Home General Kenya Meat Commission faces bankruptcy due to lack of funds

Kenya Meat Commission faces bankruptcy due to lack of funds

by kenya-tribune
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The Kenya Meat Commission (KMC) faces bankruptcy and there is a need for a capital injection from the private sector to make it stay afloat.

Agriculture Cabinet Secretary Mwangi Kiunjuri says the government is considering fast-tracking the privatization process for the abattoir.

The government says privatization is the best way to save the KMC from insolvency.

CS Kiunjuri says his ministry will next week form a task force to kick start the privatization process that would be spearheaded by the privatization commission.

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Kiunjuri says the government cannot sustain the loss-making abattoir and there is a need for an injection of additional capital to bring the KMC back to profitability and protect thousands of jobs supported by the facility.

The government has allayed fears that the KMC will be less competitive once privatized saying the facility will be a boost to the livestock sub-sector as it will join other 4 privately owned abattoirs that are currently exporting meat products.

KMC has been struggling financially since its re-opening in 2006.

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