Mumias Sugar Company has denied reports as untrue on claims of them planning to sell off some of its assets to raise money for operations.
There was also a claim that the board comprised of people lacking knowledge on the matter of sugar.
According to reports by a leading news website of the country, the company only plans to lease out non-milling assets to private entities to manage them and pay the company as part of cost-cutting measures. The company is implementing a strategy to ensure the company is profitable by trying to reduce their expenditures to stabilize the factory financially.
It is also reported that currently, the factory is partially operating until cane deliveries improve to operate at full capacity. The ethanol plant is also functional. The organization aims to focus on its core business which is cane crushing, and lease other ventures for proper management and increase revenue for Mumias Sugar Company.
