Human and animal feed processor Unga Group #ticker:UNGA did not pay management service fees to US conglomerate Seaboard Corporation in the year ended June 2021 as it started recovering previous overpayments to the multinational.
The company’s latest annual report shows that Seaboard did not earn the fees in the review period, having received more than Sh600 million cumulatively since it started offering the management services in 2000. Unga last paid Seaboard Sh53.4 million in the year ended June 2020.
