Kenya Meat Commission in KES 300m debt
19 September 2013, 15:22
Nairobi - Years of mismanagement and misuse of funds has put the Kenya Meat Commission (KMC) in the red to the tune of KES 330 million debts, according to Cabinet Secretary for Agriculture, Livestock and Fisheries Felix Koskei.
The parastatal's debts include statutory deductions and suppliers payments which have not been paid for years, which has led to several senior officials to be investigated, Daily Nation reports.
So far KMC is operating below 20 per cent capacity and had embarked on collection of debts from customers three months ago but they only managed to collect KES 65 million, which is still below the KES 750 million needed to upgrade and transform the parastatal.
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