Kenya Meat Commission faces bankruptcy due to lack of funds

The Kenya Meat Commission (KMC) faces bankruptcy and there is a need for a capital injection from the private sector to make it stay afloat.

Agriculture Cabinet Secretary Mwangi Kiunjuri says the government is considering fast-tracking the privatization process for the abattoir.

The government says privatization is the best way to save the KMC from insolvency.

CS Kiunjuri says his ministry will next week form a task force to kick start the privatization process that would be spearheaded by the privatization commission.

Kiunjuri says the government cannot sustain the loss-making abattoir and there is a need for an injection of additional capital to bring the KMC back to profitability and protect thousands of jobs supported by the facility.

The government has allayed fears that the KMC will be less competitive once privatized saying the facility will be a boost to the livestock sub-sector as it will join other 4 privately owned abattoirs that are currently exporting meat products.

KMC has been struggling financially since its re-opening in 2006.


Latest posts

KTDA fires eight employees linked to former directors

Muraya Kamunde

Costly fuel, electricity push September inflation rate to 9.2pc 

Ronald Owili

EPRA shuts three petrol stations over fuel adulteration

Ronald Owili

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

%d bloggers like this: