November 23, 2014 4:14 AM ET

Food Products

Company Overview of New Kenya Co-operative Creameries Ltd.

Company Overview

New Kenya Co-operative Creameries Ltd. produces dairy and milk based products. The company is based in Nairobi, Kenya.

P.O. Box 30131

Nairobi,  00100

Kenya

Phone:

254 20 53 2535

Fax:

254 20 54 4879

Key Executives for New Kenya Co-operative Creameries Ltd.

Managing Director
Marketing Manager
Compensation as of Fiscal Year 2014.

New Kenya Co-operative Creameries Ltd. Key Developments

New KCC's Privatization Rejected By Farmers

The privatization plan of New Kenya Co-operative Creameries Ltd. (New KCC) has been rejected by farmers in Rift Valley. The farmer wants New KCC to be fully reverted to them. The farmers, represented by Joseph Cherono said: "New KCC belonged to farmers."

Update on Privatization Plans

New Kenya Co-operative Creameries Ltd. members rejected privatisation plans of New Kenya Co-operative Creameries Ltd. Kipkorir Bitok, Chairman of Kenya Farmers' Association Limited said "We want farmers to be given 85 per cent of the company and there is no need whatsoever for a strategic investor to be brought on board."

Government Mulls Privatization

Government is seeking to sell stake in sugar companies and state agencies. Sugar Companies include Miwani Sugar Company, Muhoroni Sugar Company, South Nyanza Sugar Co. Ltd., Chemelil Sugar Company Limited, and Nzoia Sugar Company Limited. Other state agencies to be privatized include Kenya Pipeline Company Ltd., New Kenya Co-operative Creameries Ltd., Consolidated Bank of Kenya Limited and Kenya Meat Commission. Kenya Wines Agencies Limited and Development Bank of Kenya Ltd. are also included. The Privatization Commission, currently headquartered at the National Treasury and advises the government on all divestiture plans, will be disbanded under a new proposal presented to President Uhuru Kenyatta. The taskforce on state corporations has recommended that the functions of the Privatization Commission be integrated into a new entity that will be known as the Government Investment Corporation (GI)(GIC). All the current privatization programmes will be referred to the new body to determine how best to proceed with the programme. The report says, "It is proposed that all commercial strategic corporations will henceforth be managed by GI." The report added, "As far as is possible, there should be active efforts to grow the value of existing assets before disposal and that the proposed GIC be empowered to make government investment decisions on portfolio basis and to hold the government shares in government linked companies with a view to creating value."

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