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KCB takes over running of debt-ridden Mumias

Mumias Sugar Company entrance. FILE PHOTO | NMG

By  Victor Juma

Business Editor

Nation Media Group

KCB Group #ticker:KCB has placed Mumias Sugar Company #ticker:MSC under administration after the miller defaulted on loans amounting to Sh12.5 billion, effectively kicking out the company’s board and management.

The amount is owed to KCB and other creditors.

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Note: The results are not exact but very close to the actual.

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