An investor is set to take up a 40 per cent stake in Angata Sugar Mills, which has been putting up a milling factory in Moyoi, Transmara, Narok County. According to sources close to the deal, Savannah Crest KE Limited is set to pump about Sh500 million for the stake. Completion of the deal is expected by December 2024, reports Business Daily.
Angata Sugar Mills Limited is presently owned by two equity groups: Firethorn Holding Limited and iCreate Investment Holding Limited. This position was approved by the Competition Authority of Kenya, which decided that the deal would have no impact on competition. “Exclusion from the Provisions of Part IV of the Act: In exercise of the powers conferred by Section 42(1) of the Competition Act, the Competition Authority of Kenya excludes the proposed subscription of shares amounting to 40 per cent of the total issued share capital of Angata Sugar Mills Limited by Savannah Crest, (KE) Limited from the provisions of Part IV of the Act,” said Director-General Adano Roba. The transaction meets the criteria for exclusion under the Competition (General) Rules, 2019.
Angata Sugar Mills is developing a Sh4.35 billion ($33.8 million) sugar milling plant in Moyoi, Transmara, scheduled to begin production in September 2025. According to a blueprint, the factory and its auxiliary installations will cover about 200 acres. “Sugar production involves two distinct operations: processing sugar cane into raw sugar and processing the raw sugar into refined sugar,” Angata disclosed.
Angata is among several investors planning new factories in Kenya to meet the growing demand for sugar. An investment review indicated that over Sh15 billion in new capital is designated for greenfield projects in the struggling sugar industry, as well as the expansion of existing processing factories and sugar cane plantations. Most of the new sugar factory projects are located in Narok, Nandi, and Kericho counties, signalling a shift from the traditional cane-growing regions in western Kenya, such as Nyando, Mumias, Migori, Homa Bay, and Kakamega.
Additionally, Transmara will host the Sh1.5 billion Soit Sugar Factory in the Olomismis area. The blueprint for Soit shows a milling capacity of 1,250 tonnes of cane per day (TCD), expandable to 2,500 TCD, and the potential to generate three megawatts of captive power. During its operational phase, Soit will produce milled brown sugar with by-products including bagasse, molasses, filter mud, and boiler ash.
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