March 28, 2017 9:50 PM ET

Food Products

Company Overview of New Kenya Co-operative Creameries Ltd.

Company Overview

New Kenya Co-operative Creameries Ltd. produces dairy and milk based products. The company is based in Nairobi, Kenya.

Dakar road

industrial area

Nairobi,  00100

Kenya

Founded in 2003

Phone:

254 20 53 2535

Fax:

254 20 54 4879

Key Executives for New Kenya Co-operative Creameries Ltd.

Managing Director
Marketing Manager
Compensation as of Fiscal Year 2016.

New Kenya Co-operative Creameries Ltd. Key Developments

New KCC Not On Sale

New KCC Ltd is reportedly in no talks of getting privatized.

Government Says No Plans To Privatize New KCC

The Privatisation Commission has allayed fears that there are plans to sell the New Kenya Co-operative Creameries Ltd. to a private entity. The commission’s chairman, Mr Henry Obwocha, said this on November 24, 2016, when he led a team from the body to the New KCC Eldoret factory. “Our tour has nothing to do with actual work of privatisation of this milk processor. As you are aware, most of the members are new, so [we are] basically familiarising [ourselves] with what is going on in the company,” he said.

State Privatization Agency In Push For New KCC Sale

The Kenyan state divestiture agency is pushing the State to hasten the privatization of New Kenya Co-operative Creameries Ltd. (New KCC) to help the firm survive in a competitive business environment. Privatization Commission of Kenya chairman Henry Obwocha on November 7, 2016 asked the National Treasury to prioritize the sale of the 100% stake it owns in the dairy to farmers. "Following reconstitution of the Privatization Commission Board, the commission has made recommendations to the National Treasury that due to the delay in the implementation of the rationalization programme some of the transactions be allowed to proceed in view of urgent remedial measures that need to be undertaken. This is, however, a matter for consideration by the government," said Obwocha. Once New KCC is privatized, the government is expected to retain between 10 to 20% of the shares for oversight purposes. The commission has sourced consultancy services to review work done so far on the proposed privatization. The bid documents are expected to be opened on November 11, 2016.

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Recent Private Companies Transactions

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Date
Target
No transactions available in the past 12 months.
 

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