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NAIROBI: The Government has re-affirmed its commitment to bail out Mumias Sugar Company with a cash injection of Sh1 billion.
Agriculture Cabinet Secretary Felix Koskei said the ailing sugar miller required approximately Sh3 billion bailout to cater for its overhead costs as it seeks to rebuild its operations. "For this reason, it has been proposed that Treasury facilitates an immediate cash injection of Sh1 billion as soft loans to the company to enable it meet its day-to-day financial obligations," he said.
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