Siaya based Dominion transfers business to Lake Agro

Dominion Farms limited, a former investor in Siaya County’s Yala swamp has transferred its business to Lake Agro Limited.

The notice stated that business carried on by Dominion Farms limited (The transferor) at its premises known as Dominion Farms located on a parcel of land comprising 3,700 hectares situated within part of the area known as the Yala swamp in Siaya county, will subject to the fulfillment of certain conditions precedent be transferred to Lake Agro Limited (The transferee).

According to the notice of transfer, Lake Agro Limited will carry on with the business on the same premise.

The business transfer notice, however, said that all the debts or liabilities due or owing to Dominion in respect of the business upto the date of transfer out above shall be received by Dominion Farms limited.

SEE ALSO :New owner takes up Yala project

"Lake Agro Limited will not assume nor will it intend to assume any liabilities whatsoever incurred by Dominion in the business upto the date of transfer," added the notice.

Dominion Farms limited suspended its operations on November 10, 2017, leaving more than 350 workers jobless.
The investor Calvin Burgess (CEO Dominion farms limited) who had worked on the swamp for over 15 years cited political frustrations, which he claimed, had made it difficult to continue working on the project.

Burgess arrived in Kenya in September 2002 as a foreign investor who would contribute heavy equipment and rice mills.

For More of This and Other Stories, Grab Your Copy of the Standard Newspaper.  

According to the workers, the investor owes them over Sh350 million while Sh900 million arrears owed to suppliers.
The county government, in January 2019 had taken to the assembly a request by Dominion farms limited to transfer its lease to Lake Agro Limited for debate.

The MCAs had approved the request allowing the new investor in Yala swamp.

The MCAs insisted that the county government and Lake Agro limited must put consideration into the implementation of assembly report through fresh survey and planning of land use at the swamp area.

They also asked for a commitment to fast track outstanding assembly committee resolutions on the investment policy, review of MOU and the lease.

The notice of business transfer is dated  January 132020 and was signed by both the advocates of Dominion Farms limited and Lake Agro Limited.

Do not miss out on the latest news. Join the Standard Digital Telegram channel HERE.

Get the latest summary of news in your email every morning. Subscribe below

* indicates required
Dominion FarmsSiaya CountyLake Agro Limited