Kenya expects to privatise five sugar firms in next 12 months

Nairobi, Kenya: Kenya has approved the sale of the government's stakes in five sugar companies and expects to offload 75-percent stakes in transactions that will be completed in the next nine to 12 months, the Privatization Commission said on Friday.

It will offload shares in millers Nzoia, South Nyanza, Chemelil, Muhoroni and Miwani, the commission said in a statement published in the Daily Nation newspaper.