinet sanctioned the extension of the framework for duty-free importation of milled sugar to bridge the supply deficit in a move to address the high retail price of sugar which is being fueled by an acute cane shortage in the country.
The Cabinet also considered and approved the proposal to revive and commercialize the National Oil Corporation of Kenya (NOCK).
“NOCK will benefit from a partnership that restructures it into three subsidiaries segmented around the petroleum products value-chain as follows: NOC Upstream Limited, focused on exploration and upstream production activities and services; NOC Downstream Limited, focused on marketing and distribution of petroleum products; and NOC Trading Limited, specializing in holding strategic stocks of petroleum products for import and export,” said the Cabinet.
It further approved the establishment of the Bomas International Convention Centre (BICC) to position Kenya as the destination of choice for Meetings, Incentives, Conferences and Exhibitions (MICE) tourism, and to cement her place as a diplomatic and commercial hub. The ultra-modern convention will feature a Conference Centre, a Presidential Pavilion, and at least five hotels.
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