Why American firm is angling for a piece of Unga Group pie

Maize farmers demonstrate outside Unga Limited Eldoret depot to protest over exploitative supply prices by millers. The miller has reduced the amount of purchasing 90Kg bag of maize from Sh 2800 to Sh 2150 on 24/08/204. [Photo/ Peter Ochieng].

Regional miller Unga Group, which had been posting profits since 2007, reaching a peak of Sh621.7 million in 2015 shocked the market last year with a profit warning, followed by a full-year loss of Sh32.3 million.

The flour milling company’s  share price on the Nairobi Securities Exchange (NSE) was then trading in the region of Sh30.50.