Billionaire Jaswant Rai lost a bid to lease ailing Mumias Sugar Company on account of his dominance in the sugar sector, the receiver manager has said.
In his defence on why he awarded the lucrative tender to Uganda’s Sarrai Group, KCB’s receiver-manager Ponangipalli Rao says in court documents that were Mr Rai to be awarded the lease, he would control 42 percent of the total sugarcane crushed in the country daily.
