Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


August 02, 2015 3:20 PM ET

Food Products

Company Overview of South Nyanza Sugar Co. Ltd.

Company Overview

South Nyanza Sugar Co., Ltd. manufactures sugar from cane. Its customers include distributors, wholesalers, supermarkets, and grocers. The company was founded in 1976 and is based in Sare - Awendo, Kenya.

Kisii-Migori Road

Sare - Awendo,  

Kenya

Founded in 1976

Phone:

254 059 43004

Fax:

254 059 43245

Key Executives for South Nyanza Sugar Co. Ltd.

Ag Company Secretary
Finance Manager
Ag Human Resource Manager
Compensation as of Fiscal Year 2015.

South Nyanza Sugar Co. Ltd. Key Developments

Privatisation Commission Opposes Sale Of Sugar Millers To County Governments

A team that oversees the privatisation of government-owned companies has opposed plans by county governments to buy South Nyanza Sugar Co. Ltd., Muhoroni Sugar Company, Miwani Sugar Company, Chemelil Sugar Company Limited and Nzoia Sugar Company Limited (sugar millers). The regional governments have asked the Privatisation Commission to allow them to acquire sugar millers and pay by instalments. However, Henry Obwocha, chairman of Privatisation Commission, said on May 25, 2015, that it would be inappropriate to sell the millers to county governments. He said it would be illogical to transfer the companies from one government to another. "The challenges facing the sugar industry have largely been blamed on the involvement of the government. Why should we then transfer these challenges to another government, the county administration?" he told the Nation.

Kenya Mulls Sale Of Stakes In Five Sugar Firms

Kenya is planning to sell stakes in five firms. The government is planning to sell stakes in Nzoia Sugar Company Limited, South Nyanza Sugar Co. Ltd., Chemelil Sugar Company Limited, Muhoroni Sugar Company, and Miwani Sugar Company. Chairman of Privatisation Commission, Henry Obwocha said, “Government reached the decision of bailing them out completely so that the firms would look attractive to investors.” The government planned to sell 51% stakes in the companies to a ‘strategic partner’, and a further 24% to both growers and employees, Henry Obwocha said. The government currently owns at least 98% of each of the five firms and intends to retain a 25% interest in them.

Farmers To Get 24% Stake In Five Financially Troubled Sugar Firms

Sugarcane farmers will be allocated only a 24% stake in the five financially troubled sugar firms once privatization of the mills gets underway. According to the approved privatization strategy released by the Privatization Commission, farmers will also be required to share this stake with workers despite their call for a majority stake in the five firms — South Nyanza Sugar Co. Ltd., Muhoroni Sugar Company, Chemilil Sugar Company, Miwani Sugar Company and Nzoia Sugar Company Limited. A statement signed by Privatization Commission chairman Henry Obwacha said 51% stake will be sold to strategic partners "with a track record of managing profitable sugar companies. The proceeds of the sale will fund rehabilitation and modernization needs of the sugar companies." Such a partner will be competitively chosen. For the farmers and workers, a special purpose vehicle will be set up where shares will be placed in trust... "To give farmers more time to mobilize adequate resources to buy the allocated shares. Farmers and workers will have three years to obtain funds. The farmers have an opportunity to provide their views in a six-week window of consultations with various stakeholders. The privatization commission says it will hold further talks with farmers, county governments and other stakeholders before implementing the plan meant to revive the companies and help them compete with sugar firms in the region. "Upon completion of the consultations, the transaction implementation is expected to take nine to 12 months," Henry Obwacha added. The government will retain a critical 25 per cent stake, which it has indicated willingness to sell through an Initial Public Offering (IPO) or any other method in the future.

Similar Private Companies By Industry

Company Name Region
Farmer's Choice Limited Middle East/Africa
Chemilil Sugar Company Middle East/Africa
Bidco Oil Refineries Limited Middle East/Africa
Carlton Products Ltd. Middle East/Africa
Chebut Tea Factory Co. Ltd. Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact South Nyanza Sugar Co. Ltd., please visit www.sonysugar.co.ke. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.