Why Sh1 billion Mumias Sugar Company bailout is drop in ocean

President Uhuru Kenyatta hands over a Sh1 billion cheque to Mumias Sugar Company Chairman Dan Ameyo (fourth left) as Kakamega County Governor Wycliffe Oparanya (third left) and other leaders look on. [Photo: file/Standard]

Mumias Sugar Company (MSC) is facing a bumpy and winding road to recovery following doubts raised by legislators and industry stakeholders about the Sh1 billion bailout that is seen as “a drop in the ocean”.

The doubts were further heightened when it emerged that Sh500 million from what it received will be a loan and not a grant.