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May 24, 2015 12:23 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 2014.

South Nyanza Sugar Co. Ltd. Key Developments

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.

Sale Of Five State Sugar Companies Delayed

The government's plan to privatize Nzoia Sugar Company Limited, Miwani Sugar Company, South Nyanza Sugar Co. Ltd., Chemilil Sugar Company and Muhoroni Sugar Company is set to delay after MPs adjourned debate on a motion seeking approval for sale of the companies.

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