Sharp Daily
No Result
View All Result
Monday, July 7, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Cabinet approves KES 117 billion write-off for Kenya’s sugar sector

Brian Murimi by Brian Murimi
October 9, 2023
in News
Reading Time: 2 mins read

Kenya’s cabinet approved writing off KES 117 billion  in loans and tax arrears owed by public sugar mills on Monday, in a move aimed at reviving the struggling sugar industry centered in the country’s Nyanza region.

The decision came during a cabinet meeting in Kisumu chaired by President William Ruto, the third gathering held outside the capital as part of his presidential working tours across Kenya.

The substantial write-off for the heavily indebted public millers is intended to act as “a boost to the Nyanza economy” where sugar production is concentrated, according to a despatch from the Executive Office of the President.

The relief package also includes a 90-day payment plan for the mills to clear significant salary and farmer arrears that have hampered operations.

RELATEDPOSTS

Why firms are shedding jobs despite survival

June 19, 2025

Opinion: Austerity wrong medicine for Kenya’s economy.

June 16, 2025

Sugarcane farmers have faced major challenges from the decline of public sugar mills for decades across Nyanza and Western Kenya, two key sugarcane growing regions.

The package aims to “reinvigorate public sugar mills, the backbone of the Nyanza/Western economy,” the despatch stated.

Read more: Kenya approves LPG policy to transition households from dirty fuels

The cabinet also approved a new health project to establish local capacity for vaccine production, strengthen regulation and quality control, and enhance pandemic preparedness.

The project comprises establishing facilities for vaccine fill-and-finish production at the Kenya BioVax Institute, boosting regulatory capacity at the Pharmacy and Poisons Board, upgrading quality control at the National Quality Control Laboratory, strengthening the National Public Health Institute, and building workforce skills in bio-manufacturing.

The cabinet said the project aims to support a ‘one health’ approach leveraging local production and innovation to bolster Kenya’s health system and realization of universal health coverage.

“This seminal programme is projected to contribute towards supporting the ‘one health’ approach based on local production, research, and innovation; which is integral to improving the social determinants of health in Kenya,” the despatch stated.

In line with the government’s ‘Buy Kenya Build Kenya’ policy, the cabinet directed the Kenya Medical Supplies Authority to prioritize locally made pharmaceuticals in procurement.

The session also approved establishing a new transport accident investigation bureau covering all modes, and co-hosting AFCON 2027 with stadium upgrades. Education reforms, a Technopolis Bill, presidential mercy policy, extradition agreements, and a tree planting campaign were among other items approved.

The Kisumu cabinet meeting also approved upgrades to the Gogo hydropower plant along the Kuja River to improve electricity supply in the area.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Kenya approves LPG policy to transition households from dirty fuels

Next Post

Teen pregnancies reach alarming levels in Kilifi County

Brian Murimi

Brian Murimi

Brian Murimi is a journalist with major interests in covering tech, corporates, startups and business news. When he's not writing, you can find him gaming, watching football or sipping a nice cup of tea. Send tips via bireri@thesharpdaily.com

Related Posts

Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025

LATEST STORIES

The importance of Investment Policy Statements (IPS) for pension schemes in Kenya

July 4, 2025

Understanding Life Cover as an Additional Benefit in Retirement Benefit Schemes

July 4, 2025

Del Monte foods files for bankruptcy in USA

July 3, 2025

Lessons from the Kuramo-TransCentury fallout

July 3, 2025

Private vs Public Pension Funds in Kenya

June 30, 2025

The mechanics of currency manipulation

June 27, 2025

Understanding how to access your pension savings in Kenya.

June 27, 2025

What happened to president Ruto’s economic dream?

June 27, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024