Iko nene?

Rights issue, isn't it ?

2016 Budget Statement

45. Mr. Speaker, regarding strategic Government investments that have faced challenges recently, allow me to report as follows:
i. We are working to ensure Kenya Airways turns around its financial position and is able to play its role in our economy especially as a key asset supporting our tourism and transport sectors;
ii. On Telkom, I am happy to report that significant progress has been made in which Orange East Africa will sell its shares to a strategic investor. Through this transaction, Mr. Speaker, GOK will increase its shareholding from the current 30% to 40%. We expect the new investors to turn around the fortunes of the company so that it can be a sustainable business capable of competing effectively in the telecommunications sector; finally
iii. The Government recognises the importance of a financially strong Mumias Sugar Company to the economy of Western Kenya. Consequently, the Government allocated Ksh 2.0 billion in this financial year in order to support the revival of the company and we believe we have now laid a strong foundation for its recovery.

This is not news ! We want radical surgery at MSC.

@streetwise
Gava is the single largest/top shareholder with a 20% stake in the company

True Gava single highest share holder but no intersed in making the organization profitable other than using it as a political tool

A good move indeed.

With leasing they remove the cost ( which was probably more that revenue) and create some revenue whose cost is probably the contract administration only.

Mumias Sugar Company shuts down production due to lack of cane. Cane farmers have been poached by other companies

I walked out of this counter long ago. I stopped bleeding at 1.55 kes per share. Now TEAM MAFISI are ganging up to form PPT sub 1 bob. TEAM MAFISI=market magicians.